Citizens Financial Group (CFG) Q3 2026 Earnings
3Q26 includes preferred stock early redemption costs of $4 million
How Did CFG Stock React to Q3 2026 Earnings?
Did CFG Beat Earnings? Q3 2026 Results
Yes. Citizens Financial Group reported Q3 2026 earnings of $1.41 a share on Oct 16, 2026, beating the $1.39 consensus estimate by 1.4%. Revenue was $2.3B against a $2.3B estimate.
Citizens Financial Group delivered a stronger-than-expected bottom line in the third quarter of 2026, posting GAAP diluted EPS of $1.41, which includes preferred stock early redemption costs of $4 million, and beating the $1.39 consensus estimate by 1.42%, marking the sixth consecutive quarter the company has exceeded EPS expectations. Net income climbed 29% year-over-year to $636 million, powered chiefly by net interest income growth of 13% to $1.68 billion as fixed-rate asset repricing and lower terminated swap impacts drove the net interest margin 19 basis points higher to 3.19% on an FTE basis. Revenue of $2.32 billion came in just shy of the $2.34 billion consensus, falling 24.8% from a year ago, though the sequential trajectory remained constructive. The Private Bank continued to gain momentum, contributing $0.16 to EPS with record wealth fees of $109 million. Institutional investors have taken note, with some meaningfully building positions in recent months. Looking ahead, management guided fourth-quarter NII up 2.5% to 3% and projects ROTCE reaching 16% to 18% by year-end 2027.
- NII up 13% YoY driven by 19 bps NIM expansion to 3.19% and 6% increase in interest-earning assets
- Positive operating leverage of 5.3% YoY and 1.8% QoQ
- Private Bank contributing $0.16 to EPS with ROE exceeding 25%
- Record wealth fees of $109 million, up 17% YoY on AUM growth
- Lower terminated swap impacts and fixed-rate asset repricing benefiting NIM
- Net charge-offs improved to 37 bps from 46 bps YoY reflecting Non-Core portfolio runoff and improving credit trends
- Return on average tangible common equity improved to 15.08% from 11.75% YoY
- Return on average total assets improved to 1.09% from 0.90% YoY
“We continued to deliver attractive revenue and earnings growth in the third quarter, notwithstanding significant volatility in the external environment. We remain focused on executing our strategic initiatives, advancing our AI, technology and cybersecurity agenda, and attracting great talent. We remain confident in our positioning and outlook for Q4 and for 2027.”
Citizens Financial Group CEO, on the earnings call
What Is Citizens Financial Group's Outlook?
For 4Q26 vs 3Q26: NII expected up ~2.5% to 3%; noninterest income up ~4 to 5%; noninterest expense up ~1%; net charge-offs stable to down slightly; CET1 ratio ~10.6% to 10.7% with ~$200 million in share repurchases expected; tax rate ~22%. NIM projected to reach 3.30-3.50% by 4Q27, supported by lower terminated swap impacts, fixed-rate asset repricing, and stable-to-improving balance sheet mix (assumes 10-year treasury rate of ~5.00% through end of 2027). Company is well positioned to achieve 16-18% ROTCE by end of 2027 given strategic initiatives and NII tailwinds. Reimagine the Bank program targeting ~$100 million pre-tax run-rate benefit by year-end 2026, ~$225 million by year-end 2027, and ~$450+ million by year-end 2028.
CFG YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.3B | $3.1B | −24.8% |
| Net Income | $636.0M | $494.0M | +28.7% |
CFG Revenue by Segment
When Does Citizens Financial Group Report Next?
Figures from SEC filings and company reports. Not investment advice.