Four of the largest U.S. financial institutions, JPMorgan Chase, Goldman Sachs, Wells Fargo, and Citigroup, are scheduled to report their third-quarter financial results on Tuesday, October 13, 2026. The earnings releases, expected before the market opens, arrive as investors and analysts assess the impact of rising interest rates and evolving activity in capital markets.
The reports will provide insight into the performance of Wall Street during a period marked by high borrowing costs and uncertainty in the market for initial public offerings (IPOs). Bank of America and Morgan Stanley are scheduled to release their respective earnings reports on Wednesday.
Analyst expectations, compiled by LSEG, provide benchmarks for the upcoming announcements. For JPMorgan Chase, analysts forecast earnings per share of $5.90 on revenue of $51.22 billion. Goldman Sachs is expected to report earnings of $13.02 per share on $16.71 billion in revenue. Projections for Wells Fargo are $1.85 per share on $22.3 billion in revenue, while Citigroup is expected to report earnings of $2.66 per share on revenue of $23.72 billion.
Further detailed estimates from StreetAccount project segment-specific revenues. For JPMorgan, analysts anticipate $3.02 billion in investment banking fees and combined trading revenue of $10.38 billion from fixed income and equities. Goldman Sachs is expected to post $2.84 billion in investment banking fees. For Citigroup, StreetAccount consensus metrics estimate $1.29 billion in investment banking fees and $2.62 billion in provisions for credit losses.
The third quarter saw a decrease in global investment banking revenue, which fell 6.6% from the same period a year earlier to $27.2 billion, according to data from Dealogic. The decline was attributed to a reduction in closed mergers and debt issuance.
Statements from banking executives in September offered differing outlooks for the quarter. Bank of America CEO Brian Moynihan stated that third-quarter investment banking fees were projected for a decline of more than 10%. In contrast, Citigroup CFO Gonzalo Luchetti told analysts that investment banking was tracking for “low-single-digit” revenue growth. During the same period, JPMorgan co-president Doug Petno said both investment banking and trading revenue were projected for a percentage increase in the “mid- to high-teens.”
The rise in bond yields during the quarter is another key area of focus. The 10-year Treasury yield, a benchmark for borrowing costs across the economy, rose to approximately 5.3% by the end of September. The S&P 500 Banks Index fell 5.4% during the third quarter.
In company-specific developments, Goldman Sachs’ upcoming earnings call will be the first opportunity for analysts to ask executives about reports concerning succession planning. A company spokesperson, Tony Fratto, has previously stated there is “no definitive timeline for succession” at the bank.
Following the release of the earnings reports, executives from each bank will hold conference calls with analysts. JPMorgan Chase’s call is scheduled for 8:30 a.m. ET, followed by Goldman Sachs at 9:30 a.m. ET, Wells Fargo at 10 a.m. ET, and Citigroup at 11 a.m. ET.
