PNC Financial, US Bancorp, First Horizon Beat Third-Quarter Earnings Estimates

11:26 AM EDT, 10/15/2026 (MT Newswires) -- PNC Financial Services (PNC), US Bancorp (USB), and First Horizon (FHN) reported Thursday third-quarter adjusted earnings per share ahead of Wall Street's estimates, even as net interest income fell short of analysts' expectations. PNC reported quarterly adjusted profit of $5.09 per share, outperforming FactSet polled consensus of $4.98. Net interest income swelled 15% from the prior-year period to $4.21 billion, falling short of the $4.25 billion analysts' estimate. "Our strategy continues to drive growth across our businesses, as we deepen our presence in key markets and expand our reach nationally," PNC Chief Executive Bill Demchak said in a statement. "During the third quarter, we continued to build on the strong momentum we delivered in the first half of the year, and we generated an 18.3% return on average tangible common equity. We are well positioned, and remain confident in our long-term outlook." The company raised its full-year 2026 net interest income guidance to a 10.5% increase on the 2025 baseline of $8.69 billion from a previous outlook for a 9% gain. PNC's shares were up 0.5% in Thursday trade and have gained 4.3% this year. US Bancorp logged adjusted EPS of $1.41 in the third quarter, improving from $1.22 a year earlier and topping consensus of $1.33. Net interest income rose 5.8% year-over-year to $4.47 billion, but missed the street's projection of $4.49 billion. "Our exceptional business mix and increasingly strong operating discipline helped us deliver high returns, productivity, and prudent risk management while strengthening revenue growth," US Bancorp CEO Gunjan Kedia said. The bank raised its full-year 2026 net revenue growth outlook to the range of 8% to 9% from 5% to 7% previously. US Bancorp stock was up 1.6% in recent trading and has risen 7.1% year to date. First Horizon posted adjusted EPS of $0.53, up from $0.51 in the prior-year period and higher than FactSet polled consensus of $0.52. Net interest income grew 1% year over year to $683 million. Analysts expected $687.9 million. "This quarter's results are a testament to our disciplined approach and clear strategic priorities," CEO Bryan Jordan said. "Average client deposit balances increased $1.3 billion in the quarter, and we continue to focus on growing and maintaining full client relationships and deploying capital where it best serves long-term value creation." First Horizon narrowed its full-year 2026 adjusted revenue growth target to the low end of its previously guided 3% to 7% range, citing lower second-half countercyclical revenue and interest rate timing. First Horizon's stock climbed 2.3% Thursday but is down 2.9% this year. Price: 217.74, Change: +1.94, Percent Change: +0.90