Truist Financial (TFC) Q1 2026 Earnings
Reported Apr 17, 2026 at 6:30 AM ET · SEC Source
Q1 26 EPS
$1.09
BEAT +8.98%
Est. $1.00
Q1 26 Revenue
$5.15B
MISS 0.63%
Est. $5.18B
vs S&P Since Q1 26
-2.0%
TRAILING MARKET
TFC +2.8% vs S&P +4.9%
Market Reaction
Did TFC Beat Earnings? Q1 2026 Results
Truist Financial delivered a notably strong first quarter for 2026, with earnings per share of $1.09 beating the consensus estimate of $1.00 by 8.98%, even as revenue of $5.15 billion came in fractionally below expectations, missing by 0.63%. The EPS… Read more Truist Financial delivered a notably strong first quarter for 2026, with earnings per share of $1.09 beating the consensus estimate of $1.00 by 8.98%, even as revenue of $5.15 billion came in fractionally below expectations, missing by 0.63%. The EPS beat was underpinned by disciplined expense management, with noninterest expense falling 5.9% sequentially to $2.98 billion, and a surge in fee income, particularly a 36.3% jump in investment banking and trading revenue to $372 million, which helped push noninterest income up 12% year-over-year to $1.55 billion. Net income available to common shareholders reached $1.38 billion, generating 250 basis points of positive operating leverage and an improved efficiency ratio of 57.9%. The year-over-year revenue decline of 30.2% reflects prior-period asset sales rather than underlying deterioration. Looking ahead, management raised its 2026 share buyback target to $5 billion and reaffirmed confidence in achieving a 15% ROTCE by 2027, though at least one analyst firm moved to a neutral rating following the print.
Key Takeaways
- • 25% diluted EPS growth year-over-year
- • 12% noninterest income growth year-over-year driven by investment banking and trading, wealth management, and mortgage banking
- • 250 basis points of positive operating leverage year-over-year
- • Fixed-rate asset repricing benefiting net interest income
- • Noninterest expense down 5.9% sequentially due to lower other expense, personnel expense, and professional fees
- • Lower effective tax rate of 12.4% driven by discrete tax benefits and tax credit activity
- • 7.0% year-over-year average loan growth led by commercial and industrial
- • Total deposit costs declined 24 basis points year-over-year to 1.55%
TFC Forward Guidance & Outlook
For Q2 2026, Truist expects revenue (TE) to be stable versus Q1, noninterest expense to increase 3-4%, and share repurchases of approximately $1.2 billion. For full year 2026, revenue (TE) is expected to increase approximately 4% versus 2025, noninterest expense to increase approximately 1.75%, net charge-off ratio of approximately 55 basis points, effective tax rate of approximately 14.5% (FTE approximately 16.5%), and share repurchases of approximately $5 billion (up from $4 billion previously). Net interest income is expected to increase 2-3% in 2026 versus 2025 driven by 3-4% average loan growth, a stable Fed Funds rate, and fixed-rate asset repricing. The company is on track to achieve a 2027 ROTCE target of 15% and is establishing a long-term ROTCE target of 16% to 18%.
TFC YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
TFC Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered a strong first quarter, with earnings per share up 25% from the first quarter of 2025, driven by disciplined execution against our strategic priorities and continued momentum across the franchise.”
— Bill Rogers, Q1 2026 Earnings Press Release
TFC Earnings Trends
TFC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TFC EPS Trend
Earnings per share: estimate vs actual
TFC Revenue Trend
Quarterly revenue: estimate vs actual
TFC Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.00 | $1.09 | +8.98% | $5.15B | -0.63% |
| Q4 25 MISS FY | $1.09 | $1.00 | -8.50% | $5.25B | -1.33% |
| FY Full Year | — | $3.82 | — | $20.32B | — |
| Q3 25 BEAT | $0.99 | $1.04 | +4.72% | $5.19B | -0.21% |
| Q2 25 MISS | $0.93 | $0.91 | -2.02% | $4.99B | -0.88% |