KeyCorp · KEY-PJ · FY2026 Q2 · Calendar Q3 2026
KeyCorp raises guidance as commercial lending and fee businesses advance
KeyCorp’s Q2 results support a constructive operating trajectory: commercial lending, wealth, payments, and advisory activity advanced, while management raised full-year guidance. The thesis remains sensitive to deposit pricing, loan spreads, and credit quality.
Earnings scorecard
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Transcript intelligence
What changed
Compared with the prior quarter, KeyCorp reported stronger commercial-loan momentum, a 2.89% net interest margin, raised full-year guidance, and a planned Clearwater UK acquisition. Wealth AUM reached $74 billion, and management cited $9 billion of low-yield fixed-rate asset repricing in the second half of 2026.
Guidance delta
Management raised full-year revenue growth guidance to 7–8% and net interest income growth guidance to 9–11%.
Key takeaways
- Q2 EPS was $0.44, up 26% year over year, with revenue up 7%.
- Commercial loans grew 3% sequentially, while net interest margin reached 2.89%.
- KeyCorp announced the Clearwater UK acquisition and reported $340 million of Q2 share repurchases.
Management priorities
- Close the Clearwater UK acquisition in the second half of 2026.
- Invest roughly $1 billion in technology and operations during 2026.
- Expand mass-affluent wealth and commercial-payments capabilities while pursuing the $1.3 billion annual repurchase target.
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Try FN2 freeCompany context
Snapshot as of publicationKeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.…
Historical context
All KEY-PJ earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| KEY-PK KeyCorp | FY2026 Q3 · Calendar Q4 2026 | — | — | KeyCorp Q3 2026: Record Revenue, Higher Growth Guidance |
| KEY-PL KeyCorp | FY2026 Q3 · Calendar Q4 2026 | — | — | KeyCorp reports strong Q3 execution as deposits and utilization rise |
| KEY-PI KeyCorp | FY2026 Q3 · Calendar Q4 2026 | — | — | KeyCorp posts record Q3 as deposits and commercial loans accelerate |
| KEY KeyCorp | FY2026 Q3 · Calendar Q4 2026 | — | +3.7% | KeyCorp Q3: Deposit growth and utilization lift earnings |
| ALLY Ally Financial Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +0.9% | Ally pairs strong auto demand with a closer credit watch |
| SYF-PA Synchrony Financial | FY2026 Q3 · Calendar Q4 2026 | — | — | Synchrony reaffirms $9.50 EPS outlook as digital and AI initiatives expand |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-07-21T19:03:11.631280+00:00
- FN2 earnings calendar · 2026-08-26T01:23:15.088209+00:00
- Polygon adjusted daily market bars
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.
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 2026-10-20. For educational purposes only; not investment advice.