The strong EPS beat and revenue growth across most segments, combined with positive operating leverage and capital returns, reinforce the execution narrative. Watch for continued momentum in Services and Wealth, and monitor credit quality in USCC and All Other for signs of deterioration.
Price Chart
Executive Summary
Citigroup reported Q3 2026 net income of $5.2B ($2.85 EPS) on revenues of $23.8B, a 40% YoY increase in net income and 8% revenue growth, driven by strong performance in Services, Wealth, Markets, and Banking. EPS of $2.85 beat consensus of $2.29 by 24.7%, marking a significant earnings surprise. The company returned $4.1B to common shareholders and maintained a CET1 ratio of 12.8%.
Key Financial Metrics
Key Facts
- Q3 2026 net income of $5.2B, up 40% YoY from $3.8B
- Diluted EPS of $2.85, up 53% YoY from $1.86, beating consensus of $2.29 by 24.7%
- Total revenues of $23.8B, up 8% YoY from $22.1B
- Operating expenses down 2% YoY to $14.0B; efficiency ratio improved to 58.5% from 64.7%
- Returned $4.1B to common shareholders via buybacks and dividends; payout ratio of 85%
- CET1 capital ratio of 12.8%; SLR of 5.0%
- Services revenue up 15%, Wealth up 15%, Markets up 6%, Banking up 6%
- Net credit losses of $2.2B, flat YoY; total ACL of $22.4B
Financial Impact
EPS beat consensus by $0.56 (24.7%) on a $23.8B revenue base; net income up $1.5B YoY
Risk Factors
- Net credit losses in All Other (managed basis) up 46% YoY, driven by Mexico Consumer seasoning
- USCC net income down 8% YoY due to higher partner payment accruals and reserve builds
- Supplementary Leverage ratio declining to 5.0% from 5.5% YoY, approaching regulatory minimum
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-115323 |
| Document: c-ex99d1.htm | 0001104659-26-115323 |
| Document: c-20261013x8k.htm | 0001104659-26-115323 |
| Document: c-20261013xex99d3.htm | 0001104659-26-115323 |
| Document: 0001104659-26-115323-index-headers.html | 0001104659-26-115323 |
| Document: 0001104659-26-115323-index.html | 0001104659-26-115323 |
| Document: 0001104659-26-115323.txt | 0001104659-26-115323 |
| 8-K Data (Synthetic) | 0001104659-26-115323 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 3 | $120.65 | awaiting T+20 | — | $122.73 (+1.72%) |
Oct 22, 2026 4d ago | 8-K | $120.62 | awaiting T+20 | — | $122.73 (+1.75%) |
Oct 13, 2026 14d ago | 8-K | $124.53 | awaiting T+20 | — | $122.73 (−1.45%) |
Aug 31, 2026 8w ago | Court Ruling | $132.54 $129.48 | ▲ +2.31% | ▲ +2.42% | $122.73 (+7.40%) |
Aug 24, 2026 9w ago | Court Ruling | $133.25 $131.93 | ▼ −0.99% | ▼ −1.24% | $122.73 (−7.89%) |
Aug 20, 2026 9w ago | Court Ruling | $131.65 $135.05 | ▲ +2.58% | ▲ +1.57% | $122.73 (−6.78%) |
Aug 18, 2026 10w ago | Court Ruling | $132.89 $132.70 | ▼ −0.14% | ▲ +0.70% | $122.73 (−7.65%) |
Aug 5, 2026 11w ago | Court Ruling | $133.82 $138.14 | ▲ +3.23% | ▲ +2.63% | $122.73 (−8.29%) |
Aug 3, 2026 12w ago | 13F-HR | $133.57 $131.62 | ▼ −1.46% | ▼ −2.70% | $122.73 (−8.12%) |
Jul 30, 2026 12w ago | Court Ruling | $132.45 $132.90 | ▲ +0.34% | ▼ −2.65% | $122.73 (−7.34%) |
US Market Status
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