Wells Fargo (WFC) Q3 2026 earnings summary

Executive summary

• Net income was $5.951B and diluted EPS was $1.87, up 6% and 13% YoY, respectively; revenue increased 2% to $21.870B, with growth across all four operating segments.

• Average loans and deposits each grew 11% YoY; ROTCE reached 16.3%, supported by revenue growth and lower noninterest expense.

Financial highlights

• Net interest income was $12.517B, up 5% YoY; noninterest income was $9.353B, down 1%, and noninterest expense was $13.743B, down 1%.

• Provision for credit losses increased 51% YoY to $1.029B from $681M; pre-tax, pre-provision profit rose 7% to $8.127B.

• Noninterest income fell as lower trading gains, lease income and equity-security gains offset growth in advisory, deposit, investment banking and card fees.

• Revenue-related expenses rose 15%, offset by a 4% decline in non-revenue-related expenses; lower year-ago severance costs affected personnel expense comparisons.

Outlook and guidance

• FY2026 net interest income guidance remained ~$50B; Q4 NII was expected to be ~$13B, with stable sequential NIM and faster NII growth than in the prior two quarters.

• FY2026 noninterest expense guidance remained ~$55.7B; higher-than-planned revenue-related expenses were expected to be offset by greater efficiency savings.

• NII outlook depends on interest rates, yield-curve shape, deposit balances, mix and pricing, and loan demand; NII excluding Markets was expected to benefit from loan and securities growth and fixed-rate asset repricing.

• ROTCE was progressing toward the 17%-18% target; timing depends on market and credit conditions.