KEYCORP /NEW/
For the period ended Mar 31, 2026. Filed May 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
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Business outlook
Consistent with the forward guidance we provided on April 16, 2026, we expect these current year results, that is, full year 2026 vs. full year 2025:
| Category | 2025 Baseline | FY2026 (vs FY 2025)(a) |
|---|---|---|
| Revenue (TE)(b) | $7,513 Million | up ~7% |
| Net interest income (TE) (b) | $4,671 Million | up 9 to 10% |
| Net interest margin | 4Q exit rate: ~3.05%(c) | |
| Noninterest income | $2,842 Million | up 3 - 4% |
| Noninterest income on an adjusted basis(b)(d) | $2,495 Million | up 5 - 6% |
| Adjusted noninterest expense(b) | $4,729 Million | up 3 to 4% |
| Average loans | $105.7 Billion | up 2 - 4% |
| Average Commercial Loans | $74.5 Billion | up 6 - 8% |
| Net charge-offs to average loans | 40 to 45 basis points | |
| Effective tax rate | ~22% | |
| Tax-equivalent Effective Rate(e) | ~23% |
(a) Ranges are shown on an operating basis.
(b) Key is unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly related GAAP financial measures due to the difficulty in forecasting when future amounts may occur. Such unavailable information could be significant for future results.
(c) Average earning assets stable to 1Q26.
(d) Excluding commercial mortgage servicing fees, operating lease income and other leasing gains, other income, and net securities gains (losses).
(e) Reflects the estimated full year taxable-equivalent adjustment.
We have established the following medium-term targets reflecting expected run rates by the end of 2027:
| Return on tangible common equity(a) | 15.0%+ | Net Interest Margin | 3.25%+ |
|---|
(a) Key is unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly related GAAP financial measures due to the difficulty in forecasting when future amounts may occur. Such unavailable information could be significant for future results.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.