Barclays PLC · BCS · FY2024 Q3 · Calendar Q4 2024

Barclays: Raised UK NII outlook, strong capital, Tesco integration ahead

The quarter supports a constructive but qualified view: raised UK net interest income guidance, cost execution, capital strength and the Tesco Bank opportunity provide support, while rate sensitivity, credit risk and integration execution test the durability of earnings growth.

Reported Before market openNYSEFinancial Services $72.96B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.56 Consensus $0.43
EPS surprise +30.2% Reported versus consensus
Reported revenue $8.58B Consensus $8.41B
Revenue surprise +2.1% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +5.7% Event window
SPY move +0.2% Same window
Abnormal move +5.5% Stock minus SPY
Volume 1.2× Versus trailing sessions
Subsequent drift +1.1% Up to 20 sessions
BCSSPY benchmark

Ask FN2 about BCS FY2024 Q3

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Why did BCS rise 5.7% after beating EPS estimates in FY2024 Q3?What changed in BCS's guidance and outlook in FY2024 Q3?Give me the bull and bear case for BCS after FY2024 Q3 earnings.

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Transcript intelligence

What changed

Compared with the prior-quarter analysis, Barclays reported stronger profitability metrics, raised UK net interest income guidance to approximately £6.5 billion, increased locked structural-hedge income to £12.4 billion over the next three years, and moved the Tesco Bank transaction toward completion.

Guidance delta

Management guidance was raised, including UK net interest income to approximately £6.5 billion. The Tesco Bank acquisition was scheduled to complete on 1 November 2024.

Key takeaways

  • Profitability metrics were above targets, with total income up 5% year over year and CET1 at 13.8%.
  • Cost savings of £300 million in the quarter kept the £1 billion full-year efficiency target on track.
  • The structural hedge supports net interest income, while Tesco Bank expands unsecured-lending and deposit-distribution opportunities.

Management priorities

  • Integrate Tesco Bank and use its distribution channels for unsecured lending.
  • Continue the cost-saving programme toward the £1 billion full-year efficiency target.
  • Invest in digital platforms, card acquisition and tiered savings products while maintaining capital returns.

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Earnings History

Estimate Beat Miss Match
BCS EPS earnings history estimate and actual scatter chart 11 reported fiscal quarters and 4 future estimate-only quarters. Q3 '24 estimate $0.43 Q3 '24 actual $0.56, beat Q1 '25 estimate $0.56 Q1 '25 actual $0.70, beat Q2 '25 estimate $0.50 Q2 '25 actual $0.62, beat Q3 '25 estimate $0.54 Q3 '25 actual $0.56, beat Q4 '25 estimate $0.42 Q4 '25 actual $0.46, beat Q1 '26 estimate $0.75 Q1 '26 actual $0.76, match Q2 '26 estimate $0.89 Q2 '26 actual $0.90, match Q3 '26 estimate $0.67 Q3 '26 actual $0.66, match Q4 '26 estimate $0.47 Q1 '27 estimate $1.04 Q2 '27 estimate $1.03 Q3 '27 estimate $0.93
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Analyst Consensus ?

ConsensusBuy25 ratings
Bullish1768.0%
Neutral728.0%
Bearish14.0%

Analyst 52W Price Targets

$21.74Current
$33Low
$33Average
$33High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Exane BNP Paribas Neutral OutperformDowngradeApr 14, 2026
Erste Group Hold BuyDowngradeMar 5, 2026
Citigroup Neutral BuyDowngradeJul 18, 2025
B of A Securities Underperform NeutralDowngradeOct 26, 2023
Morgan Stanley Overweight Equal WeightUpgradeSep 26, 2023
Show 20 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $21.74. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BarclaysTheresa Chen$33$22.95 +51.8%Oct 9, 2026

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Company context

Snapshot as of publication

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK; Barclays UK Corporate Bank; Barclays Private Bank and Wealth Management; Barclays Investment Bank; and Barclays US Consumer Bank segments. It offers financial services, such as current accounts, savings accounts, mortgages and unsecured lending, such as credit cards and loans retail banking, wholesale banking, investment banking, wealth management, and investment management services, as well as lending products. In addition, the company engages in securities dealing activities and issuing of credit cards. The company was formerly known as Barclays Bank public limited company and changed its name to Barclays PLC in January 1985. Barclays PLC was founded in 1690 and is headquartered in London, the United Kingdom.

Historical context

All BCS earnings
-2.6%FY2026 Q3 · Calendar Q4 2026-5.5%FY2026 Q2 · Calendar Q3 2026-0.4%FY2026 Q1 · Calendar Q2 2026

Financial Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
FCNCA First Citizens BancShares, Inc. FY2026 Q3 · Calendar Q4 2026 +19.9% +8.2% First Citizens posts strong Q3, raises Q4 outlook as loans and deposits grow
FCNCN First Citizens BancShares, Inc. Depositary Shares, each representing a 1/40th interest in a share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E FY2026 Q3 · Calendar Q4 2026 +19.9% +0.2% First Citizens raises 2026 outlook after strong Q3 growth
FCNCO First Citizens BancShares, Inc. FY2026 Q3 · Calendar Q4 2026 +19.9% +1.0% First Citizens raises guidance after strong Q3 loan and deposit growth
FCNCP First Citizens BancShares, Inc. FY2026 Q3 · Calendar Q4 2026 +19.9% +1.0% First Citizens reports strong Q3 and raises 2026 guidance
AXP American Express Company FY2026 Q3 · Calendar Q4 2026 +4.0% -3.7% American Express raises EPS outlook as premium growth and AI expand
BBD Banco Bradesco S.A. FY2026 Q3 · Calendar Q4 2026 -7.7% +3.0% Bradesco: Loan growth and capital strength offset credit risks

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
  3. Polygon adjusted daily market bars · 2026-10-24T09:20:42.469663+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T09:20:42.466897+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.