Amex earnings: October 23, 2026 guidance
Amex reports its next results on October 23, 2026. Watch whether fee growth covers the cost of refreshed benefits.
What has Amex guided for 2026?
Amex can reach $432.19 by October 2029 for a 43% total return including dividends if it converts spending and premium renewals into durable earnings while controlling costs and credit. Management’s July 24, 2026 guidance calls for 10.0% full-year revenue growth and EPS of $17.30–$17.90. Its 2026 capital target is a CET1 ratio of 10.0%–11.0%; planned term-debt issuance is $4,000–$8,000 million unsecured and $1,000–$3,000 million secured. Net card-fee growth should accelerate in Q3 and reach the high teens in Q4.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Full-year revenue growth | Year to Dec 2026 | 10.0% | 10.0% | Jul 24, 2026 |
| Full-year EPS | Year to Dec 2026 | 17.30 | 17.90 | Jul 24, 2026 |
| Unsecured term debt issuance | Year to Dec 2026 | 4,000 | 8,000 | Jul 24, 2026 |
| Secured term debt issuance | Year to Dec 2026 | 1,000 | 3,000 | Jul 24, 2026 |
| Net Card Fees YoY% (FX-adjusted), Q4 exit | Quarter to Dec 2026 | Jul 24, 2026 | ||
| CET1 Ratio Target | 2026 ongoing capital target | 10.0% | 11.0% | Jul 24, 2026 |
Did Amex keep its past promises?
For 2025, AmEx delivered 10% revenue growth and earnings per share of $15.38, within the ranges management had reaffirmed. That is evidence of execution, although the shrinking share count also helped earnings per share. In July 2026, management raised its revenue-growth forecast to 10%, retained its earnings guidance and increased investment. The test is whether that spending produces customers and earnings that last.
What is Amex's recent revenue and profit trend?
Revenue and net income rose, while diluted EPS grew faster because the average diluted share count fell. That is a favorable result, but EPS is not a separate source of operating improvement.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 19,637 | 18,907 | 18,980 | 18,426 | 17,856 | 16,967 | 17,179 | 16,636 |
| Net income | 3,110 | 2,971 | 2,462 | 2,902 | 2,885 | 2,584 | 2,170 | 2,507 |
| EPS, diluted | 4.53 | 4.28 | 3.53 | 4.14 | 4.08 | 3.64 | 3.04 | 3.49 |
What should I watch in Amex's next results?
Amex reports third-quarter results on October 23, 2026. Investors will look for continued fee growth, customer spending and the cost of delivering the refreshed benefits. The December quarter will test management’s expected acceleration in card-fee growth.
The penalty is not the whole financial problem. Employees, systems, monitoring and outside reviews may create continuing remediation costs, and future penalties remain possible even though full-year guidance is unchanged.