PNC Reports Q3 2026 Results with $4.97 EPS and Raises Full-Year 2026 Guidance

Executive Summary

On October 15, 2026, The PNC Financial Services Group, Inc. filed a Current Report on Form 8-K under Item 7.01 (Regulation FD Disclosure) and Item 9.01 (Financial Statements and Exhibits), furnishing the investor presentation slides (Exhibit 99.1) utilized during its third quarter 2026 earnings conference call.

Key Q3 2026 Financial Highlights

• Earnings & Profitability:

  • Diluted EPS: $4.97 (GAAP), compared to $5.09 adjusted (non-GAAP).
  • Net Income: $2.097 billion, an increase of 2% linked-quarter (LQ) and 15% year-over-year (YoY).
  • Pretax, Pre-Provision Earnings (PPNR): $2.811 billion, up 1% LQ and 15% YoY.
  • ROTCE: Return on average tangible common equity reached 18.28% (non-GAAP).
  • Efficiency Ratio: 57%.

• Revenues & Net Interest Margin:

  • Total Revenue: $6.562 billion (down 5% LQ due to 2Q integration/significant items, up 11% YoY).
  • Net Interest Income (NII): $4.206 billion (+2% LQ, +15% YoY).
  • Net Interest Margin (NIM): 2.94% (management targets NIM of 3.00% or higher in 4Q26).
  • Noninterest Income: $2.356 billion (+4% YoY).

• Balance Sheet & Credit Performance:

  • Average Loans: $372.2 billion (+2% LQ, +14% YoY), driven by C&I (+4% LQ, +19% YoY) and CRE (+4% LQ, +19% YoY).
  • Average Deposits: $461.2 billion (+1% LQ, +7% YoY).
  • Credit Metrics: Provision for credit losses of $189 million; Nonperforming Loans (NPLs) to total loans was 0.58%; Net charge-offs (NCOs) were 0.28% of average loans ($257 million).
  • Capital: Estimated Basel III CET1 capital ratio of 9.8% (8.8% including AOCI; fully phased-in Basel III Endgame estimated at 9.8%–10.0%).
  • Capital Return: Returned $1.4 billion to shareholders via $0.8 billion in common dividends and $0.6 billion in share repurchases.

Updated Guidance

• Full Year 2026 Outlook (Updated vs. Prior):

  • Average Loans: Raised to up ~13.5% (from up ~12.5%).
  • Net Interest Income: Raised to up ~15.5% (from 15%–15.5%).
  • Noninterest Income: Raised to up ~10.5% (from up ~9%).
  • Total Revenue: Raised to up ~13.7% (from up ~13%).
  • Noninterest Expense: Adjusted to up ~9.5% (from up ~8.5%).
  • Effective Tax Rate: Maintained at ~19.5%.

• Q4 2026 Outlook:

  • Average loans expected up ~2.5% LQ.
  • Net interest income expected up ~4.0% LQ.
  • Adjusted noninterest expense expected up ~5.0% LQ.