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Q3 2026 Bank Earnings Preview: What JPMorgan, Goldman, Citi, Wells, BofA and Morgan Stanley Need to Show

Six megabanks open third-quarter earnings season on Oct. 13 and 14. Here is the schedule, what each bank guided to, and the numbers that will move the stocks.

EarningsBy · Markets EditorUpdated 5 min read

Third-quarter earnings season starts for real on Tuesday, October 13, 2026, and as usual the big banks go first. Four of the six largest U.S. lenders report before the open on Tuesday and the other two follow on Wednesday. Because their results touch consumer credit, corporate borrowing, dealmaking and trading all at once, the market reads them as an early check on the economy as well as on the banks.

This quarter there is more riding on them than usual. Investing.com notes that the S&P 500 Banks Index is down 7.5% over the past month as Treasury yields climbed, and CNBC points out that Wells Fargo shares have fallen 13% over the same stretch, the worst of the six. The bar for these reports is a recovery, not just a beat.

Q3 2026 bank earnings calendar

Release times below are Eastern Time, as published by the banks and compiled by SignalStack. JPMorgan confirmed its own timing in an investor relations release.

For West Coast readers, that means the first headlines hit at about 4:00 a.m. PT on Tuesday, well before the 6:30 a.m. PT open.

JPMorgan Chase: the guidance bar is already high

JPMorgan raised its full-year net interest income outlook in July to about $105.5 billion, from about $103 billion in April, according to SignalStack's summary of the bank's filings. In September, the bank said it expected investment banking fees and markets revenue to grow by a mid-to-high teens percentage in the third quarter, Trend & Ticker reported.

CNBC says analysts expect double-digit year-over-year earnings growth. Seaport Research Partners sounded cautious, writing that it is "above consensus on expenses, which could be guided higher as well." The history is a useful reminder about reactions: Bespoke data cited by CNBC shows JPMorgan beats estimates 82% of the time, but the stock fell after four of its last five reports.

Goldman Sachs: a dealmaking bellwether

Goldman reported a 55% jump in investment banking fees last quarter. LSEG consensus, via CNBC, calls for roughly 10% revenue growth and around 6% earnings growth. Goldman has topped earnings expectations for 12 straight quarters, and the stock rallied 9% after its last report. That run is exactly what makes it vulnerable if fees disappoint. Trend & Ticker notes that Evercore warned in early September that Street estimates were running ahead of the data, and the banks most tied to deal fees, Goldman and Morgan Stanley, carry the most exposure if the debt-market slowdown it flagged dragged on.

Citigroup: the re-rating story

Citi posted its highest quarterly revenue in a decade last quarter. Barchart consensus, cited by Trend & Ticker, puts this quarter's EPS at $2.70 versus $2.24 a year ago. Citi has set a 2026 return target of 10% to 11%, and its CFO later said he expected to slightly exceed it (SignalStack). Jefferies analyst David Chiaverini, who rates the stock a buy, told clients he sees "a re-rating of the cheapest money center bank as ROTCE becomes more comparable with peers." The caution: Citi fell after two of its last three reports.

Wells Fargo: can the worst performer bounce?

Wells is expected to grow earnings by more than 10%, per LSEG. Its full-year net interest income outlook of roughly $50 billion was left unchanged, according to SignalStack. Wells has beaten on the bottom line for 10 straight quarters, yet the stock fell after seven of those reports (Bespoke via CNBC). After a 13% slide in a month, the setup is different this time. Positioning may already be light.

Bank of America and Morgan Stanley on Wednesday

Bank of America took the opposite stance from JPMorgan in September and said it expected investment banking fees to fall at least 10% (Trend & Ticker). Barclays' Jason Goldberg expects "somewhat mixed results," with net interest income up about 2% quarter over quarter, strong wealth management fees, and trading and IB fees that "could lag peers." BofA beats estimates 81% of the time but averages a 0.6% decline on earnings days.

Morgan Stanley is expected to grow revenue nearly 10% (LSEG). Citizens analyst Devin Ryan wrote that "trading should come down sharply from 2Q," and said he had lowered his investment banking forecast. MS shares have risen after each of the last four reports.

Three numbers that will move bank stocks

  1. Net interest income guidance for 2027. With the Fed having hiked in September and the 10-year near 5.24% (Investing.com), higher-for-longer rates should help NII. Watch whether managements say so out loud.
  2. Investment banking fees. JPMorgan guided up and BofA guided down. Whichever is right sets the tone for Goldman and Morgan Stanley.
  3. Credit costs. Card charge-offs and reserve builds are the clearest read on the consumer, ahead of Thursday's retail sales data.

Where Loomi fits on an earnings morning

Bank reports land before the open, so the first reaction shows up in futures and options rather than in the stocks themselves. That is the situation Loomi's tools are built for. The GEX regime view shows whether dealer gamma positioning tends to damp moves or amplify them, and the options scanner picks up unusual flow in names like JPM or GS as the numbers come out. If you trade systematically, Loomi's automated strategies come with published rules, and each one has a reproducibility certificate. You can check how a strategy behaved through past catalyst weeks before you rely on it.

Our take

The pattern in CNBC's data stands out: these banks beat almost every quarter and the stocks often fall anyway. Beats are priced in. What moves the shares is guidance, especially on 2027 NII and expenses. For index traders, bank results on Tuesday morning arrive the day before Wednesday's September CPI report, so a strong financials open can be undone by an inflation surprise within 24 hours. Keep position sizes appropriate to a week with two catalysts.

— Rowan Ellery, Markets Editor, Loomi.Ai. Questions or corrections? See our research methodology.

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FAQ

When do the big banks report Q3 2026 earnings?

JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup report before the open on Tuesday, Oct. 13, 2026. Bank of America and Morgan Stanley report before the open on Wednesday, Oct. 14.

What time does JPMorgan report earnings on Oct. 13, 2026?

JPMorgan said results come out at about 7:00 a.m. ET (4:00 a.m. PT), with the conference call at 8:30 a.m. ET.

Why do bank stocks fall after beating earnings?

Beats are usually expected. Bespoke data cited by CNBC shows JPMorgan beats 82% of the time but fell after four of its last five reports. Guidance on net interest income, expenses and credit tends to matter more.

Loomi.Ai provides educational market research, not financial advice. Nothing here is a recommendation to buy or sell any security. Trading stocks, futures and options involves substantial risk of loss. Estimates and schedules cited were current at publication and can change.

Sources

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