KeyCorp: Mixed — EPS $0.51, Revenue $2.04B
Mixed ResultQ3 2026 · Pre-market
@trystockwhiz
Did KeyCorp (KEY) beat earnings today?
It was a mixed report for Q3 2026 — KeyCorp (KEY) beat on EPS but missed on revenue.
Earnings Per Share+10.87% surprise
$0.51Actual
Expected: $0.46
vs. year ago +24.4%
Total Revenue-0.34% surprise
$2.04BActual
Expected: $2.05B
vs. year ago +8.4%
Released Oct 20 · 6:30 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $2.04B | $1.89B | +8.4% |
| Consolidated revenue by source | |||
| └─Net interest income | $1.30B | $1.18B | +9.8% |
| └─Noninterest income | $744.00M | $702.00M | +6.0% |
| Revenue by business — separate view | |||
| └─Consumer Bank | $1.05B | $991.00M | +5.9% |
| └─Commercial Bank | $1.20B | $1.11B | +7.7% |
| └─Other | ($198.00M) | ($211.00M) | +6.2% |
| GAAP Basic EPS | $0.51 | $0.41 | +24.4% |
| GAAP Diluted EPS | $0.51 | $0.41 | +24.4% |
| Adj. Diluted EPS | $0.51 | $0.41 | +24.4% |
| Net Income | $537.00M | $454.00M | +18.3% |
Business Highlights
- ➤Repurchased $320M of common shares during the quarter.
- ➤Declared a $0.205 per-common-share dividend.
- ➤Average deposits increased $3.6B sequentially, led by demand and money market deposits.
- ➤Investment banking and debt placement fees increased 27% sequentially.
- ➤Commercial and industrial average loan balances grew, while low-yielding consumer loans continued to run off.
- ➤Credit quality improved broadly, including lower net charge-offs and nonperforming assets.
- ➤Common Equity Tier 1 ratio remained above well-capitalized regulatory benchmarks.
- ➤Continued investments in teammates and technology supported performance.
- ➤Consumer Bank operated 935 branches and 1,088 ATMs.
- ➤Key serves individuals and businesses in 15 states through KeyBank National Association.
Management Commentary
Chris Gorman, Chairman and CEO
“Our third quarter results reflect the strength of Key's relationship-driven franchise, the disciplined execution of our strategy, and the momentum we are building across the business. We delivered record revenue and record pre-provision net revenue, while generating a return on tangible common equity exceeding 15%. These results reinforce our confidence in achieving and sustaining a return on tangible common equity of 15%+ by the end of 2027. Our performance this quarter demonstrates the power of our balanced business model. Average deposit balances increased $3.6 billion sequentially, supporting continued net interest margin expansion. Our capital markets team delivered strong results with investment banking and debt placement fees increasing 27% sequentially. Concurrently, we maintained our disciplined approach to risk management, evidenced by broad-based improvement in credit quality metrics, including lower net charge-offs and nonperforming assets. Client engagement remains strong, supported by a constructive economic environment and continued confidence among the businesses and communities we serve. We continue to see opportunities to deepen client relationships, capture additional share of wallet, and drive sustainable growth across the franchise. Key is well positioned to perform across a broad range of economic scenarios, supported by our solid capital levels, strong liquidity profile, and well-diversified business mix. The ongoing investments we have made in teammates and technology are translating into stronger performance today while concurrently positioning us for greater value in the future. Looking ahead, we remain focused on executing with discipline, capturing the significant organic growth opportunities across our franchise, and delivering significant value for all our stakeholders.”