Transcript: PNC Financial Services Gr Q2 2026 Earnings Conference Call

PNC Financial Services Gr (NYSE: PNC ) held its second-quarter earnings conference call on Wednesday.

Below is the complete transcript from the call.

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View the webcast at Summary PNC Financial Services Group Inc reported strong financial performance with $2.1 billion in net income, equating to $4.81 per diluted share.

Adjusted EPS, accounting for integration costs, was $4.85.

The company experienced strong business momentum, driven by new client acquisitions and growth in net interest income from commercial loans and favorable deposit mix.

Fee income saw a significant increase of 10% quarter-over-quarter and 20% year-over-year.

PNC's credit performance remained solid, with strong results in the Fed's stress tests.

The board approved an 18% increase in the quarterly common stock dividend to $2 per share.

Strategic initiatives included the successful integration of First Bank, expansion into new markets with new branches, and the launch of a new mobile banking platform.

Future outlook includes expectations of continued loan and net interest income growth, stable deposit balances, and a CET1 ratio target around 10%.

Full-year revenue growth is projected at 13%, with a focus on maintaining expense management.

Management highlighted the strength and broad-based nature of loan growth and capital market revenues while noting the sector's resilience and ability to adapt to economic conditions.

Full Transcript OPERATOR Greetings and welcome to the PNC Financial Services Group Earnings Conference Call.

At this time, all participants are on a listen-only mode.

A question and answer session will follow the formal presentation.

If you would like to ask a question during that time, please press star one on your telephone keypad.

If you would like to withdraw your question, please press star two on your telephone keypad.

If anyone should require operator assistance during the conference, please press star zero on your telephone keypad.

As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Brian Gill.

Thank you, Brian.

You may now begin.

Brian Gill, Director of Investor Relations Well, good morning and welcome to today's conference call for the PNC Financial Services Group.

I am Brian Gill, the Director of Investor Relations for PNC, and participating on this call are PNC's Chairman and CEO Bill Demchak and Rob Reilly, Executive Vice President and CFO.

Today's presentation contains forward-looking information.

Cautionary statements about this information as well as reconciliations of non-GAAP measures are included in today's earnings release materials as well as our SEC filings and other investor materials.

These are all available on our corporate website, pnc.com, under Investor Relations.

These statements speak only as of July 15, 2026, and PNC undertakes no obligation to update them.

Now I'd like to turn the call over to Bill.

William Demchak, Chairman Of The Board Thank you, Brian, and good morning everyone.

As you saw, PNC delivered an impressive second quarter.

We generated $2.1 billion of net income or $4.81 per diluted share.

Our results included first bank integration costs and other significant items.

Collectively, these items reduced earnings per share by $0.04, resulting in an adjusted diluted EPS of $4.85.