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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Charles Schwab
Charles Schwab (SCHW) investor relations material
Charles Schwab Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary15 Oct, 2026
Executive summary
Record Q3 net revenue reached $7.171B, up 17% YoY; adjusted diluted EPS was $1.69, up 29%, and core net new assets were $190.4B, up 38%.
Growth spanned client acquisition, managed investing, lending and trading; management expects ~800 bps of 2026 operating leverage.
Durable growth strategy centers on attracting clients, deepening relationships and expanding advice, trading, lending and wealth capabilities, pairing people with AI.
Financial highlights
Q3 net interest revenue was $3.476B, up 14% YoY; asset management and administration fees were $1.913B, up 14%.
Trading revenue was $1.158B, up 16% YoY; bank deposit account fees rose 40% to $345M, and other revenue rose 64% to $279M.
GAAP net income was $2.906B and diluted EPS was $1.62; adjusted net income was $3.021B and adjusted diluted EPS was $1.69, up 29% YoY.
GAAP expenses excluding interest were $3.394B; adjusted expenses were $3.243B, both up 9% YoY.
Nine-month net revenue was $20.725B, up 18% YoY; GAAP net income was $8.185B, up 28%, and diluted EPS was $4.53, up 36%.
Outlook and guidance
FY 2026 revenue growth and NIM expansion are expected toward the lower end of summer-update ranges; expenses are expected at the low end of guidance.
FY 2026 positive operating leverage is expected at ~800 bps, roughly double the beginning-of-year expectation.
Q4 NIM is expected to expand ~25–30 bps YoY, with further expansion expected in 2027.
Organic cash growth, seasonal Q4 inflows and positive lending and trading trends are expected to continue.
The long-term framework targets high-single-digit to low-double-digit revenue growth, positive operating leverage and mid-teens EPS growth; a detailed 2027 scenario is planned for the January winter business update.
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Latest events from Charles Schwab
- Strong 2023 client growth and profitability set the stage for a 2024 transition and NIM recovery.SCHW
Q4 2023 - Record revenue, EPS, and client asset growth driven by robust trading and digital innovation.SCHWQ2 2026
- Record asset growth and digital innovation drive strong double-digit revenue outlook for 2026.SCHWInstitutional Investor Day 2026
- Record revenue, client asset growth, and profitability driven by innovation and engagement.SCHWQ1 2026
- Record 2025 revenue, EPS, and asset growth set stage for further expansion in 2026.SCHWQ4 2025
- Record Q3 growth, strong capital returns, and major acquisition and crypto launch plans.SCHWQ3 2025
- Q3 net income up 25%, client assets at $9.92T, Ameritrade integration and strong growth achieved.SCHWQ3 2024
- Record client assets, strong net new asset growth, and Ameritrade integration drive profitability.SCHWQ2 2024
- Net income up 40%, revenue up 18%, and record asset inflows drive strong quarterly results.SCHWQ1 2025
Next Charles Schwab earnings date
Q4 202620 Jan, 2027
Charles Schwab
Next Charles Schwab earnings date
Q4 202620 Jan, 2027
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Frequently asked questions
Empowering the individual investor
The Charles Schwab Corporation is a prominent financial services company that operates in the United States. Founded by Charles R. Schwab in 1971, the company has since grown to become a leading provider of brokerage, banking, and financial advisory services. Headquartered in San Francisco, Charles Schwab has built a reputation for its innovative approach to investing services and its commitment to empowering individual investors.
The brainchild of founder Charles R. Schwab
Charles R. Schwab is an American entrepreneur and philanthropist known for his significant contributions to the financial industry. Raised in a middle-class family in Sacramento, California, Schwab developed a passion for finance from a young age. He graduated from Stanford University with a degree in economics and business administration before embarking on a remarkable career that would shape the landscape of investment services. Charles R. Schwab still acts as the chairman of the company and is also known for his extensive philanthropic work outside of his business ventures.
Making investing accessible for the retail investor
Offering investing solutions for individual investors. Charles Schwab's operating philosophy revolves around providing affordable and accessible investment services to a wide range of clients. The company has been a pioneer in the discount brokerage industry, offering low-cost trading options and eliminating many traditional barriers to investing. With a user-friendly online platform and a robust suite of tools and resources, Charles Schwab enables investors to research, analyze, and execute trades efficiently. Additionally, the company offers a comprehensive range of investment products, including stocks, bonds, mutual funds, ETFs, and more. This in turn allows clients to build diversified portfolios tailored to their financial goals and risk tolerance. Similar services are being offered through Robinhood and other retail investing platforms. However, Charles R. Schwab has their focus on long-term investing unlike pure trading platforms such as IG. When it comes to their offerings of asset management, their main competitors are traditional firms such as Goldman Sachs and other investment banks.
Offering guidance throughout the investment process
Charles Schwab places a strong emphasis on investor education, providing resources and educational materials to empower individuals to make informed financial decisions. The company's financial advisors are available to assist clients in navigating the complexities of investing, offering personalized advice and tailored solutions that fit the investment goals of each client.