EarningsQ2 2026 Earnings Report
MX:SCHW Q2 2026 EPS Results
Actual EPS$29.42
Consensus EPS$28.24
Beat/MissBeat by +$1.18
One Year Ago EPS$20.70
MX:SCHW Q2 2026 Revenue Results
Actual Revenue$142.77B
Expected Revenue$125.24B
Beat/MissBeat by +$17.53B
YoY Revenue Growth+15.33%
Earnings Announcement Details
QuarterQ2 2026
Date07/21/2026
TimeBefore Open
Conference CallTuesday, July 21, 2026
MX:SCHW Upcoming Earnings
Charles Schwab's next earnings date is estimated for October 15, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SCHW Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong, broad-based operational and financial momentum: record revenue and EPS, significant new account and asset inflows, trading and lending growth, product innovation (crypto pilot, Forge, AI initiatives), and improved operating leverage. The main negatives are manageable near-term headwinds and uncertainties — higher expense growth this year (driven by volume and acquisitions), reliance on market-driven trading activity, subdued hard-to-borrow securities-lending, and uncertainty around tokenization and timing of emerging revenue streams. Overall, achievements and growth metrics substantially outweigh the challenges described.Company Guidance
Record Financial Results
2Q26 total revenue of $7.1 billion (+21% YoY) and adjusted EPS of $1.62 (+42% YoY); adjusted pre-tax profit margin of 54.3%.
Strong Asset Gathering and New Accounts
1.4 million new brokerage accounts in 2Q26 and $120 billion core net new assets in the quarter (nearly +50% YoY); first half 2026: 2.7 million new brokerage accounts and $260 billion core net new assets (≈+20% YoY).
Trading and Client Engagement Momentum
Daily average trades of 11.9 million (record activity); trading revenue up 28% YoY to $1.2 billion; Schwab executes ~1/3 of retail brokerage trades and is #1 in daily average trades and options contracts.
Net Interest and Lending Growth
Net interest revenue increased 19% YoY; bank lending balances reached $67 billion (+33% YoY, +16% vs prior year-end); total margin balances at $165.1 billion.
Revenue Diversification and Asset Management
Asset management & administration fees rose 16% YoY to $1.8 billion; managed investing net flows up 53% YoY (company-stated increase).
Operational Efficiency and Scale
Adjusted expenses grew 11% YoY while delivering improved operating leverage (management cites expansion from prior scenario to ~800 bps of operating leverage); cost per account and expense on client assets remain industry-low; developer productivity improved ~15–20%.
Client Experience and Product Innovation
All-time-high client promoter scores for investor and advisor services; launched Portfolio Insights (May) and internal Schwab Assistant pilot; Schwab Crypto rollout proceeding with crypto transfer pilot planned by month-end; closed Forge acquisition and invested in Paxos.
Updated 2026 Financial Outlook
Raised full-year assumptions: market appreciation ~13% and daily average trades guidance to ~10.6 million; expect full-year revenue growth of 17.5%–18.5%, full-year NIM 3.0%–3.10%, Q4 NIM 3.25%–3.30%, and revised annual expense growth of 9.5%–10.5% (underlying expenses still in 5.5%–6.5% range).
Capital and Balance Sheet Management
Adjusted Tier 1 Leverage Ratio ~6.8% (within 6.75%–7% target range); repurchased $1 billion of common shares and executed net redemption of preferred equity while prioritizing capital to support client activity and growth.
MX:SCHW 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