PNC Q3 Profit Climbs to $1.99 Billion as Net Interest Income Jumps
PNC reported higher third-quarter 2026 earnings, with EPS of $4.97 and net interest income of $4.21 billion, while shares slipped in pre-market trading.
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what happened
According to RTTNews, published via dpa-AFX, PNC Financial Services Group posted third-quarter net income attributable to diluted common shareholders of $1.99 billion, up from $1.72 billion a year earlier. Diluted earnings per share rose to $4.97 from $4.35. Excluding integration costs and significant items, adjusted net income reached $2.04 billion, or $5.09 per share.
Revenue climbed to $6.56 billion from $5.92 billion. Net interest income increased to $4.21 billion from $3.65 billion, while noninterest income edged up to $2.36 billion from $2.27 billion. The company said its return on average tangible common equity reached 18.3%. A separate summary from PR Newswire, which cites a $2.1 billion net income figure, also reported a 2.94% net interest margin, a 57% efficiency ratio, a $189 million provision and $257 million in net charge-offs.
In pre-market trading on the NYSE, the shares fell 3.10% to $209.00.
why it matters
The gap between the $1.99 billion net income figure and the $2.04 billion adjusted figure reflects integration costs and other one-off items, so investors are focusing on the adjusted measure. Growth in net interest income is the main driver, but the net interest margin slipped to 2.94% from 2.96% in the previous quarter, so funding costs bear watching. The pre-market decline in the shares points to a cautious market reaction at the open.
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