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Keycorp (KEY)
NYSE:KEY
Earnings Data
Report Date
Apr 16, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.41Last Year’s EPS
0.33Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational momentum with record revenue, expanded NII/NIM, meaningful operating leverage, improving credit metrics, and a clear plan to return capital to shareholders (accelerated buybacks). Management provided constructive 2026 guidance while signaling conservative assumptions around investment banking fees and continued payouts of capital, and it highlighted several watch areas (consumer runoff, certain sector exposures, elevated one-time expenses and capital consumption for buybacks). Overall, positives materially outweigh the highlighted risks, though execution on deposit remixing, sustaining M&A fee momentum, and capital management will be important to monitor.Company Guidance
Quarterly and Full-Year Revenue Growth
Fourth-quarter revenue exceeded $2.0 billion, growing 12% year-over-year (adjusted). Full-year 2025 record revenue increased 16% versus prior year.
Earnings Per Share and Net Interest Income
Reported Q4 EPS was $0.43 ($0.41 adjusted). Tax-equivalent net interest income was up 15% year-over-year in Q4 and full-year NII increased ~23% versus original expectations.
Net Interest Margin Expansion
Exited the quarter with NIM of 2.82%, up 7 basis points sequentially and above the prior target range (2.75%–2.80%). Management expects NIM to reach ~3.00%–3.05% by end of 2026 and 3.25%+ in 2027.
Strong Operating Leverage and PPNR Growth
Full-year operating leverage of approximately 1,200 basis points and PPNR growth of about 44% in 2025, with expenses growing 4.6% for the year while revenue rose 16%.
Loan and Deposit Dynamics
Full-year C&I loan growth of 9%; spot commercial loans rose roughly $1.0–1.2 billion in Q4. Client deposits up 2% full-year; average deposits increased ~$300 million sequentially. Total deposit cost declined 16 basis points to 1.81%.
Capital Return to Shareholders
Repurchased $200 million of common stock in Q4 (average price $18/sh) — double prior commitment — and announced plans to repurchase at least $300 million in Q1 and at least $1.2 billion for full-year 2026.
Capital Ratios and Tangible Book Value
Marked CET1 ratio was 10.3% (flat sequentially); reported CET1 was 11.7% quarter-end. Tangible book value per share rose 3% sequentially and 18% year-over-year.
Improving Credit Metrics
Q4 net charge-offs of $104 million (annualized 39 bps), down 9% sequentially. Full-year net charge-offs were 41 bps, near the better end of guidance. Nonperforming assets declined 6% sequentially and the NPA ratio improved to 59 bps. Criticized loans fell ~$500 million (8%) sequentially.
Fee Revenue Momentum and Wealth Management Growth
Full-year fee income grew 7.5%. Q4 adjusted non-interest income increased 8% YoY. Investment banking & debt placement fees were $243 million (up 10% YoY). Wealth AUM set a record at $70 billion; mass affluent segment produced a third consecutive year of record sales and since 2023 added 54,000 households and nearly $4 billion of AUM.
Commercial Payments and Capital Markets Performance
Commercial payments fee-equivalent revenue grew ~11% in 2025. The firm raised nearly $140 billion of capital for clients in 2025, retaining ~20% on the balance sheet, and reports historically elevated pipelines in investment banking.
2026 Financial Guidance Reflects Continued Growth
Management guided to ~7% revenue growth in 2026, NII growth of 8%–10%, non-interest income growth ~3%–4% (5%–6% adjusted), expenses up 3%–4% (implying 300–400 bps operating leverage), average loans +1%–2% with commercial loans +~5%, and NCO ratio stable at 40–45 bps.
KEY 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
KEY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 20, 2026 | $21.17 | $21.09 | -0.38% |
Oct 16, 2025 | $17.53 | $16.59 | -5.36% |
Jul 22, 2025 | $17.89 | $18.31 | +2.35% |
Apr 17, 2025 | $13.59 | $13.78 | +1.42% |
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 Keycorp (KEY) report earnings?
Keycorp (KEY) is schdueled to report earning on Apr 16, 2026, Before Open (Confirmed).
What is Keycorp (KEY) earnings time?
Keycorp (KEY) earnings time is at Apr 16, 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 KEY EPS forecast?
KEY EPS forecast for the fiscal quarter 2026 (Q1) is 0.41.
