KeyCorp Earnings Recaps
Q2 2026
Jul 23, 2026
Shares of KeyCorp edged down 0.9% following second quarter results that reflected modest growth but fell short of providing a meaningful catalyst for investors, with the stock reacting neutrally amid no apparent surprises or significant shifts in outlook.
Key takeaways
- Reported earnings per share of $0.44, up 26% year over year, supported by 7% revenue growth and 9% pre-provision net revenue growth.
- Net interest margin expanded sequentially to 2.89%, with management targeting a 3%+ margin by year-end.
- Commercial loans increased $2.1 billion (3%) sequentially, driven by new client relationships across multiple industries.
- Noninterest income grew modestly by 2%, while expenses rose 5%, reflecting controlled cost growth.
- Asset quality remained stable with net charge-offs at 42 basis points and a $23 million reserve release influenced by improved economic scenarios.
Q1 2026
Apr 16, 2026
KeyCorp delivered a robust first quarter with earnings up 33% YoY, driven by revenue growth, margin expansion, and disciplined capital management, underpinning strong momentum into 2026.
Key takeaways
- Earnings per share rose 33% YoY to $0.44, supported by a 10% revenue increase and net interest margin expansion to 2.87%.
- Commercial loan growth was broad-based, increasing $3.3 billion (4%) sequentially; overall client relationships and deposits demonstrated healthy momentum.
- The bank repurchased nearly $400 million of stock, exceeding the $300 million commitment, and expects to buy back at least $1.3 billion in 2026.
- Strong capital position with a preliminary CET1 ratio around 11% under Basel III proposals, providing flexibility for continued share repurchases and strategic investments.
- Investment banking pipelines remain elevated, with a strategic focus on expanding wealth and relationship banking, complemented by $1 billion investment in technology, including AI initiatives.
Q3 2025
Oct 16, 2025
KeyCorp's third quarter 2025 results showcased strong growth, with earnings per share of 41¢ and a significant increase in revenues, marking a robust trajectory towards a record revenue year.
Key takeaways
- Revenues grew by 17% year-over-year, driven by consistent net interest income growth and high single-digit increases in fee income.
- Return on assets surpassed 1%, and pre-provision net revenue rose by $33 million quarter-over-quarter, marking six consecutive quarters of improvement.
- The net interest margin achieved 2.75%, surpassing year-end targets a quarter early, reflecting effective portfolio strategy shifts towards higher-yield C&I loans.
- CET1 capital ratio approached 12%, providing flexibility for future growth initiatives, including share repurchases planned for Q4.
- Company expects to achieve a return on tangible common equity of 15% or better by 2027, supported by continued focus on relationship lending and expense management.