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Barclays PLC (DE:BCY)
XETRA:BCY
Earnings Data
Report Date
Apr 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.17Last Year’s EPS
0.15Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call was constructive and growth-focused. Management reported they met all 2025 targets, delivered meaningful top-line and NII growth, increased shareholder distributions, and outlined a credible three-year plan to 2028 with continued investment in cloud, data and AI to drive efficiency and client engagement. Near-term challenges include an elevated absolute cost base (some one-offs and integration costs), temporary impairment pressure in the U.S. Consumer Bank following acquisitions, mortgage product-margin headwinds in H1 2026, and regulatory RWA inflation/uncertainty. On balance, the operational momentum, upgraded 2026 income guidance, continued capital generation and concrete efficiency plans outweigh the near-term lowlights.Company Guidance
Achievement of 2025 Targets and Upgraded Guidance
Barclays achieved all 2025 financial targets. Return on tangible equity (RoTE) rose to 11.3% (from 10.5% a year earlier). Group income rose 9% YoY to GBP 29.1bn and management upgraded 2026 group income guidance to circa GBP 31bn (from circa GBP 30bn). Profit before tax increased 13% to GBP 9.1bn and EPS rose 22% to 43.8p.
Net Interest Income Momentum and Structural Hedge
Group NII increased 13% YoY to GBP 12.8bn (fourth consecutive year of NII growth). Structural hedge income rose by GBP 1.2bn to GBP 5.9bn, accounting for c.46% of group NII (ex-IB and head office). Hedge duration increased to c.3.5 years and the bank has locked in c. GBP 6.4bn gross hedge income for 2026 and GBP 17bn over the next 3 years, supporting predictable NII growth.
Top-line and Stable Income Streams
Stable income streams grew 9%, supported by 8% growth in retail and corporate businesses and 17% growth in financing within markets. Intermediation revenues increased 13% YoY and markets income has grown for seven consecutive quarters.
Efficiency Delivery and Cost Savings
Delivered GBP 700m gross efficiency savings in 2025 (above the GBP 500m target) and GBP 1.7bn cumulatively toward the GBP 2bn 2026 target. Group cost/income ratio improved to 61% and management targets low-50s by 2028 underpinned by a further c. GBP 2bn of gross efficiency savings to 2028.
Capital Position and Shareholder Returns
CET1 capital finished the year at the top end of the 13%-14% range (reported CET1 14.3% at quarter end). The bank announced GBP 3.7bn of 2025 shareholder distributions (up from GBP 3.0bn in 2024) including GBP 1.2bn of dividends and GBP 2.5bn of buybacks (GBP 1bn tranche announced). Management plans greater than GBP 15bn of distributions over 2026–2028, maintaining a clear capital hierarchy.
Improved Division-Level Returns
All divisions delivered double-digit RoTE in 2025. Investment Bank RoTE rose to 10.6% (up 2.1pp), U.S. Consumer Bank RoTE increased to 11% (up 1.9pp), and Barclays UK RoTE was 20.7% for the year (Q4 RoTE 23.8%).
UK Lending Momentum and RWA Deployment
Deployed GBP 20bn of the targeted GBP 30bn RWA growth for the UK by end-2026 (including GBP 7bn in 2025). Barclays UK saw six consecutive quarters of mortgage growth, Q4 net lending GBP 3.1bn, and issued 1.4m new credit card customers in 2025 (up from 1.1m in 2024).
Investment Bank Product and Financing Strength
Investment Bank income grew 7% in 2025 with financing income up 20% YoY and prime balances up 30% YoY. FICC and equities markets income grew 14% and 21% YoY respectively, and financing and international corporate banking now account for a larger proportion of IB income.
U.S. Consumer Bank Operational Progress
U.S. Consumer Bank net receivables grew 10% YoY and 5% QoQ; retail deposits grew 20% YoY; NIM improved to 11.6% in Q4. Management expects NIM to approach c.14% in H2 2026 after AA portfolio sale, supporting a c.12% RoTE for 2026 (pre-AA gain).
Technology and AI Adoption
89% of applications now on cloud (up from 75% two years ago). More than 250 AI tools/models in use; GitLab rollout (19,000 developers) enabled 15% faster code implementation; Microsoft Copilot usage reportedly saved over 1 million hours in 2025. Client-facing AI examples include an FX chatbot delivering quotes 75% faster and a conversational AI in the US app that accelerates responses by 95%.
Balance Sheet Liquidity and TNAV Progress
Strong liquidity and funding metrics: LDR 73%, NSFR 135%, LCR 170%. TNAV per share rose 52p YoY to 409p with expected further upside from cash flow hedge unwind (c. +9p by end-2026).
DE:BCY 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
DE:BCY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | €5.54 | €5.40 | -2.49% |
Oct 22, 2025 | €4.17 | €4.35 | +4.39% |
Jul 29, 2025 | €4.09 | €4.21 | +2.98% |
Apr 30, 2025 | €3.44 | €3.45 | +0.17% |
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 Barclays PLC (DE:BCY) report earnings?
Barclays PLC (DE:BCY) is schdueled to report earning on Apr 28, 2026, Before Open (Confirmed).
What is Barclays PLC (DE:BCY) earnings time?
Barclays PLC (DE:BCY) earnings time is at Apr 28, 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 the P/E ratio of Barclays PLC stock?
The P/E ratio of Barclays is N/A.
What is DE:BCY EPS forecast?
DE:BCY EPS forecast for the fiscal quarter 2026 (Q1) is 0.17.