Bank of America (NYSE: BAC) reports third-quarter results on Wednesday, at about 11:45 UK time, before Wall Street opens. The bank runs consumer banking, wealth management, and corporate and investment banking and trading. Consensus earnings per share (EPS) are $1.11, against $1.06 a year ago and $1.21 in the second quarter. The question for the print is whether the strength of the last quarter carried over, with the shares about 16% below their August high.
When and what to expect
Bank of America said in a notice on the 30th of September that it will release results at about 6:45am New York time, with a call at 8:30am, or 1:30pm in the UK. The release lands in the London session, ahead of the US open.
Consensus EPS for the quarter is $1.11. No consensus is available for revenue.
| Metric | Expected (consensus) | Year-ago / previous quarter |
|---|---|---|
| EPS | $1.11 | $1.06 year ago; $1.21 last quarter |
| Revenue | No consensus | Not stated |
| Net income | Not available | $9.1bn in Q2 |
The expected EPS is $0.10 below the second quarter’s reported figure and $0.05 above the same quarter a year earlier.
Track record
The bank has beaten the EPS estimate in each of the last four reported quarters.
| Quarter | Consensus EPS | Actual EPS | Surprise |
|---|---|---|---|
| Q3 2025 | $0.95 | $1.06 | +$0.11 |
| Q4 2025 | $0.96 | $0.98 | +$0.02 |
| Q1 2026 | $1.02 | $1.11 | +$0.09 |
| Q2 2026 | $1.13 | $1.21 | +$0.08 |
The largest beat was the third quarter of last year at $0.11, the smallest the fourth quarter at $0.02. This quarter’s $1.11 consensus sits below the last reported $1.21.
Into the print
The shares closed on Friday at $54.32, up 1.32% on the day from $53.61. That is about 16% below the six-month high close of $64.81 on the 12th of August, and above the low close of $49.77 on the 15th of May.
What to watch
The second quarter set the comparison. Bank of America reported net income of $9.1bn, up 27% on a year earlier, and diluted EPS of $1.21, up 34%, according to CNBC-TV18. Chief executive Brian Moynihan said on the second-quarter call:
We continue to see strong consumer spending.
Brian Moynihan, Bank of America
Management is reported to have guided full-year net interest income, the gap between what the bank earns on loans and pays on deposits, to the upper end of its range, while warning that second-half comparisons get tougher. The third-quarter earnings per share and net income figures, and what Moynihan and chief financial officer Alastair Borthwick say about the final quarter, are the lines to read.
Scenarios
A beat would extend the run of four. A result in line with $1.11 would still be a step down from $1.21, and a miss would break the run.
Key times
- Results: about 11:45 UK time (6:45am New York) on the 14th of October
- Call: 1:30pm UK time (8:30am New York) the same day
- Replay: from noon New York time on the 14th of October until 11:59pm on the 23rd of October
Glossary
EPS: earnings per share, the profit attributable to each share.
Consensus: the average analyst forecast for a figure.
Net interest income: interest earned on loans less interest paid to depositors.
