Charles Schwab (SCHW) Q3 2026 Earnings Report
MX:SCHW Q3 2026 EPS Results
- Actual EPS
- MXN 31.75
- Consensus EPS
- MXN 31.09
- Beat/Miss
- Beat by +MXN 0.66
- One Year Ago EPS
- MXN 24.61
MX:SCHW Q3 2026 Revenue Results
- Actual Revenue
- MXN 153.44B
- Expected Revenue
- MXN 134.90B
- Beat/Miss
- Beat by +MXN 18.54B
- YoY Revenue Growth
- +16.01%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/15/2026
- Time
- Before Open
- Conference Call
- Thursday, October 15, 2026
MX:SCHW Upcoming Earnings
Charles Schwab's next earnings date is estimated for January 19, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:SCHW Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, characterized by record revenue and earnings, broad-based client and asset growth, expanding margins, strong capital levels, and substantial momentum in wealth, lending, trading, and AI. Management also expressed confidence in continued NNA growth, fourth-quarter performance, NIM expansion, and long-term operating leverage. The main challenges were higher volume-related expenses, loan growth outpacing deposits, operational limits on the rapidly growing long/short program, and limited current demand for after-hours trading, but these issues were presented alongside active management responses rather than as broad deterioration.
Company Guidance
For the remainder of 2026, Schwab expects continued cash build through net new assets and the normal seasonal inflow through year-end, strong full-year revenue growth and NIM expansion, with revenue and full-year NIM expected to grow towards the lower end of the ranges provided at the summer business update, expenses at the low end of the range, and approximately 800 basis points of positive operating leverage, roughly double what was expected at the beginning of the year; fourth-quarter NIM is expected to show roughly 25 to 30 basis points of NIM expansion that year over year for 4Q25 to 4Q26, with further expansion from there in 2027, while the company expects to end 2027 with strong business momentum, continue investing in growth and other key strategic initiatives, and deliver positive operating leverage across a range of environments, with a more detailed 2027 financial scenario expected at the winter business update in January.
- Record Client Acquisition and Asset GrowthClients opened 1.2 million brokerage accounts in the third quarter. Core net new assets reached $190 billion, up 38% year over year and representing an annualized organic growth rate of nearly 6%.
- Record Revenue and EarningsThird-quarter total net revenues increased 17% year over year to a record $7.2 billion, while adjusted earnings per share increased 29% to a record $1.69.
- Strong Managed Investing and Lending MomentumManaged investing net flows reached a quarterly record of $24 billion, up 22% from last year. Bank lending reached $72 billion, up 35% year over year, with total bank loan balances ending the quarter at $72.3 billion.
- Broad-Based Revenue GrowthNet interest revenue grew 14% year over year to nearly $3.5 billion, asset management and administration fees increased 14% to a record $1.9 billion, trading revenue rose 16% to $1.2 billion, and bank deposit account fees increased 40% year over year.
- Margin Expansion and Operating LeverageThe adjusted pre-tax profit margin was 54.8%, an expansion of approximately 350 basis points versus 3Q25. Schwab expects approximately 800 basis points of positive operating leverage for the full year, roughly double the expectation at the beginning of the year.
- Robust Trading EngagementDaily average trades reached 10.7 million. Schwab remains the industry leader in trading, supported by more than 1,200 expert trading specialists, and trader client promoter scores increased seven points year over year.
- Strong Client Engagement and Brand PositionClients interacted with Schwab a record 1.8 billion times year to date. Client promoter scores and Easy Scores continued to climb, and Schwab stated that it remains number one by total client assets, RIA custodial assets, and daily average trades.
- Deepening Client RelationshipsClients move nearly $4 trillion in cash through Schwab every month for investing, trading, bill payments, collateral, and other transactions. Schwab's firm-wide transfer of assets ratio is approximately 1.8 and continues to improve over time.
- Advisor Services Scale and MomentumSchwab serves more than 16,000 advisory firms representing $5.8 trillion in assets. More than 1,100 advisory firms added Schwab as a custodian last year, more than three times the number of the next closest provider.
- Retail Growth Across GenerationsApproximately 70% of new-to-firm retail households are Gen Z and millennials. Roughly 80% of retail assets are held by ultra-high-net-worth and high-net-worth households, and Schwab stated that its retention rate around wealth transfers is extremely high.
- Value of Dedicated Financial Consultant RelationshipsRetail clients with a dedicated financial consultant generate approximately three times the household NNA, five times the managed investing net flows, and three times the transfer of assets ratio of comparable unassigned households.
- Wealth Business GrowthSchwab Wealth Advisory net flows increased 55%, and Schwab Wealth Advisory clients gave the business a client promoter score of 84 in the third quarter. Schwab stated that it has approximately 2% of the $37 trillion U.S. advice market.
- New Products and Platform ExpansionSchwab launched single stock futures and binary options related to financial markets, made Schwab Crypto available to all clients, began rolling out crypto transfers into Schwab, and plans to launch access to three new coins by the end of the year.
- AI-Powered Client CapabilitiesSchwab introduced Charlie, an AI-powered conversational assistant expected to become available to all clients in the coming months. Charlie combines third-party large language models with Schwab's data and security and can already perform some administrative tasks, including changing an address or naming a trusted contact.
- AI Partnerships and Secure ConnectivitySchwab collaborated with Anthropic and became the first RIA custodian included in Claude for Financial Advisors. Schwab is also allowing clients to connect their own large language models to Schwab's MCP servers while controlling authentication and limiting access to higher-risk actions such as moving money.
- AI-Driven Productivity GainsDeveloper productivity has increased by about 25%. Schwab also reported handling more call-center inquiries on the first call than ever before and receiving fewer calls per client because clients are using AI to have questions answered.
- Growing AI Trading EngagementClients trading through large language models and APIs have doubled in about the last six months. Schwab stated that these clients hold more cash than other active traders because they are focused on finding their next investment.
- Positive Net Interest Margin OutlookSchwab remains asset sensitive and expects net interest margin to expand in the fourth quarter and continue expanding in 2027. Management expects roughly 25 to 30 basis points of year-over-year NIM expansion from 4Q25 to 4Q26 and cited a $250 million to $300 million rate sensitivity.
- Strong Capital Position and Shareholder ReturnsThe adjusted Tier 1 leverage ratio ended the quarter at 7%, the upper end of Schwab's 6.75%-7% range. Through the first nine months of 2026, Schwab increased its common dividend, redeemed preferred stock, and repurchased almost $4 billion of common shares.
- Full-Year Financial OutlookManagement expects strong full-year revenue growth and NIM expansion, with revenue and full-year NIM growing toward the lower end of the ranges provided at the summer business update. Expenses are expected to come in at the low end of the range while maintaining and adding investments in strategic initiatives.
- Long/Short and Prediction Market Expansion PlansSchwab expects to develop a proprietary long/short offering based on its direct indexing capability and is working toward expanding binary options into financially related events and company KPIs over the next 12 to 18 months.
- Platform Monetization InitiativesSchwab stated that it is pursuing multiple monetization opportunities, including ETF monetization, crypto, prediction markets, wealth, lending, and additional transactional-based revenue streams.
- Workplace Business MomentumSchwab reported strength in its workplace business, including wins from its private stock plan administration capability launched earlier in the year and increased momentum in its retirement plan business.
MX:SCHW Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 19, 2027 | 2026 (Q4) | 32.24- | 26.11 | ― | ― |
| Oct 15, 2026 | 2026 (Q3) | 31.0931.75 | 24.61 | 29.01% (+7.14) | |
| Jul 21, 2026 | 2026 (Q2) | 29.2130.43 | 21.42 | 42.11% (+9.02) | |
| Jan 21, 2026 | 2025 (Q4) | 26.2326.11 | 18.97 | 37.62% (+7.14) | |
| Oct 16, 2025 | 2025 (Q3) | 23.4324.61 | 14.47 | 70.13% (+10.14) | |
| Oct 16, 2025 | 2026 (Q1) | 26.2326.86 | 19.54 | 37.50% (+7.33) | |
| Jul 18, 2025 | 2025 (Q2) | 20.6621.42 | 13.71 | 56.16% (+7.70) | |
| Apr 17, 2025 | 2025 (Q1) | 18.9619.54 | 13.9 | 40.54% (+5.64) | |
| Jan 21, 2025 | 2024 (Q4) | 17.1718.97 | 12.77 | 48.53% (+6.20) | |
| Oct 15, 2024 | 2024 (Q3) | 14.0914.47 | 14.47 | 0.00% (+0.00) |
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