American Express Company Q3 2026 Earnings Recap

American Express shares fell 3.7% after earnings, despite higher EPS guidance, suggesting investors focused on the gap between 9% quarterly revenue growth and the company’s reaffirmed 10% full-year revenue growth outlook. The quarter also included a sizable restructuring charge and legal expense, while the transcript provided no detail on the rest of the call to clarify the market’s concern.

Key Takeaways

• Revenue reached a record $20 billion, up 9%; EPS was $5.42 reported and $4.68 adjusted.
• Management reaffirmed 10% revenue growth guidance and raised full-year EPS guidance to $18.30–$18.60 reported, or $17.60–$17.90 adjusted.
• The company recorded a $336 million restructuring charge, with approximately 5% of global positions expected to be eliminated.
• Adjusted EPS included legal expense, including the unreserved portion of an OCC civil money penalty; management said the fine does not affect 2026 guidance.
• American Express closed its Global Business Travel transaction during the quarter and is using part of the gain for restructuring and increased marketing and technology investment.