Q2 2026 Wells Fargo & Co Earnings Call Transcript
Key Points
- Wells Fargo & Co (WFC) reported a 25% increase in diluted earnings per share to $2, with revenue growing 9% year-over-year.
- The company achieved broad-based growth across all operating segments, with net interest income up 5% and noninterest income up 13%.
- Wells Fargo & Co (WFC) returned over $9.8 billion of capital to shareholders in the first half of the year, including $7 billion in stock repurchases.
- The company plans to increase its third-quarter common stock dividend by 11%, subject to board approval.
- Consumer and commercial credit quality remained strong, with net loan charge-offs declining by 10 basis points from a year ago.
- Expenses increased by 2% from a year ago, driven by investments and higher revenue-related compensation.
- The net interest margin declined by 4 basis points from the first quarter, primarily due to growth in interest-bearing deposits and markets business.
- The company faces challenges in achieving its medium-term ROTCE target of 17% to 18% due to unpredictable interest rates and market conditions.
- Noninterest-bearing deposit growth was lower than expected, impacting the net interest income outlook.
- The markets business asset growth is expected to slow in the second half, which may affect overall balance sheet growth.
Welcome and thank you for joining the Wells Fargo second-quarter 2026 earnings conference call. (Operator Instructions) Please note that today's call is being recorded.
I would now like to turn the call over to John Campbell, Director of Investor Relations. Sir, you may begin the conference.
Good morning, everyone. Thanks for joining our call today where our CEO, Charlie Scharf; and our CFO, Mike Santomassimo, will discuss second quarter results and answer your questions. This call is being recorded.
Before we get started, I would like to remind you that our second quarter earnings materials, including the release, financial supplement, and presentation deck are available on our website at wellsfargo.com.
I'd also like to caution you that we may make forward-looking statements during today's call that are subject to risks and uncertainties. Factors that may cause actual results to differ materially from expectations are detailed in our SEC filings including the Form 8-K filed
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