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EarningsQ3 2026 Earnings Report
BMO Q3 2026 EPS Results
Actual EPS$2.78
Consensus EPS$2.65
Beat/MissBeat by +$0.13
One Year Ago EPS$2.27
BMO Q3 2026 Revenue Results
Actual Revenue$14.02B
Expected Revenue$6.83B
Beat/MissBeat by +$7.19B
YoY Revenue Growth+4.48%
Earnings Announcement Details
QuarterQ3 2026
Date08/25/2026
TimeBefore Open
Conference CallTuesday, August 25, 2026
BMO Upcoming Earnings
Bank Of Montreal's next earnings date is estimated for December 2, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
BMO Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted broad-based, multi-segment operating strength: double-digit revenue growth, record PPPT across all businesses, improving returns (ROE to 14%), strong capital metrics and credit improvement. Management also outlined strategic portfolio optimization (dispositions) and continued investments in technology/AI to drive future productivity. Headwinds include a significant one‑time goodwill charge related to announced disposals, some near-term NIM drag from higher liquidity and continued uncertainty from recent Canada-U.S. tariff actions; corporate services experienced a quarter of weaker performance and expenses are growing as investments continue. Overall, positive momentum, diversified fee growth and improving credit/capital profiles materially outweigh the manageable near-term challenges.Company Guidance
Adjusted EPS and Net Income Growth
Adjusted EPS of $3.96, up 22% year-over-year; adjusted net income of $2.9 billion (record).
Strong Pre-Provision, Pre-Tax Earnings (PPPT)
PPPT of $4.5 billion, up 13% year-over-year with record PPPT in all four operating segments.
Improving Returns
Return on equity (adjusted) improved to 14%, up 200 basis points year-over-year; ROTCE 18%, up 240 basis points; ROA 72 basis points.
Revenue and Fee Growth
Total revenue growth of 11% year-over-year; non‑interest revenue (NIR) increased 26% year-over-year (15% excluding trading); wealth and asset management revenue up 24%.
Capital Strength and Planned Capital Optimization
CET1 ratio remained strong at 13%; announced dispositions (138 U.S. branches, transportation & vendor finance, Moneris Canada) expected to add ~50 basis points to CET1 on close and be overall accretive to ROE.
Balance Sheet and Margin Momentum
Average loans up 3% year-over-year and 2% sequentially; NII ex Markets up 5% year-over-year; NIM ex Markets 226 bps, up 5 bps year-over-year.
Deposit and Client Growth
Core operating deposits up 8% year-over-year; Canadian operating deposits up 7% year-over-year; mutual fund sales through financial centres up 33% and strongest net client growth quarter of the year driven by marketing campaigns.
Business Segment Highlights - U.S. Banking
U.S. Banking ROE 9.8% (up 90 bps YoY) and ROTCE 17.3%; PPPT $972 million, up 7% year-over-year; commercial loans positive sequential growth (4%).
Business Segment Highlights - Wealth and Capital Markets
Wealth Management net income up 22% with record revenue; long-term mutual fund gross sales and ETF flows up 19%. Capital Markets PPPT record $903 million (up 39% PPPT) and net income up 45% year-over-year; revenue up 20% with Global Markets +27%.
Efficiency and Operating Leverage
Positive operating leverage of 1.6%; consolidated efficiency ratio improved to 54.9%; Canadian P&C efficiency ratio improved to 42.8%.
Credit Improvement and Reserves
Total PCL decreased to $722 million with lower impaired provisions; impaired losses lower (impaired losses $708 million or 41 bps); gross impaired loans $6.8 billion, down 4 bps sequentially; performing allowance $4.8 billion (69 bps coverage).
AI and Productivity Initiatives
Launched AI underwriting platform SmartDecision (underwriting decisions as little as 10 seconds versus industry average of ~28 business days); Lumi chatbot increased new employee productivity by 17% and is being scaled for additional client conversations.
BMO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed