PNC Reports Q3 2026 Earnings: Net Income of $2.1B and Adjusted EPS of $5.09

Summary of Filing: PNC Financial Services Group, Inc. (Form 8-K)

On October 15, 2026, The PNC Financial Services Group, Inc. filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition) and Item 9.01 (Financial Statements and Exhibits), reporting its financial results for the third quarter ended September 30, 2026.

Key Financial Highlights

• Earnings & Profitability:

  • Net Income: $2.097 billion, compared to $2.055 billion in Q2 2026 and $1.822 billion in Q3 2025.
  • Diluted EPS: $4.97 reported; $5.09 as adjusted (excluding $0.12 impact of integration costs and significant items), an increase of $0.24 compared to adjusted Q2 2026 EPS of $4.85.
  • Return on Tangible Common Equity (ROTCE): 18.28% (non-GAAP).
  • Return on Average Assets (ROA): 1.32%.
  • Pretax, Pre-provision Earnings (PPNR): $2.811 billion, up 1% sequentially.

• Revenue & Net Interest Income:

  • Total Revenue: $6.562 billion.
  • Net Interest Income (NII): $4.206 billion, up 2% sequentially from $4.107 billion.
  • Net Interest Margin (NIM): 2.94% compared to 2.96% in Q2 2026.
  • Noninterest Income: $2.356 billion, down sequentially due to lower capital markets activity and Q2 significant items.

• Operating Expenses & Efficiency:

  • Noninterest Expense: $3.751 billion reported, or $3.724 billion as adjusted (down 3% sequentially).
  • Efficiency Ratio: Improved to 57% from 60% in Q2 2026.

• Balance Sheet & Credit Quality:

  • Average Loans: $372.2 billion, an increase of $9.0 billion (2%) driven by new production and higher utilization.
  • Average Deposits: $461.2 billion, up 1% sequentially (spot deposits grew 4%).
  • Credit Quality: Provision for credit losses stood at $189 million; net loan charge-offs were $257 million (including $35 million related to the transfer of a $1.4 billion student loan portfolio to held-for-sale). Allowance for credit losses to total loans was 1.42%.
  • Capital & Liquidity: Common Equity Tier 1 (CET1) capital ratio of 9.8%. PNC returned $1.4 billion of capital to shareholders, consisting of $0.8 billion in common dividends and $0.6 billion in share repurchases.