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Citizens Financial Group

CFG Q1 2026 Earnings

Reported Apr 16, 2026 at 6:30 AM ET · SEC Source

Q1 26 EPS

$1.13

BEAT +3.96%

Est. $1.09

Q1 26 Revenue

$2.17B

BEAT +0.41%

Est. $2.16B

Did CFG Beat Earnings? Q1 2026 Results

Citizens Financial Group opened 2026 on solid footing, posting first-quarter earnings per share of $1.13 and beating the $1.09 consensus estimate by 3.96%, marking the company's fourth consecutive quarter of exceeding EPS expectations. Revenue came i… Read more Citizens Financial Group opened 2026 on solid footing, posting first-quarter earnings per share of $1.13 and beating the $1.09 consensus estimate by 3.96%, marking the company's fourth consecutive quarter of exceeding EPS expectations. Revenue came in at $2.17 billion, edging past the $2.16 billion consensus by 0.41%, though it reflected a 25.1% decline year-over-year as the company's deliberate Non-Core portfolio runoff continued to reshape its balance sheet. The more telling story was profitability, with net interest income climbing 12% year-over-year to $1.56 billion as the net interest margin expanded 24 basis points to 3.14%, driven by fixed-rate asset repricing and meaningfully lower funding costs. The Private Bank buildout added $0.11 to EPS with a return on regulatory capital above 25%, underscoring the strategic pivot gaining traction. Management guided for second-quarter NII growth of 3% to 4% and sees NIM reaching 3.30% to 3.50% by the fourth quarter of 2027, with return on tangible common equity targeted at 16% to 18% by year-end 2027.

Key Takeaways

  • • NIM expansion of 7 bps QoQ and 24 bps YoY to 3.14%, driven by terminated swap benefits, Non-Core runoff, and fixed-rate asset repricing
  • • Capital Markets fees up 34% YoY driven by higher M&A, loan syndications, and equity underwriting
  • • Wealth fees up 23% YoY reflecting AUM growth largely from net inflows
  • • Private Bank contributing $0.11 to EPS with ROE >25%
  • • Interest-bearing deposit costs down 16 bps QoQ to 2.04%
  • • Favorable credit trends with NCO ratio declining to 39 bps from 58 bps YoY
  • • Positive operating leverage of 7.2% YoY

CFG Forward Guidance & Outlook

For 2Q26 vs. 1Q26: NII expected up 3-4%; noninterest income up 3-5% with growth across most fee categories; noninterest expense stable to up 1%; net charge-offs stable to down slightly; CET1 ratio of 10.5-10.6% with ~$225 million in share repurchases; tax rate ~22%. Medium-term targets include NIM of 3.30-3.50% by 4Q27 and ROTCE of 16-18% by end of 2027. Reimagine the Bank program targeting ~$450 million pre-tax run-rate benefit by year-end 2028, with ~$100 million expected by year-end 2026.

24/7 Wall St

CFG YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

CFG Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 24 Q1 26

“We are pleased to get off to a strong start in 2026 notwithstanding heightened geopolitical tensions and uncertainty in the macro environment. Our financial results in a seasonally soft quarter were good, with year-over-year EPS growth of 47%, positive operating leverage of 7%, NIM expansion of 7 bps sequentially and 24 bps versus a year ago, and a robust balance sheet position. Credit is trending favorably, the Private Bank continues to grow nicely, and Reimagine the Bank is off to a great start. We continue to be well-positioned to deliver a strong year and reach our medium-term targets.”

— Bruce Van Saun, Q1 2026 Earnings Press Release

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