EarningsQ2 2026 Earnings Report
MX:UBSN Q2 2026 EPS Results
Actual EPS$15.80
Consensus EPS$16.38
Beat/MissMissed by -$0.58
One Year Ago EPS$13.08
MX:UBSN Q2 2026 Revenue Results
Actual Revenue$352.80B
Expected Revenue$243.38B
Beat/MissBeat by +$109.42B
YoY Revenue Growth-0.28%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:UBSN Upcoming Earnings
UBS Group AG's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:UBSN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted broad-based revenue and profit growth, record invested assets, strong Investment Bank and Global Wealth Management performance, substantial cost-synergy progress and a fortified balance sheet. Key near-term negatives included integration-related costs, the CET1 impact from the buyback accrual, continued U.S. adviser rotation and some revenue effects from prior disposals and mix in fixed income. On balance the positives around earnings power, client flows, cost realization and capital returns materially outweigh the lowlights.Company Guidance
Record Invested Assets and Strong Asset-Gathering
Group invested assets reached a record $7.3 trillion; Global Wealth & Asset Management combined exhibited robust inflows with GWM net new assets of $36 billion (3% annualized) and Asset Management net new money of $6 billion. UGA invested assets reached $366 billion and My Way discretionary solutions exceeded $40 billion (up 75% YoY).
Material Revenue and Profit Growth
Group revenues increased 16% YoY to $13.3 billion and underlying pretax profit rose 45% YoY to $3.9 billion; reported net profit was $2.8 billion with EPS of $0.87. Return on CET1 was 16.4% in the quarter and roughly 17% for the first half.
Investment Bank Outperformance
Investment Bank revenues rose 31% YoY to $3.7 billion with pretax profit more than doubling to $1.2 billion and a pretax RoE above 23%. Capital Markets grew 55%, Global Banking revenues rose 33%, and Equities revenues increased 53%.
Global Wealth Management Momentum
GWM pretax profit was $2.0 billion, up 38% YoY, with positive operating jaws of 7 percentage points. Recurring net fee income grew 11% to $3.7 billion and transaction-based income rose 23% to $1.5 billion (12th consecutive quarter of double-digit YoY growth).
Cost Synergies and Operating Leverage
Delivered $1.1 billion of gross cost reductions in Q2 and $12.6 billion cumulative savings since end-2022; more than 90% of expected cost synergies realized and on track for $13.5 billion by year-end. Operating expenses were up 7% on stronger revenues but down 7% excluding variable compensation, litigation and currency, producing +8 percentage points of operating leverage and a cost/income ratio of 70%.
Balance Sheet and Liquidity Strength
Total assets $1.7 trillion; loan book grew 1% sequentially; deposits broadly stable. Total loss-absorbing capacity $194 billion, NSFR 115% and LCR 177%. CET1 ratio was 14.4% and CET1 leverage 4.4%.
Progress on Integration and Simplification
Close to substantially completing integration by year-end: all clients migrated, wind down of Non-core & Legacy nearing completion, and >90% of legacy business applications no longer in use, enabling accelerated decommissioning and simplification.
Regional Outperformance, Especially APAC and Americas
Pretax profit doubled in APAC and grew 85% in the Americas (group-level commentary). In GWM, APAC pretax profit +48% with a 45% pretax margin and Americas pretax profit +47% with record quarterly revenues.
Capital Return and Share Buyback Program
Announced intention to buy back $3 billion of shares by latest Q2 2027, with at least $1 billion to be repurchased over the next three months (timing conditional on performance, maintaining CET1 ~14% and regulatory deliberations).
MX:UBSN 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