Lloyds earnings: date, guidance and what to watch

Lloyds' next results are expected on October 29, 2026. Watch whether Lloyds is progressing against its income, cost, initiative-revenue and capital-generation promises.

What has Lloyds guided for the year?

Management has raised its strategic-initiative revenue promise to £2 billion by the end of 2026 and targets return on tangible equity above 16%. Return on tangible equity measures profit against shareholders’ tangible capital, so the two promises belong together: extra revenue matters only if enough survives as profit.

The first half supports the plan. Return on tangible equity reached 17.1%, other income grew 11% and operating costs stayed broadly flat. The full-year tests remain underlying net interest income above £14.9 billion, operating costs below £9.9 billion and a cost:income ratio below 50%. That ratio shows how much income operating costs consume.

Did Lloyds keep its past promises?

Delay matters because bad decisions can look successful at first. Deferred awards and provisions to reduce or recover them allow later losses or customer harm to affect pay. Lloyds said it met around 80% of its strategic outcome targets for 2024. For 2025, the remuneration committee reduced the financial score from 81.9% to 74.0% after considering the motor-finance provision, even though that provision had been excluded from the original bonus measures.

How has Lloyds' revenue and profit changed over the last eight quarters?

Revenue reached £5,442 million, up 16.0% year on year. Net interest income reached £3,622 million, and its steady quarterly progression since September 2024 is stronger evidence than one unusually good period.

After-tax profit was £1,568 million, while diluted EPS was 2.40p. The bad-loan charge rose to £322 million from £132 million, although the comparison starts from an unusually favourable provision period.