Truist Financial (TFC) Q3 2026 earnings summary

Executive summary

• Adjusted diluted EPS was $1.16, up 12% YoY, and adjusted ROTCE was 14.6%; reported diluted EPS was $0.56 after $0.60 per share of strategic-action impacts.

• Client deposit growth, record wealth income, asset quality and expense discipline supported underlying results; loan runoff and delayed investment banking revenue weighed on performance.

• Strategy prioritizes relationship-based banking and reallocating capital, talent and expenses toward core businesses to improve growth, profitability and shareholder returns.

Financial highlights

• Adjusted net income available to common shareholders was $1.423B; reported net income available to common shareholders was $684M, or $0.56 diluted EPS.

• Adjusted revenue-TE was $5.304B, stable YoY and down 0.1% QoQ; reported revenue-TE was $3.791B, including $1.447B of AFS losses and $66M of RAC sale losses.

• NII-TE was $3.707B, up 1.1% QoQ and 0.7% YoY; NIM-TE was 3.00%, up 2 bps QoQ and flat YoY.

• Adjusted noninterest income rose 2.5% YoY; wealth management income reached a record $407M. Adjusted expenses were $3.065B, up 0.3% QoQ and 1.7% YoY.

• Adjusted PPNR was $2.239B versus $686M reported; provision for credit losses was a $253M benefit, including RAC-related reserve recapture.

Outlook and guidance

• Q4 revenue-TE outlook is ~$5.35B; NII-TE outlook is $3.65B-$3.70B, including a $125M reduction from the RAC sale and a $40M benefit from AFS repositioning.

• Q4 reported noninterest expense is expected to rise 2.5% QoQ; net charge-off ratio is forecast at ~0.45%, effective tax rate at ~13.5% and FTE tax rate at ~15.5%.

• Q4 share repurchases assumed at ~$1B; guidance excludes potential additional strategic actions, including LightStream’s sale.

• 2026 average loan growth target remains 3%-4%, excluding RAC and LightStream sales; full-year commercial loan growth is expected in the mid-single digits.

• ROTCE targets remain 15% for 2027 and 16%-18% long term; a detailed 2027 outlook and strategic review update are planned for January 2027.