01—Abstract
Summary
Summary of the 8-K filed September 14, 2026. Cited figures are marked; the original filing is the authoritative source.
KeyCorp filed this Form 8-K to furnish the slides it will use at the Barclays Global Financial Services Conference on September 14, 2026, where management will review its performance, strategy, and outlook.
The information is furnished under Item 7.01 (Regulation FD) and is not deemed filed under Section 18 of the Exchange Act. A live audio webcast and a later recording are available at www.key.com/ir. The presentation, delivered by Chief Financial Officer Clark Khayat, updates full-year 2026 guidance against 2025 baselines on an operating basis.
Revenue is expected to be up about 8%a, previously up 7% to 8%. Net interest income is guided up 9% to 11%, and the fourth-quarter 2026 exit net interest margin is expected at 3.00% to 3.05%. Noninterest income is now guided up 4% to 5%, previously 3% to 4%, while adjusted noninterest income is up 6% to 7%, previously 5% to 6%.
Adjusted noninterest expense is guided up about 4%b, previously 3% to 4%. Credit and balance sheet guidance includes average loans up 4% to 5% and average commercial loans up 8% to 10%, with net charge-offs of 40 to 45 basis points of average loans.
The slides also list a GAAP tax rate of about 22%c and a tax-equivalent effective rate of about 23%. Selected items show no items in the first and second quarters of 2026, and small FDIC special assessment charges in the third and fourth quarters of 2025.
02—Key points
Key Highlights
- FY2026 revenue on an operating basis is guided up about 8%, versus a FY2025 baseline of $7,513 million, and is raised from the previous 7% to 8% range.
- Net interest income is guided up 9% to 11% from a FY2025 baseline of $4,671 million, and the 4Q26 exit net interest margin is expected at 3.00% to 3.05%.
- Noninterest income is raised to up 4% to 5% (previously 3% to 4%), and adjusted noninterest income to up 6% to 7% (previously 5% to 6%).
- Adjusted noninterest expense is guided up about 4%, against a FY2025 baseline of $4,729 million, up from the previous 3% to 4% range.
- Average loans are guided up 4% to 5% and average commercial loans up 8% to 10%; net charge-offs are projected at 40 to 45 basis points of average loans.
- The GAAP tax rate is expected at about 22%, with a tax-equivalent effective rate of about 23%.
- No selected items affected earnings in the first or second quarters of 2026; FDIC special assessments of $21 million pretax in Q4 2025 and $5 million pretax in Q3 2025 were recorded.
03—Questions
Frequently Asked Questions
What is KeyCorp presenting at the Barclays conference?
Management will review KeyCorp's performance, strategy, and outlook at the Barclays Global Financial Services Conference on September 14, 2026, using slides attached as Exhibit 99.1 and posted at www.key.com/ir.
How has full-year 2026 guidance changed?
The slides show raised guidance for revenue (about 8%, previously 7% to 8%), noninterest income (4% to 5%, previously 3% to 4%), adjusted noninterest income (6% to 7%, previously 5% to 6%), and adjusted noninterest expense (about 4%, previously 3% to 4%).
What loan growth and credit outlook does KeyCorp provide?
Average loans are expected to grow 4% to 5% and average commercial loans 8% to 10% versus 2025 baselines, with net charge-offs of 40 to 45 basis points of average loans.
Did any selected items affect recent earnings?
The slides report no selected items in the three and six months ended June 30, 2026, or in the first quarter of 2026. They show FDIC special assessment charges of $21 million pretax (after-tax $16 million, or $0.01 per share) in the fourth quarter of 2025 and $5 million pretax in the third quarter of 2025.
04—Continue