EarningsQ2 2026 Earnings Report
MX:CFG Q2 2026 EPS Results
Actual EPS$23.61
Consensus EPS$22.54
Beat/MissBeat by +$1.07
One Year Ago EPS$16.71
MX:CFG Q2 2026 Revenue Results
Actual Revenue$57.34B
Expected Revenue$40.88B
Beat/MissBeat by +$16.46B
YoY Revenue Growth+3.30%
Earnings Announcement Details
QuarterQ2 2026
Date07/16/2026
TimeBefore Open
Conference CallThursday, July 16, 2026
MX:CFG Upcoming Earnings
Citizens Financial's next earnings date is estimated for October 16, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CFG Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a strong quarter with record revenue, solid EPS and ROTCE improvement, broad loan growth, a record capital markets quarter, an accelerating private bank and robust shareholder returns. Management reiterated disciplined expense control and clear medium-term operational initiatives (RTB and NEXT) with quantified benefits. Lowlights were mostly moderate and largely transitory: slight deposit cost pressure, modest FHLB usage, ongoing CRE runoff timing, a small CET1 shortfall versus a 10.5% anchor, and some upfront transformation costs. On balance, positive operational momentum and sizeable near- and medium-term catalysts outweigh the manageable and largely temporary headwinds.Company Guidance
Strong EPS and ROTCE Improvement
EPS of $1.30 for Q2, up $0.17 (15%) sequentially and up 41% year-over-year; ROTCE improved to 13.9% from 12.2% in Q1, reflecting improving profitability and capital efficiency.
Record Revenue and Positive Operating Leverage
Company reported record revenue for the quarter with positive operating leverage of ~4% sequentially and ~6.4% year-over-year; management noted >600 basis points of positive operating leverage year-over-year for the full year trajectory.
Net Interest Income and NIM Expansion
Net interest income (NII) rose 4.4% sequentially and ~14% year-over-year; net interest margin (NIM) expanded +3 basis points sequentially and +10 basis points in the first half of 2026, with guidance for continued NIM improvement (4Q26 NIM target 3.22%–3.27%).
Fee Revenue and Capital Markets Momentum
Fee revenues increased 8% sequentially and 9% year-over-year. Capital markets delivered a second-quarter record: fees up 14% vs Q1 and up 46% year-over-year, driven by loan syndications, bond underwriting, and growing M&A pipeline.
Wealth and Private Bank Milestones
Wealth delivered an all-time high quarter (wealth fees +16% year-over-year); Private Bank spot deposits reached $17.8 billion, period-end loans $9.7 billion, client assets $11.2 billion, private bank contribution of $0.15 EPS (11.5% of EPS) and ~25% ROE for the business.
Loan Growth Across Businesses
Average loans +2% sequentially and period-end loans +3% (spot commercial loans ex-private bank +2% linked quarter). Broad-based C&I growth, retail loan growth ex-non-core ~$800 million spot, and private bank loans increased $1.9 billion in the quarter.
Disciplined Expense Management
Expenses rose only ~1% sequentially; efficiency ratio improved to 61% in Q2 while still investing in incentive comp tied to revenue; implementation costs for Reimagine the Bank were modest (~$7 million in Q2).
Credit Metrics Trending Favorably
Net charge-offs improved to 37 basis points (from 39 bps prior quarter), non-accrual loans down 4% sequentially, allowance-to-loans coverage stable with ACL coverage ratio at 1.48%; Fed DFAST projected credit loss result ranked third-best among regional peers.
Strong Capital, Liquidity and Shareholder Returns
CET1 ended Q2 at 10.4%; returned ~$422 million to shareholders in Q2 ($197M dividends, $225M buybacks) and $920 million YTD; executed $225M buybacks in the quarter and plans ~$125M of repurchases in Q3.
Operational Initiatives and Medium-Term Targets
Reimagine the Bank (RTB) progressing: expect ~$100M annualized pretax benefit by exit 2026, doubling in 2027 and ~ $450M by exit 2028. NEXT branch initiative to optimize network (target ~100–120 in-store branch eliminations, add specialist branches) and path to 16%–18% ROTCE by end of 2027.
MX:CFG 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