01—Abstract
Summary
Summary of the 8-K filed May 29, 2026. Cited figures are marked; the original filing is the authoritative source.
KeyCorp filed this Form 8-K under Item 7.01 (Regulation FD Disclosure) to report that on May 29, 2026 it posted an investor presentation for its Europe June 2026 investor meetings to its website.
The presentation is furnished as Exhibit 99.1, and the filing states that the information is not deemed "filed" for purposes of Section 18 of the Exchange Act. The filing itself contains no new financial results; the substance is in the attached presentation, which covers 1Q26 results and 2026 outlook. Per the presentation, 1Q26 diluted EPS from continuing operations was $0.44a, up 33% year over year, with revenue of $1,953 million and return on tangible common equity of 13.0%.
The company reiterates a 4Q27 target of a 3.25%+ net interest margin and 15%+ ROTCE, and a long-term ROTCE range of 16-19%. For 2026, it guides to revenue up about 7%, net interest income up 9-10% (raised from 8-10%), and average loans up 2-4% (raised from 1-2%). The Board authorized up to $3.0 billionb in share repurchases in May 2026, and management expects to repurchase at least $1.3 billion of shares in 2026, up from a prior $1.2 billion guide.
The presentation also highlights the balance sheet and credit profile: a marked CET1 ratio of 10.0%c and a 38 bps NCO ratio for 1Q26, against a 10-year average of 30 bps. It notes a pending agreement to acquire Clearwater Corporate Finance LLP (Clearwater UK), expected to close in the second half of 2026, subject to customary conditions.
02—Key points
Key Highlights
- Investor presentation for Europe June 2026 investor meetings furnished under Item 7.01 and posted to the Investor Relations website on May 29, 2026
- 1Q26 diluted EPS from continuing operations of $0.44, up 33% year over year; revenue of $1,953 million; ROTCE of 13.0%
- 2026 outlook raised: net interest income up 9-10% (previously 8-10%) and average loans up 2-4% (previously 1-2%)
- Targets of 3.25%+ net interest margin and 15%+ ROTCE by 4Q27, with 16-19% ROTCE over the long term
- Board authorized up to $3.0 billion of share repurchases in May 2026; expects to repurchase at least $1.3 billion in 2026
- Marked CET1 ratio of 10.0% and CET1 ratio of 11.4% at 1Q26; 1Q26 NCO ratio of 38 bps versus 10-year average of 30 bps
- Pending acquisition of Clearwater Corporate Finance LLP (Clearwater UK), expected to close in the second half of 2026
03—Questions
Frequently Asked Questions
Does this 8-K report new financial results?
No. The filing only furnishes an investor presentation under Item 7.01. The 1Q26 financials and 2026 outlook it contains are presentation content, and the filing states that this information is not deemed filed under Section 18 of the Exchange Act.
How did KeyCorp perform in 1Q26?
Per the presentation, diluted EPS from continuing operations was $0.44, up 33% year over year and up 7% from 4Q25. Revenue was $1,953 million, up 10% year over year, and return on tangible common equity was 13.0%.
What changed in KeyCorp's 2026 outlook?
The presentation raises the 2026 net interest income growth range to 9-10% from 8-10% and the average loan growth range to 2-4% from 1-2%. The net interest margin 4Q exit rate is now stated as about 3.05%, versus a previous 3.00-3.05%.
How much capital is KeyCorp returning to shareholders?
The Board authorized up to $3.0 billion of share repurchases in May 2026. Management expects to repurchase at least $1.3 billion of common shares in 2026, up from a previous guide of $1.2 billion. $389 million was repurchased in 1Q26.
What acquisition is pending?
KeyCorp has entered into a definitive agreement to acquire Clearwater Corporate Finance LLP (Clearwater UK). The transaction is expected to close in the second half of 2026, subject to customary closing conditions.
04—Continue