Charles Schwab Corp (The) (SCHW) Earnings Date & Reports

Key Takeaways

• Charles Schwab is scheduled to report third-quarter 2026 results on October 15, 2026, before the market opens.
• Analysts expect adjusted earnings per share (EPS) of about $1.67, up roughly 28% from $1.31 a year earlier, on revenue of approximately $7.22 billion.
• The report follows a record second quarter, when revenue rose 21% to $7.07 billion and adjusted EPS climbed 42% to $1.62.
• Investors will focus on whether record daily average trades (DATs) of 11.9 million can persist, after management guided for some moderation.
• Net interest margin (NIM), lending growth, and client asset flows are likely to be the quarter's defining themes.

Earnings Context and Why It Matters

Charles Schwab enters its third-quarter 2026 report riding exceptional momentum. The brokerage and wealth-management giant posted record revenue and earnings in the second quarter, lifted by a surge in trading activity, strong asset gathering, and rising lending balances. That performance pushed the stock to an all-time high and led management to raise its full-year revenue-growth outlook to 17.5%–18.5%. Because Schwab's results are highly sensitive to equity-market conditions, interest rates, and investor engagement, this report offers a timely read on the health of retail investing and the broader wealth-management industry. The key question is whether the company's outsized trading and lending momentum can be sustained into the year's final stretch.

Earnings Expectations

Wall Street's consensus calls for Schwab to report adjusted EPS of $1.67 for the third quarter of 2026, based on 18 analyst estimates ranging from $1.63 to $1.73. That compares with $1.31 in the year-ago quarter. Revenue is expected to reach roughly $7.22 billion, up about 18% from $6.13 billion a year earlier, with analyst estimates clustered between $7.16 billion and $7.31 billion.

These projections come on the heels of a standout second quarter. Schwab delivered adjusted EPS of $1.62, beating the consensus estimate of about $1.54, on record revenue of $7.07 billion. Record DATs of 11.9 million, up 57% year over year, and $120 billion in core net new assets underpinned the results.

For the upcoming quarter, the most closely watched metrics include net interest revenue and NIM (the spread a bank or broker earns between interest income and funding costs), which management expects to expand toward 3.00%–3.10% for the full year. Investors will also track trading volumes, bank and margin lending balances, and asset-management fees. Notably, Schwab has signaled that daily trading activity is likely to moderate from its second-quarter record toward a full-year assumption of roughly 10.6 million trades.

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Market Reaction and Investor Sentiment

Sentiment heading into the third-quarter report is broadly positive. Schwab shares have gained roughly 6% over the past month and reached an all-time high of $109.05, supported by the strong second-quarter print, favorable market conditions, and a stable interest-rate environment since late 2025. The stock has outperformed both its brokerage peers and the broader S&P 500 over that stretch.

Still, the setup is not without risk. Much of the recent rally rests on elevated trading activity, which management itself expects to cool. A sharper-than-anticipated slowdown in trading volumes, pressure on net interest revenue from rate movements, or any sign that client cash is rotating out of interest-earning sweep accounts could weigh on the stock's reaction. Because Schwab consistently beats consensus EPS, investors have also priced in a relatively high bar, raising the threshold for another positive surprise.

Forward Outlook and Key Factors to Monitor

Beyond the headline numbers, investors should watch how Schwab frames the remainder of 2026. Management raised its full-year revenue-growth outlook to 17.5%–18.5% and now expects NIM to expand to roughly 3.00%–3.10%, with an exit rate of 3.25%–3.30% in the fourth quarter. Whether these targets are reaffirmed, trimmed, or lifted again will be a key signal.

Trading activity is the most visible swing factor. Record DATs of 11.9 million in the second quarter drove a 28% jump in trading revenue, but Schwab has guided for moderation toward about 10.6 million trades for the full year. Any guidance update here will matter, because trading revenue and related client engagement feed directly into earnings.

Lending and net interest income (NII), or the interest earned on loans and securities minus funding costs, are another focal point. Bank lending balances reached $67 billion and margin balances $165.1 billion at the end of June, both up sharply year over year. Continued lending growth would support revenue diversification, while softer loan demand or margin compression could temper that contribution.

Finally, watch expense growth, which management expects to rise 9.5%–10.5% for the year, and the pace of strategic investments in artificial intelligence and the crypto platform Schwab Crypto. Together, these factors will shape whether Schwab can convert its record momentum into durable operating leverage through year-end.

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