TLDR
- Truist reported Q2 EPS of $1.23, beating the $1.08 estimate, with revenue of $5.31 billion
- Investment banking and trading income jumped nearly 72% year over year
- Wealth management income rose 7.8% in Q2
- TFC stock rose about 1.9% in premarket trading after the report
- Incoming CEO Michael Lyons takes over from Bill Rogers on September 1
Truist Financial beat Wall Street expectations on Friday, posting second-quarter earnings of $1.23 per share against a forecast of $1.08. Total revenue on a tax-equivalent basis came in at $5.31 billion, up more than 5% year over year.
🚨 $TFC (Truist Financial) 2Q 2026 Earnings
Strong results — EPS up 37% YoY…
revenue growth + capital returns shining 👀________________________________________
📊 KEY METRICS (2Q26)
🔹 Net Income (to common): $1.5B 🟢
🔹 EPS: $1.23 (+37% YoY) 🟢
🔹 Total…— Emmanuel – Big Tech & AI Investor (@EmmanuelInvest) July 17, 2026
The stock was up around 1.9% in premarket trading following the results. TFC has gained about 8% so far in 2026.
Truist Financial Corporation, TFC
Investment banking and trading income led the charge, climbing nearly 72% compared to the same period last year. That’s a big number, and it reflects a broader industry trend — dealmaking has roared back, and volatile markets have kept trading desks busy.
Wealth management income rose 7.8% in the quarter. Non-interest income surged 17% to $1.64 billion overall. Net interest income grew 1% year over year to $3.67 billion on a tax-equivalent basis.
Net income available to common shareholders came in at $1.52 billion, up from $1.18 billion in the same quarter last year.
Leadership Change Takes Center Stage
As strong as the numbers are, investors are keeping one eye on the bigger story: who’s running Truist next.
Michael Lyons, former CEO of Fiserv and a PNC veteran, will replace current CEO Bill Rogers on September 1. Since that announcement in June, TFC has rallied about 9%.
Lyons won’t be on Friday’s earnings call — he doesn’t officially start until September 1. That makes for an unusual situation where Rogers leads the discussion while investors are already thinking about what comes next.
Wells Fargo analyst Mike Mayo rates Truist Equal Weight with a $55 price target, just above where the stock is currently trading. He sees Lyons as a good fit, saying the new CEO can bring “disciplined execution and improved intensity” similar to his time at PNC. Mayo sees potential focus areas including retail banking, payments, and wholesale banking.
Not everyone is bullish. Jefferies analyst David Chiaverini has an Underperform rating on TFC, citing execution risk.
Guidance and Valuation
Truist guided for full-year revenue growth of 3.5% to 4%, with non-interest expenses growing 1.75%. The company also said it expects to spend around $5 billion on share repurchases.
TFC trades at about 11 times forward earnings, roughly in line with the regional banking sector. Its annual dividend yield of 3.9% is the highest among large U.S. regional banks.
The State Street SPDR S&P Regional Banking ETF has returned about 22% in 2026, outpacing Truist’s 12% return this year.
CEO Bill Rogers summed up the quarter: “We continued to deepen client relationships, grow in attractive markets, and improve operating efficiency and profitability.”
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Be the first to comment