LendingClub (LC) Q3 2026 Earnings
How Did LC Stock React to Q3 2026 Earnings?
Did LC Beat Earnings? Q3 2026 Results
Yes. LendingClub reported Q3 2026 earnings of $0.50 a share on Oct 28, 2026, beating the $0.45 consensus estimate by 10.3%. Revenue was $263.2M against a $272.7M estimate.
Happen, Inc. kicked off its post-rebrand era with a mixed but broadly encouraging third quarter, as the digital-first bank formerly known as LendingClub beat Wall Street's earnings target for a fifth straight quarter while falling short on revenue. GAAP diluted EPS of $0.50 topped the $0.45 consensus by 10.30%, supported by record pre-tax income of $76.80 million and a 35% year-over-year gain in per-share earnings. Revenue of $263.16 million missed the $272.67 million estimate by 3.49% and slid 24.7% from a year ago, a figure shaped heavily by the company's January 2026 shift to fair value option accounting, which reroutes credit and market movements through non-interest income rather than a traditional CECL provision. Originations grew 26% year-over-year to $3.30 billion, fueled by new paid social and display acquisition channels, even as marketing expense climbed 79%. Looking ahead, management raised full-year 2026 diluted EPS guidance to $1.87–$1.92, reflecting projected annual growth of 61%–66%, with fourth-quarter EPS guided to $0.43–$0.48.
- Originations up 26% year-over-year to $3.3 billion, driven by product and marketing initiatives
- Origination fees up 64% year-over-year to $173.2 million
- Net interest income up 16% year-over-year to $183.1 million
- Provision benefit of $15.9 million versus a $46.3 million expense in the prior year, due to strong credit and FVO accounting
- Net charge-off ratio improved to 3.1% from 3.4%
- Risk-adjusted revenue up 27% to $279.1 million
- Pre-tax profit margin of 29.2% versus 21.5% in the prior year
“We had another great quarter, effectively navigating the dynamic rate environment to deliver record pre-tax income of $76.8 million and a return on tangible common equity of 15.8%, while growing originations 26% year-over-year to $3.3 billion.”
LendingClub CEO, on the earnings call
What Is LendingClub's Outlook?
Happen raised full-year 2026 diluted EPS guidance to $1.87–$1.92 from $1.80–$1.90, which it says reflects 61%–66% annual growth. It narrowed full-year loan originations guidance to $12.3B–$12.4B, or 26%–27% annual growth, prioritizing unit margins in the elevated rate environment. Fourth-quarter 2026 guidance calls for loan originations of $3.1B–$3.2B and diluted EPS of $0.43–$0.48. Guidance assumes a stable consumer and interest rate environment, with a 25 basis point increase in the Fed funds rate in December. The company expects the transition to FVO accounting to result in a higher return on invested capital over time.
LC YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $263.2M | $349.6M | −24.7% |
| Net Income | $59.3M | $44.3M | +33.9% |
LC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.