Q2 2026 American Express Co Earnings Call Transcript
Key Points
- American Express Co (AXP) reported a strong quarter with 10% revenue growth and an EPS of $4.53, continuing its positive momentum.
- The company raised its full-year revenue growth guidance to 10%, reflecting confidence in its strategic initiatives.
- American Express Co (AXP) has seen accelerated spend and revenue growth, particularly in its Platinum portfolio, which is now the fastest-growing segment in its US consumer business.
- The company has maintained strong credit performance, with delinquency and write-off rates remaining below 2019 levels.
- American Express Co (AXP) continues to attract high credit quality customers, with 65% of new consumer accounts coming from Millennials and Gen Zs.
- Despite raising revenue guidance, American Express Co (AXP) did not increase its EPS guidance, choosing instead to reinvest in growth initiatives.
- The sale of two small business co-brand portfolios is expected to impact spend growth by about 1 percentage point and net interest income by 2.5 percentage points in Q4.
- The company's VCE-to-revenue ratio is slightly higher than expected due to increased spending, impacting expense management.
- There is a potential headwind from geopolitical events, although it has not yet significantly impacted overall performance.
- The integration and investment costs associated with the proposed acquisition of TheFork may affect financials in the second half of the year.
Welcome to the American Express Q2 2026 earnings call. At this time, all participants are in listen-only mode until we conduct a question-and-answer session later on. As a reminder, today's call is being recorded. I will now turn the call over to Kartik Ramachandran, Head of Investor Relations. Please go ahead.
Thank you, Donna, and thank you all for joining today's call. Today's discussion contains forward-looking statements about the company's future of business and financial performance. These are based on management's current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these statements are included in today's presentation slides and in our reports on file with the SEC.
Today's discussion also contains non-GAAP financial measures. Comparable GAAP financial measures are included in this quarter's earnings materials, as well as the prior period earnings materials discussed today.
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