United States earnings calls, October 13-16, 2026: banks raise 2026 outlooks
BNY Mellon said it expects 2026 net interest income, its lending and investing income minus interest paid, to rise 15%. State Street raised its 2026 outlook for that growth to 15%-16%, from 14%-15%.
An update from FactIQ, written from company statements in earnings calls of companies listed in the United States. What is FactIQ?
Key figures
- BNY Mellon, expected net interest income growth, full year 2026
- 15%stated by the chief financial officer; year-over-year increase
- State Street, net interest income growth outlook, fiscal year 2026
- 15%-16%stated by the chief financial officer; raised from 14%-15% in July
- BNY Mellon, positive operating leverage outlook, full year 2026
- nearly 500 basis pointsstated by the chief financial officer; up from 400 basis points three months earlier
- PNC Financial Services Group, growth in spot loans, third quarter of fiscal year 2026
- $11 billionstated by the chief financial officer
Two custody banks raised their full-year 2026 outlooks
BNY Mellon's chief financial officer said the company raised its full-year 2026 positive operating leverage outlook to nearly 500 basis points, from 400 basis points three months earlier. Positive operating leverage means revenue grows faster than expenses. The chief financial officer said BNY Mellon expects full-year 2026 net interest income, what it earns on loans and securities minus what it pays for funding, to increase 15% year-over-year. It also expects total revenue growth, excluding notable items, around the middle of a 12%-13% range.State Street's chief financial officer said the company raised its fiscal year 2026 fee revenue growth outlook to 13%-14% from 12%-13% in July. It raised its net interest income growth outlook to 15%-16% from 14%-15%. The chief financial officer said the implied pretax margin guide rose from around 32% to around 33%.
United States lenders expect growth to carry into the fourth quarter
- PNC Financial Services Group: the chief financial officer said spot loans grew $11 billion in the third quarter of fiscal year 2026. PNC expects net interest income to increase approximately 4% in the fourth quarter compared with the third quarter. It expects fee income to increase approximately 3.5%.
- U.S. Bancorp: the chief financial officer said operating leverage for fiscal year 2026 has increased from 200 basis points to 300 basis points. The bank said it sees a path to a 3% net interest margin, the gap between what a bank earns on loans and pays on deposits, at some point in 2027.
- Truist Financial: the chief executive said Truist remains committed to a 15% target for return on tangible common equity (ROTCE), a measure of profit against shareholders' equity excluding intangible assets, in calendar year 2027. Truist expects share repurchases of approximately $1 billion in the fourth quarter, after $1.2 billion in the third quarter.
Other companies reported higher sales or raised targets
- Fastenal: the chief executive said net sales were $2.46 billion in the third quarter of fiscal year 2026, up 15.5% year over year.
- Ericsson: the chief financial officer said group net sales were SEK 59.5 billion (Swedish kronor) in the third quarter of fiscal year 2026, with organic sales growth of 7%.
- Interactive Brokers: the chief financial officer said commission revenue rose 12% year over year to $602 million in the third quarter of fiscal year 2026.
- HDFC Bank: the chief executive said retail disbursements crossed INR 90,000 crore (Indian rupees) in the second quarter of fiscal year 2027, versus INR 76,000 crore in the first quarter.
- Prologis: the chief financial officer said the company increased its fiscal year 2026 same-store growth forecast to 5.5%-6% on a net effective basis.
- Marsh & McLennan: the chief executive said the company raised its Thrive savings target from $400 million to $600 million.
Source: Earnings calls of companies listed in the United States. See which companies FactIQ covers.
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