01—Abstract
Summary
Summary of the 8-K filed October 20, 2026. Cited figures are marked; the original filing is the authoritative source.
Capital One Financial Corporation (COF) reported its third-quarter 2026 financial results, demonstrating a solid increase in net income and earnings per share compared to both the previous quarter and the prior year's third quarter.
The company posted a net income of $3.5 billiona, or $5.61 per diluted share, a notable improvement driven by increased total net revenue and a decrease in total non-interest expense. Key factors contributing to the positive performance include a robust increase in net interest income and a more favorable provision for credit losses. The integration of Discover continues to progress well, with management highlighting ongoing synergy delivery.
The company also reported growth in its loan portfolio, particularly in Consumer Banking (Auto and Retail) and Commercial Banking segments, alongside a slight decrease in total deposits. Capital One maintained a strong capital position, with its Common Equity Tier 1 capital ratio at a healthy 13.8%b. The company also returned capital to shareholders through dividends.
02—Key points
Key Highlights
- Net income for Q3 2026 was $3.5 billion, an increase from $3.0 billion in Q2 2026 and $3.2 billion in Q3 2025.
- Diluted earnings per share (EPS) for Q3 2026 were $5.61, up from $4.73 in Q2 2026 and $4.83 in Q3 2025.
- Total net revenue increased by 3% sequentially to $16.3 billion.
- Total non-interest expense decreased by 2% to $8.9 billion, driven by lower marketing and operating expenses.
- The provision for credit losses decreased by $73 million to $2.9 billion.
- Loans held for investment increased by $5.4 billion, or 1%, to $462.5 billion.
- The Common Equity Tier 1 capital ratio remained strong at 13.8%.
03—Questions
Frequently Asked Questions
What was Capital One's net income and EPS for the third quarter of 2026?
Capital One reported a net income of $3.5 billion, or $5.61 per diluted common share, for the third quarter of 2026. This compares to $3.0 billion, or $4.73 per diluted share, in the second quarter of 2026 and $3.2 billion, or $4.83 per diluted share, in the third quarter of 2025.
How did the company's revenue and expenses perform in Q3 2026?
Total net revenue for the third quarter of 2026 increased by 3% to $16.3 billion, while total non-interest expense decreased by 2% to $8.9 billion. This expense reduction was partly due to a 4% decrease in marketing expenses and a 2% decrease in operating expenses.
What is the status of the Discover integration?
Capital One's CEO, Richard D. Fairbank, stated that the Discover integration is continuing to go well, and the company is making good progress on delivering the expected synergies.
How did the loan portfolio perform during the quarter?
Period-end loans held for investment increased by $5.4 billion, or 1%, to $462.5 billion. Growth was observed across Credit Card (less than 1%), Consumer Banking (4%), and Commercial Banking (1%) segments.
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