Truist Financial (TFC) Q3 2026 earnings summary

Executive summary

• Adjusted net income available to common shareholders was $1.423B and adjusted diluted EPS was $1.16, up 12% YoY; reported diluted EPS was $0.56.

• Adjusted ROTCE was 14.6%; results included the RAC loan sale and AFS securities repositioning, while management prioritized simplification and resource reallocation toward growth and returns.

• Client deposits grew, wealth management income reached a record, and asset quality remained strong.

Financial highlights

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

• Net interest income-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 was $1.6B, up 2.5% YoY; wealth management income reached a record $407M.

• Noninterest expense was $3.105B reported and $3.065B adjusted for $40M of RAC costs; adjusted expense rose 0.3% QoQ and 1.7% YoY.

• Adjusted PPNR was $2.239B versus reported PPNR of $686M; reported net income available to common shareholders was $684M.

Outlook and guidance

• 4Q26 revenue-TE is expected at ~$5.35B; NII-TE guidance is $3.65B-$3.70B, including a $125M reduction from the RAC sale and a $40M benefit from AFS repositioning.

• 4Q26 noninterest expense is expected to rise 2.5% QoQ; net charge-off ratio guidance is ~0.45%, with an effective tax rate of ~13.5% (~15.5% FTE).

• Planned 4Q26 share repurchases are ~$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.