Morgan Stanley (MS) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 21, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

2.15

Last Year’s EPS

1.67

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 11 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 15, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized broad-based, record-setting revenue and profitability across Institutional Securities, Wealth Management and Markets, backed by strong capital metrics (CET1 15.1%, $15B capital accreted over nine quarters) and aggressive asset-gathering (NNA $118B, fee-based flows $54B). Management also highlighted strategic investments (EquityZen, digital asset pilot), strong Asia momentum and durable markets-led financing businesses. Offsetting items included an informational "learning moment" in private credit with some fund redemptions and declines in accrued carried interest, one-time severance charges of $178 million, rising RWAs and regulatory (Basel) and macro/geopolitical uncertainties. Overall, positives around top-line records, margins, capital strength and client engagement materially outweigh the manageable and mostly non-structural challenges discussed.

Company Guidance

The firm gave measured, constructive near‑term guidance anchored by several specific metrics: record Q1 revenues of $20.6B and EPS of $3.43, ROTCE 27.1%, an efficiency ratio of 65% (including $178M of severance), and a standardized CET1 ratio of 15.1% vs an 11.8% requirement (>300 bps buffer) after accreting $15B of capital over the last 9 quarters and opportunistically buying back $1.75B of common stock; Q1 tax rate was 19.6% with an expected 2026 tax rate of 22–23%; management expects net interest income to “build over the course of the year” with a modest uptick in Q2 (Q1 NII $2.2B). Business‑level guidance/benchmarks included Institutional Securities revenues $10.7B (investment banking $2.1B, advisory $978M, +74% YoY; equity revenues $5.1B; fixed income $3.4B), Wealth Management records (revenues $8.5B, PBT margin 30.4%, net new assets $118B, fee‑based flows $54B, bank lending balances $186B up $5B q/q, household lending penetration 18%, period‑end deposits $419B, adviser‑led assets ~$5.8T with >$1.2T sourced from Workplace/E*TRADE and >$400B of adviser‑led inflows since 2020), and Investment/Asset Management (Investment Management revenues $1.5B, long‑term net flows $3.3B, AUM $1.9T; asset management revenues noted at $5.1B); the firm closed the EquityZen acquisition, launched a digital‑asset pilot, and expects the proposed Basel changes to be capital‑neutral to modestly positive overall (G‑SIB bucket shown moving from ~3.5% to ~2.2% in the proposal).

Record Revenue and EPS

Firm reported record quarterly revenues of $20.6 billion and EPS (ex DVA) of $3.43. Return on tangible common equity (ROTCE) was very strong at ~27.1% and the efficiency ratio improved to 65%, demonstrating operating leverage and disciplined execution.

Institutional Securities and Investment Banking Strength

Institutional Securities delivered record revenues of $10.7 billion. Investment banking revenues rose to $2.1 billion with advisory revenues of $978 million, a 74% year-over-year increase, supported by broad-based client engagement and higher completed activity, especially in the Americas and technology/industrials sectors.

Equities and Fixed Income Records

Equities revenues set a record at $5.1 billion (first time above prior marks), including strong prime brokerage, cash and derivatives performance. Fixed income revenues were a post-crisis record at $3.4 billion, with securitized products, credit corporates and commodities showing meaningful gains.

Wealth Management Momentum and Asset Gathering

Wealth Management delivered record revenues of $8.5 billion and a PBT margin of 30.4%. Net new assets (NNA) were $118 billion and fee-based flows were a record $54 billion (excluding prior acquisitions). Bank lending balances grew $5 billion sequentially to $186 billion, household penetration of lending products rose to 18% (from 14% five years ago), total period-end deposits were $419 billion and net interest income was $2.2 billion.

Investment Management and AUM Growth

Investment Management revenues were solid at $1.5 billion, long-term net flows were $3.3 billion, and total AUM in the business stands at $1.9 trillion. Across wealth and investment management, total client assets exceed $9 trillion and management highlighted a path toward $10+ trillion of client assets.

Capital Position and Shareholder Actions

Standardized CET1 ratio was 15.1% versus a capital requirement of 11.8%, implying a capital buffer of over 300 basis points. The firm has accreted $15 billion of capital over the last nine quarters and opportunistically repurchased $1.75 billion of common stock during the quarter.

Strategic Investments and Product Innovation

Closed the acquisition of EquityZen, launched a digital asset pilot via Zero Hash to enable select clients to trade major digital currencies, and reported record sales in diversified alternatives driven by private equity and real assets, reinforcing product expansion and distribution innovation.

Asia and Global Franchise Momentum

Asia contributed disproportionately to sequential revenue improvement (management noted ~45% of the sequential uplift came from Asia despite the region being ~16% of firm revenues), with continued franchise investments and strengthened positioning across Japan, Korea, Taiwan, Hong Kong and India.

Morgan Stanley (CH:MS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CH:MS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 21, 2026	2026 (Q2)	2.15 / -	1.669	―	―	―
Apr 15, 2026	2026 (Q1)	2.37 / 2.69	2.037	31.92% (+0.65)	―
Jan 15, 2026	2025 (Q4)	1.90 / 2.10	1.739	20.72% (+0.36)
Oct 15, 2025	2025 (Q3)	1.65 / 2.19	1.473	48.94% (+0.72)
Jul 16, 2025	2025 (Q2)	1.55 / 1.67	1.426	17.03% (+0.24)
Apr 11, 2025	2025 (Q1)	1.73 / 2.04	1.583	28.71% (+0.45)
Jan 16, 2025	2024 (Q4)	1.33 / 1.74	0.666	161.18% (+1.07)
Oct 16, 2024	2024 (Q3)	1.25 / 1.47	1.081	36.23% (+0.39)
Jul 16, 2024	2024 (Q2)	1.30 / 1.43	0.972	46.77% (+0.45)
Apr 16, 2024	2024 (Q1)	1.31 / 1.58	1.332	18.82% (+0.25)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CH:MS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 15, 2026	CHF142.56	CHF148.56	+4.21%
Jan 15, 2026	CHF144.81	CHF151.11	+4.35%
Oct 15, 2025	CHF41.17	CHF41.17	0.00%
Jul 16, 2025	CHF40.38	CHF40.38	0.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.