$WFC · WELLS FARGO & COMPANY/MN
Wells Fargo reported Q3 2026 net income of $5.951B ($1.87 diluted EPS) on revenue of $21.87B, a 2% YoY increase. Net interest income rose 5% to $12.52B, while noninterest income slipped 1% to $9.35B. The provision for credit losses surged 51% YoY to $1.029B. The CET1 ratio under the Standardized Approach declined to 10.03% from 10.99% a year ago.
- Q3 diluted EPS of $1.87, up 13% from $1.66 in Q3 2025.
- Total revenue of $21.87B, up 2% YoY; net interest income rose 5% to $12.52B.
- Provision for credit losses jumped 51% YoY to $1.029B from $681M.
- CET1 ratio under Standardized Approach fell to 10.03% from 10.99% a year ago.
- Common shares outstanding declined 5% YoY to 3.002B, boosting per-share metrics.
Extended-hours last trade at $82.75, up 0.09% from regular close — essentially flat. The modest revenue beat and 13% EPS growth were offset by a 51% spike in credit provisions and a declining CET1 ratio, leaving the market unmoved.
The 51% jump in credit provisions alongside a declining CET1 ratio signals that loan-loss normalization is accelerating even as revenue growth holds, a tension that will define bank earnings through year-end.
Wells Fargo's 2% revenue growth and 13% EPS gain reflect the broader large-bank trend of net interest income tailwinds from higher-for-longer rates, though the 51% jump in credit provisions signals mounting consumer/commercial credit normalization across the sector.
Provision for credit losses rose 51% YoY to $1.029B, driven by higher loan balances and a $319M increase in the allowance build versus a $273M release a year ago. Net charge-offs ticked up 3% to $983M. The CET1 ratio declined 96 bps YoY to 10.03%, narrowing the buffer above the 8.50% regulatory minimum.