Toronto Dominion Bank (TSE:TD)
NYSE:TD
Earnings Data
Report Date
May 21, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.23Last Year’s EPS
1.97Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong operational and financial momentum with record earnings, double-digit revenue growth, improved ROE, meaningful progress on cost savings and multiple business-line records (Canadian P&C, Wealth & Insurance, Wholesale). Strategic initiatives—AI deployments, Nordstrom conversion, and share buybacks—support growth and capital returns. Key credit and expense-related headwinds were manageable: impaired PCLs rose (notably driven by a few specific borrowers, including one large wholesale borrower), restructuring and remediation costs continue, and CET1 modestly declined due to buybacks. On balance, the positive operational and financial momentum, clear cost-saving roadmap, capital return program and AI scaling materially outweigh the contained credit and expense challenges.Company Guidance
Record Earnings and EPS
Reported record net earnings of $4.2 billion and EPS of $2.44 for Q1 FY2026; ROE improved to 14.2% (up 100 basis points year-over-year).
Top-Line Growth
Revenue grew 11% year-over-year and total bank PTPP increased 19% year-over-year (adjusted for U.S. strategic card portfolio, FX and insurance service expenses).
Capital Management and Buybacks
Common Equity Tier 1 (CET1) ratio at 14.5%; completed $8 billion buyback and launched a new $7 billion buyback, with ~84 million shares repurchased across both programs and 19 million repurchased in Q1.
Positive Operating Leverage and Cost Savings Progress
Third consecutive quarter of positive operating leverage; expenses up 7% year-over-year but operating leverage delivered; concluded restructuring charges this quarter ($200 million pretax) completing a program of $886 million pretax with expected fully realized annual cost savings of $775 million pretax; bank targeting $2.0–$2.5 billion in annualized cost savings over the medium term.
Canadian Personal & Commercial Momentum
Canadian P&C: record revenue, PTPP, earnings, deposits and loan volumes; real estate secured lending up 5% year-over-year; average deposits up 3% YoY (personal +3%, business +5%); average loans up 5% YoY (personal +5%, business +6%).
U.S. Banking Growth and Margin Expansion
U.S. Banking earnings up 22% YoY and PTPP up 7% YoY; ROTCE expanded by 330 basis points to 14.7%; core loans up 2% YoY; net interest margin 3.38%, up 13 basis points quarter-over-quarter; mid-market lending balances up 4% YoY and commitments up 15% YoY.
Card and Wealth Momentum
U.S. proprietary credit card balances up 15% YoY with record digital acquisition; Canadian cards posted highest quarterly acquisition in a decade; U.S. wealth total client assets up 12% YoY and mass affluent client assets up 18% YoY; Wealth & Insurance delivered record earnings and assets.
Wholesale & Markets Performance
Wholesale Banking delivered record revenue and earnings driven by Global Markets and Corporate & Investment Banking; improved ROE to 12.6% with expense growth moderated to 5% YoY; TD Cowen and TD Securities received industry recognitions.
AI and Digital Deployments
Launched GenAI knowledge management across >1,000 Canadian branches and initial agentic AI for RESL pre-adjudication (reduced pre-adjudication from ~15 hours to minutes); targeting $1 billion in value from AI over the medium term and expect broader scaling benefits.
Wealth Product Traction
Direct investing: revenue share up 97 basis points YoY and trades per day up 10% YoY; ETF assets surpassed $31 billion (from $17 billion at end of FY2024), progressing toward medium-term target of $54 billion.
TSE:TD Earnings History
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
TSE:TD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | C$132.96 | C$135.14 | +1.64% |
Dec 04, 2025 | C$116.73 | C$119.10 | +2.03% |
Aug 28, 2025 | C$103.17 | C$98.51 | -4.51% |
May 23, 2025 | C$90.24 | C$90.34 | +0.11% |
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.
FAQ
When does Toronto Dominion Bank (TSE:TD) report earnings?
Toronto Dominion Bank (TSE:TD) is schdueled to report earning on May 21, 2026, Before Open (Confirmed).
What is Toronto Dominion Bank (TSE:TD) earnings time?
Toronto Dominion Bank (TSE:TD) earnings time is at May 21, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:TD EPS forecast?
TSE:TD EPS forecast for the fiscal quarter 2026 (Q2) is 2.23.
