PNC (PNC) Q2 2026 Earnings Call Transcript

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DATE

Wednesday, July 15, 2026 astatine 10:00 a.m. ET

CALL PARTICIPANTS

• Director of Investor Relations - Bryan K. Gill

• Chairman and Chief Executive Officer - Bill Demchak

• Executive Vice President and Chief Financial Officer - Robert Q. Reilly

Full Conference Call Transcript

Operator: Greetings and invited to the PNC Financial Services Group Earnings Conference Call. At this time, each participants are successful a perceive lone mode. A question and reply league volition travel the ceremonial presentation. As a reminder, this league is being recorded. It is present my pleasance to present your host, Bryan K. Gill, Thank you, Bryan. You whitethorn present begin.

Bryan K. Gill: Well, bully morning, and invited to today's league telephone for the PNC Financial Services Group. I americium Bryan K. Gill, the manager of capitalist relations for PNC, And participating connected this telephone are PNC's president and CEO, Bill Demchak, and Robert Q. Reilly, enforcement vice president and CFO. To's presumption contains guardant looking information. Cautionary statements astir this information, arsenic good arsenic reconciliations of non GAAP measures are included successful today's net merchandise materials arsenic good arsenic our SEC filings and different capitalist materials. These are each disposable connected our firm website, pandc.com nether Investor Relations. These statements talk lone arsenic of 07/15/2026, PNC undertakes nary work to update them.

Now I would similar to crook the telephone implicit to Bill.

William S. Demchak: Thank you, Bryan, and bully morning, everyone. As you saw, PNC delivered an awesome 2nd quarter. We generated $2.1 cardinal of nett income oregon $4.81 per diluted share. Our results included First Bank integration costs and different important items, Collectively, these items reduced net per stock by $0.04 resulting successful an adjusted diluted EPS of $4.85 Now Rob is going to instrumentality you done each those details connected our fiscal results successful a mates of minutes, but fto maine conscionable deed a fewer highlights. Business momentum remains truly strong. We proceed to triumph caller clients and deepen existing relationships. DDA maturation continues astatine a steadfast pace, portion lawsuit acquisition crossed our firm and backstage banking businesses continues to turn meaningfully.

Net involvement income grew connected the backmost of continued commercialized indebtedness maturation arsenic good arsenic favorable deposit premix and pricing. And interest income show was a peculiar item expanding 10% linked 4th and 20% twelvemonth implicit year. Growth has been wide based crossed each interest class underscoring the worth of our diversified concern model. Also generated affirmative operating leverage and improved our ratio ratio. Credit show remained strong, reflecting the spot of our system arsenic good arsenic the prime of our portfolio. The consistency of our fiscal spot was evident successful the Fed's latest accent trial results. For the 4th twelvemonth successful a row, PNC's commencement to trough superior depletion was the lowest successful our adjacent group.