Key facts
- Wells Fargo reported third-quarter 2026 net income of $5,951 million, or $1.87 per diluted share, per the earnings summary.
- The provision for credit losses rose to $1,029 million from $681 million a year earlier, the summary said.
- Noninterest expense fell 1% to $13,743 million as headcount dropped 8% to 194,000.
- The summary said Wells Fargo repeated guidance of about $50 billion of 2026 net interest income, unchanged from prior guidance.
- The common equity tier 1 ratio was 10.0%, down from 11.0% a year earlier, according to the summary.
Wells Fargo reported third-quarter 2026 net income of $5,951 million, or $1.87 per diluted share, according to an earnings summary published November 11, 2026. That compared with $6,407 million and $2.00 a share in the second quarter and $5,589 million and $1.66 a share a year earlier.
Total revenue was $21,870 million, down from $22,622 million in the second quarter and up from $21,436 million a year earlier. Net interest income rose to $12,517 million from $12,317 million in the second quarter and $11,950 million a year earlier, and the net interest margin held at 2.43%. Noninterest income fell to $9,353 million from $10,305 million in the second quarter.
The provision for credit losses rose to $1,029 million from $681 million a year earlier, made up of $983 million of net charge-offs and a $46 million increase in the allowance, against a $273 million allowance release a year earlier. The summary said commercial charge-offs rose while consumer charge-offs fell.
Noninterest expense was $13,743 million, down 1% from a year earlier. Headcount fell 8% to 194,000, and personnel expense was $276 million lower, partly offset by higher revenue-related pay. The efficiency ratio was 63%, against 65% a year earlier and 60% in the second quarter. The release noted $170 million of discrete tax benefits in the quarter.
The summary said the presentation gave no revenue or earnings guidance but repeated two outlook figures unchanged from prior guidance: 2026 net interest income of about $50 billion and 2026 noninterest expense of about $55.7 billion. It also cited an expectation of about $13 billion of net interest income in the fourth quarter. The common equity tier 1 ratio was 10.0%, against 10.3% in the second quarter and 11.0% a year earlier, and return on tangible common equity was 16.3%.