# Wells Fargo (WFC) Q2 2026 earnings

Results filed 2026-07-14 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/wfc/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/72971/000007297126000288/0000072971-26-000288-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Wells Fargo Reports Second Quarter 2026 Net Income of $6.4 billion, or $2.00 per Diluted Share

Wells Fargo earned $6.4 billion, or $2.00 per diluted share, up 25% from a year ago. Revenue rose 9% to $22.6 billion, with net interest income up 5% and noninterest income up 13%. Expenses grew only 2% as headcount fell 7%. Average loans grew 12% and average deposits 10%. Credit quality was strong, with net loan charge-offs at 0.34% of average loans.
Management expects 2026 net interest income of about $50 billion and noninterest expense of about $55.7 billion, both unchanged from prior guidance, and plans to lift the third quarter dividend to $0.50 per share. The main tension is that management says favorable conditions do not last forever. Net interest margin also fell to 2.43%, and the CET1 ratio dropped to 10.3% from 11.1% a year ago.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Total revenue | $22,622 | up 9% from a year ago | GAAP |
| Wells Fargo net income | $6.4 billion | up 17% from a year ago | GAAP |
| Diluted earnings per common share | $2.00 | up 25% from a year ago | GAAP |
| Efficiency ratio | 60 | down from 64 a year ago |  |
| Return on average tangible common equity (ROTCE) | 17.7% | up from 15.2% a year ago | non-GAAP |
| Net interest income | $12.3 billion | up 5% from a year ago | GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Consumer Banking and Lending revenue | $10,288 | up 6% from a year ago |
| Commercial Banking revenue | 3,118 | up 6% from a year ago |
| Corporate and Investment Banking revenue | 5,425 | up 16% from a year ago |
| Wealth and Investment Management revenue | 3,892 | up 13% from a year ago |
| Markets revenue | 2,206 | up 24% from a year ago |
| Total client assets (company-wide) | 2,691 | up 15% from a year ago |
| Average loans | $1,026.5 | up 12% from a year ago |
| Average deposits | 1,465.6 | up 10% from a year ago |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Net interest income | 2026 | +/- $50 billion |
| Net interest income excluding Markets | 2026 | +/- $48 billion |
| Markets net interest income | 2026 | +/- $2 billion |
| Noninterest expense | 2026 | ~$55.7 billion |
| Common stock dividend per share | third quarter of 2026 | $0.50 |

## Key takeaways

1. **Earnings per share rose 25% to $2.00** Net income of $6,407 million lifted diluted EPS to $2.00 from $1.60 a year ago. Results included $132 million, or $0.04 per share, of discrete tax benefits.
2. **Every operating segment grew revenue year over year** Consumer Banking and Lending revenue rose 6%, Commercial Banking 6%, Corporate and Investment Banking 16% and Wealth and Investment Management 13%. Markets revenue was up 24% and Banking revenue up 20%.
3. **Expense discipline produced positive operating leverage** Revenue grew 9% while noninterest expense rose 2%, and headcount fell 7%. The efficiency ratio improved to 60 from 64 a year ago.
4. **Credit quality improved across portfolios** Net loan charge-offs were 0.34% of average loans, down from 0.44% a year ago. Nonperforming assets fell $824 million from the first quarter to $7,944 million.
5. **Balance sheet growth and buybacks lowered CET1** Average loans grew 12% and the company repurchased $3.0 billion of stock, while CET1 was 10.3% versus 11.1% a year ago. The third quarter dividend is expected to rise to $0.50 per share.

## Questions

**What were Wells Fargo's second quarter 2026 results?** Wells Fargo reported net income of $6.4 billion, or $2.00 per diluted share, on revenue of $22,622 million, up 9% from a year ago. Net income was up 17% and diluted EPS up 25%.
**What is Wells Fargo's outlook for 2026?** Management expects 2026 net interest income of about $50 billion, including about $48 billion excluding Markets, and noninterest expense of about $55.7 billion. Both are unchanged from prior guidance.
**How is Wells Fargo's credit quality?** Net loan charge-offs were 0.34% of average loans, down from 0.44% a year ago and 0.45% in the first quarter. Nonperforming assets were 0.77% of total loans, down from 0.86%.
**What is happening with Wells Fargo's capital and dividend?** The CET1 ratio was 10.3%, down from 11.1% a year ago, and the company repurchased $3.0 billion of common stock in the quarter. It expects to raise its third quarter dividend to $0.50 per share from $0.45.
**Which businesses drove growth?** Corporate and Investment Banking revenue rose 16%, led by Markets up 24% and Banking up 20%. Wealth and Investment Management revenue rose 13%, with client assets up 15%.