The PNC Financial Services Group, Inc. (PNC) Q3 FY2026 earnings

Reported results

• Net income (GAAP): $2.097 billion; Diluted EPS (GAAP): $4.97; Diluted EPS (non-GAAP as adjusted): $5.09
• Net interest income (GAAP): $4.206 billion, up 2% vs. 2Q26; Net interest margin (non-GAAP): 2.94%
• Noninterest expense (GAAP): $3.751 billion, down 8% vs. 2Q26; Noninterest expense (non-GAAP as adjusted): $3.724 billion, down 3% vs. 2Q26
• Average loans: $372.2 billion, up 2% vs. 2Q26; Average deposits: $461.2 billion, up 1% vs. 2Q26
• Return on average tangible common equity (non-GAAP): 18.28%; CET1 capital ratio (estimated): 9.8%
• Provision for credit losses: $189 million; Net loan charge-offs: $257 million including $35 million from student loan portfolio transfer

Guidance

• Federal Reserve expected to raise rates twice more, at December 2026 and March 2027 FOMC meetings, bringing federal funds rate to a range of 4.25% to 4.50%
• Share repurchase activity in Q4 2026 expected to approximate Q3 2026 share repurchase levels
• PNC’s baseline forecast for continued expansion in 2026 into 2027, with real GDP growth above 2%

Notes

PNC incurred $36 million of integration costs related to FirstBank acquisition in Q3 2026; Integration costs and significant items resulted in $48 million decline in net income, or $0.12 reduction to EPS; PNC updated its internal funds transfer pricing methodology in Q2 2026, with prior periods adjusted to conform to current presentation; $1.4 billion student loan portfolio transferred to held-for-sale.

Price and volatility reaction

The stock moved -0.4% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -2.9 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-15 (8-K, Item 2.02). Read the original filing on sec.gov.