Toronto Dominion Bank (TD)
NYSE:TD
Earnings Data
Report Date
Aug 27, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
1.74Last Year’s EPS
1.57Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Positive. The bank reported strong, broad-based results (EPS +21%, ROE improvement, record segment performance, loan and deposit growth, and robust AI-driven cost-savings progress) and is tracking ahead on Investor Day targets. Notable challenges include ongoing AML remediation costs, elevated U.S. expense growth (partly remediation and conversion-related), a Q2 receivable adjustment in the strategic cards portfolio (USD 144m), and reserve builds tied to macro and geopolitical uncertainty. Management expects remediation costs to moderate and remains confident in hitting 2026 expense and PCL guidance, and in delivering further structural cost savings and AI value.Company Guidance
Strong Earnings and Profitability
EPS increased 21% year-over-year; return on equity (ROE) was 14.4%, up over 200 basis points year-over-year. Management expects to outperform its fiscal 2026 targets (6–8% EPS growth and 13% ROE) if current macro conditions persist.
Revenue Momentum Across Businesses
Robust top-line growth driven by markets-driven businesses, margin expansion and volume growth in Canadian Personal & Commercial Banking. Total bank pre-tax, pre-provision (PTPP) up 12% year-over-year (adjusted for impacts).
Record Segment Performance
Canadian Personal & Commercial Banking, Wealth Management & Insurance, and Wholesale Banking each delivered record Q2 results (revenue, PTPP or earnings) with Wholesale ROE up 360 bps year-over-year to ~14.5%.
Canadian Retail Loan & Deposit Growth
Canadian real estate secured lending volumes rose 5% year-over-year; average loans up 6% YoY (personal +5%, business +7%); average deposits up 3% YoY (personal +1%, business +5%).
U.S. Banking Momentum
Core business loans up 1.2% sequentially; core loans grew 3% YoY; middle market lending balances up 13% YoY; U.S. proprietary credit card balances up 18% YoY; new bank card account acquisition up 32% YoY. U.S. ROTCE expanded to 14.8%, up over 200 bps YoY.
Credit Performance within Guidance
Total provision for credit losses (PCLs) was 43 basis points (within the guided 40–50 bps range) and stable quarter-over-quarter. Gross impaired loan formations improved (22 bps, down 5 bps QoQ) and gross impaired loans decreased to 54 bps (down 4 bps QoQ). Allowance coverage at ~97 bps.
Positive Operating Leverage and Expense Discipline
Fourth consecutive quarter of positive operating leverage. Excluding variable compensation, FX and the U.S. strategic cards portfolio, enterprise expenses were up ~3% year-over-year and management remains on track for its 3–4% fiscal 2026 expense growth target.
Structural Cost Reductions and AI Progress
Tracking ahead on structural cost reduction targets ($2–2.5 billion medium-term). Targeted AI value of $200 million for the year is on pace, with ~ $145 million delivered at the halfway mark; broader medium-term AI value target of $1 billion remains on track. Examples include mortgage pre-adjudication cycle reduced from ~15 hours to 3 minutes and a 29% throughput gain for top AI-engaged engineers.
Capital Returns and Strong Capital Position
Common Equity Tier 1 (CET1) ratio 14.3% with strong organic capital accretion; repurchased ~19 million shares in Q2 and committed to completing the $7 billion buyback program (total shareholder capital return to $15 billion upon completion). Declared a $0.04/share dividend increase to $1.12.
Digital & Market Recognition
TD Direct Investing app redesigned (100 free trades) and continued ETF asset growth (assets more than doubled since fiscal 2024 end), with progress toward $54 billion medium-term ETF target. TD named most valuable brand in Canada and #1 on LinkedIn's top 25 best Canadian companies to work for.
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
TD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 28, 2026 | $112.20 | $113.34 | +1.02% |
Feb 26, 2026 | $96.42 | $98.00 | +1.65% |
Dec 04, 2025 | $83.02 | $84.70 | +2.03% |
Aug 28, 2025 | $74.22 | $71.01 | -4.32% |
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 (TD) report earnings?
Toronto Dominion Bank (TD) is schdueled to report earning on Aug 27, 2026, Before Open (Confirmed).
What is Toronto Dominion Bank (TD) earnings time?
Toronto Dominion Bank (TD) earnings time is at Aug 27, 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 TD EPS forecast?
TD EPS forecast for the fiscal quarter 2026 (Q3) is 1.74.
