The earnings call reflected a strong performance in the second quarter with significant achievements in income growth, capital management, and customer expansion. However, there are concerns related to economic uncertainty, fee income guidance, and the sustainability of loan growth.

Company Guidance

During PNC's 2025 second-quarter earnings call, the company provided updated guidance reflecting a positive outlook for the remainder of the year. PNC anticipates full-year 2025 average loan growth of approximately 1%, revising its previous guidance of stable growth. The company also expects net interest income to increase by about 7%, up from the prior guidance of 6% to 7%, driven by a favorable asset repricing environment and strong loan production. Non-interest income is projected to rise by 4% to 5%, slightly down from the initial expectation of a 5% increase, due to heightened economic uncertainty. Overall, PNC aims for a total revenue growth of around 6% for the year, maintaining a disciplined approach to managing non-interest expenses, which are expected to rise by approximately 1%. The effective tax rate is projected to be around 19%. For the third quarter of 2025, PNC forecasts average loans to increase by 1%, with net interest income and fee income both expected to grow by approximately 3% to 4%. Additionally, the company anticipates total revenue growth of 2% to 3% quarter-over-quarter and an increase in non-interest expenses by 2%. Expected net charge-offs for the third quarter are estimated to range between $275 million and $300 million.

Strong Second Quarter Performance

PNC reported net income of $1.6 billion or $3.85 per diluted share with a 4% increase in revenue and 10% PPNR growth. The company also achieved a 2% loan growth, driven by strong commercial loan growth.

Capital Management and Shareholder Returns

PNC maintained a regulatory minimum stress capital buffer of 2.5% and increased its common dividend by 6%. The company returned approximately $1 billion of capital to shareholders, which included $640 million in common dividends and $335 million of share repurchases.

Investment in Expansion and Customer Growth

PNC continued its national growth strategy, with significant expansion in consumer checking accounts growing by 2% year over year, including 6% growth in the Southwest. The company is on track with its $1.5 billion branch investment plan.

Positive Asset Management and Credit Trends

The asset management business showed positive net flows and a 16% increase in new client acquisition. Credit quality remained strong with improvements in non-performing loans, delinquencies, and charge-offs.

Optimistic Economic and Revenue Outlook

For the full year 2025, PNC expects average loans to be up approximately 1%, with full-year net interest income to increase approximately 7%. The company anticipates continued economic growth with real GDP growth of approximately 1.5%.

PNC Financial (PNC) Earnings, Revenues Date & History

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PNC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 15, 2025	2025 (Q3)	4.00 / -	3.49	―	―	―
Jul 17, 2025	2025 (Q2)	3.55 / 3.85	3.39	13.57% (+0.46)
Apr 15, 2025	2025 (Q1)	3.38 / 3.51	3.1	13.23% (+0.41)
Jan 16, 2025	2024 (Q4)	3.33 / 3.77	1.85	103.78% (+1.92)
Oct 15, 2024	2024 (Q3)	3.30 / 3.49	3.6	-3.06% (-0.11)
Jul 16, 2024	2024 (Q2)	2.99 / 3.39	3.36	0.89% (+0.03)
Apr 16, 2024	2024 (Q1)	3.01 / 3.10	3.98	-22.11% (-0.88)
Jan 16, 2024	2023 (Q4)	2.12 / 1.85	3.47	-46.69% (-1.62)
Oct 13, 2023	2023 (Q3)	3.10 / 3.60	3.78	-4.76% (-0.18)
Jul 18, 2023	2023 (Q2)	3.31 / 3.36	3.39	-0.88% (-0.03)

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

PNC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 17, 2025	$193.93	$195.99	+1.06%
Apr 15, 2025	$152.40	$152.46	+0.04%
Jan 16, 2025	$196.67	$192.84	-1.95%
Oct 15, 2024	$181.93	$185.62	+2.03%

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.