Earnings Call
Jul 14, 2026
Q2 FY2026
EPS Estimate
1.73
EPS Actual
2.00
Post-Earnings Close
$85.29
Earnings Reaction
-2.7%
Wells Fargo posted a standout second quarter, with diluted EPS of $2.00, a 25% increase year-over-year and a substantial beat against the $1.73 consensus estimate. Revenue grew 9% from a year ago, with every operating segment generating higher net interest income and noninterest income simultaneously, a milestone that underscores the breadth of the recovery. Net interest income rose 5% year-over-year and 2% sequentially, while noninterest income surged 13%, crossing $10 billion in a single quarter for the first time. Investment banking fees hit a record $900 million-plus, and the Corporate and Investment Bank delivered 16% revenue growth overall, with markets up 24% and banking up 20%. The efficiency ratio improved to 60%, down 4 percentage points from a year ago, and RoTCE climbed to 17.7%, approaching the lower bound of management's 17%-18% medium-term target.
Report generated on Jul 14, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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