PNC earnings: guidance and what to watch
PNC's next results are expected on January 15, 2027. Watch whether interest income reaches its target while deposit costs remain manageable and loan losses stay controlled.
What has PNC guided for 2026?
For 2026, management guides to 13.7% revenue growth and 9.5% noninterest-expense growth. It expects net interest income to rise 15.5%. For the quarter to December 2026, it guides to 4.0% net interest income growth from September. It expects a 3.0% NIM and $250 million of net charge-offs.
| Period | Low | High | Date given | |
|---|---|---|---|---|
| Net interest income | Year to Dec 2026; change from 2025 | 15.5% | 15.5% | Oct 15, 2026 |
| Total revenue | Year to Dec 2026; change from 2025 | 13.7% | 13.7% | Oct 15, 2026 |
| Noninterest expense | Year to Dec 2026; change from 2025 | 9.5% | 9.5% | Oct 15, 2026 |
| Net interest income | Quarter to Dec 2026; change from Sep 2026 | 4.0% | 4.0% | Oct 15, 2026 |
| Net charge-offs | Quarter to Dec 2026 | 250 | 250 | Oct 15, 2026 |
| NIM | Quarter to Dec 2026 | 3.0% | Oct 15, 2026 |
What this means. The adjusted figures leave out one-time merger costs, while the generally accepted accounting figures include them, so the two growth rates differ.
Did PNC keep its past promises?
PNC targeted US$350 million of continuous-improvement savings for 2025 and reported exceeding that goal. Revenue grew faster than expenses, producing positive operating leverage: more revenue reached profit because costs grew more slowly.
What has PNC's revenue and profit trend been?
Revenue reached US$6,562 million, up 10.9% from a year earlier, while net income rose to US$2,081 million. Net interest income reached US$4,206 million, helped by FirstBank and continued commercial lending.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,562 | 6,875 | 6,165 | 6,071 | 5,915 | 5,661 | 5,452 | 5,567 |
| Net income | 2,081 | 2,040 | 1,760 | 2,020 | 1,808 | 1,627 | 1,481 | 1,610 |
| EPS, diluted | 4.97 | 4.81 | 4.13 | 4.88 | 4.35 | 3.85 | 3.51 | 3.77 |
What this means. The 2026 revenue and profit numbers include FirstBank from January 5, so some of the increase comes from buying another bank, not just growing the existing business.
What should you watch in PNC's next results?
The December quarter should reveal whether interest income reaches its target, deposit costs remain manageable and loan losses stay controlled. A charge-off records a loss that has become real. A provision is the expense used to build or adjust reserves for expected losses. If PNC lends $100 and expects $5 will not be repaid, it can record a provision before the borrower defaults. In the third quarter of 2026, net charge-offs were $257 million and provision expense was $189 million.