EarningsQ2 2026 Earnings Report
MX:WFC Q2 2026 EPS Results
Actual EPS$34.53
Consensus EPS$29.63
Beat/MissBeat by +$4.90
One Year Ago EPS$27.62
MX:WFC Q2 2026 Revenue Results
Actual Revenue$571.75B
Expected Revenue$377.44B
Beat/MissBeat by +$194.31B
YoY Revenue Growth+8.15%
Earnings Announcement Details
QuarterQ2 2026
Date07/14/2026
TimeBefore Open
Conference CallTuesday, July 14, 2026
MX:WFC Upcoming Earnings
Wells Fargo's next earnings date is estimated for October 13, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WFC Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broad set of positive operating and financial trends: double‑digit improvements in EPS, revenue growth, strong loan and deposit expansion, improving efficiency, robust investment banking and markets momentum, and better credit metrics. Management reiterated full‑year NII guidance and a clear focus on achieving a 17%–18% RoTCE target. Counterbalancing these positives are near‑term margin pressure from growth in interest‑bearing deposits and markets financing, reliance on lumpy venture gains, declines in home lending/servicing revenue, and some regulatory/capital rule uncertainty. On balance the company showed sustainable operational momentum, but investors should watch NIM trajectory, deposit mix, and the translation of markets balance sheet growth into stable long‑term returns.Company Guidance
Strong EPS and Revenue Growth
Diluted EPS of $2.00, up 25% year over year; total revenue grew 9% year over year, driven by broad-based strength across all operating segments.
Net Interest and Fee Income Expansion
Net interest income increased 5% year over year (up $690 million) and noninterest income grew 13% year over year (up ~$1.2 billion), with over $10 billion in noninterest income in the quarter.
Robust Loan and Deposit Growth
Average loans increased 12% year over year (~$110 billion) and average deposits increased 10% year over year (~$134 billion), reflecting broad-based growth across consumer and commercial businesses.
Improving Efficiency and Controlled Expenses
Noninterest expense rose only 2% year over year while the efficiency ratio improved to 60% (down 4 percentage points year over year). Headcount declined for the 24th consecutive quarter to 197,000 (7% reduction year over year).
Credit Quality Strength
Net loan charge-off ratio improved to 34 basis points (down 10 bps year over year); commercial NCOs down to 10 bps and consumer charge-offs improved materially (consumer charge-offs declined ~74 bps), with nonperforming assets declining year over year.
Capital Returns and Strong Capital Position
Returned over $9.8 billion of capital to shareholders in the first half (including $7 billion buybacks); repurchased $3 billion in Q2; common shares outstanding down 6% year over year. CET1 ratio at 10.3%, inside the 10%–10.5% target range and above minimum regulatory buffers.
Improved Returns and Strategic Targeting
RoTCE rose from 15.2% a year ago to 17.7% in Q2; management reiterated a medium‑term RoTCE target of 17%–18% and expressed confidence in achieving it given current favorable trends.
Segment Momentum — Markets, Investment Banking, Wealth, Consumer
Corporate & Investment Bank revenue up 16% YoY; Markets revenue up 24% YoY; Banking revenue up 20% YoY. Wealth & Investment Management revenue grew 13% YoY with client assets up 15% YoY to >$2.4 trillion and four consecutive quarters of positive net flows. Investment banking fees a record >$900 million in Q2.
Consumer Franchise Gains
Consumer primary checking accounts have grown year over year for 13 consecutive quarters; mobile active users reached 33.7 million (up 1.6 million YoY); new credit card accounts rose sharply (new accounts +46% YoY in Q2); auto originations +41% YoY and average auto balances +31% YoY.
Positive One-time / Portfolio Gains
Venture capital and equity investments contributed $847 million in realized and unrealized net equity gains ($640 million after noncontrolling interest), boosting noninterest income in the quarter.
MX:WFC 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