10-Q · August 4, 2026
KeyCorp delivered stronger year-over-year results, with taxable-equivalent revenue up 6.7% to $1.964 billion and diluted EPS up $0.09 to $0.44, although revenue was only 0.6% above 1Q26 and EPS was flat sequentially.…
Earnings analysis · 10-Q
KEY earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
KeyCorp's third-quarter results were modestly positive, with diluted EPS of $0.51 versus a $0.46 estimate and revenue of $2.052 billion versus a $2.047 billion estimate. The filing confirms substantial capital return,…
Read full summary
KeyCorp's third-quarter results were modestly positive, with diluted EPS of $0.51 versus a $0.46 estimate and revenue of $2.052 billion versus a $2.047 billion estimate. The filing confirms substantial capital return, including $320 million of third-quarter repurchases and approximately $2.458 billion remaining under the $3.0 billion authorization. The supplied 10-Q text does not include the detailed income statement, balance sheet, cash-flow statement, segment data, or a new quantitative outlook, so margin, working-capital, free-cash-flow, and segment conclusions cannot be established from the filing excerpt.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.51
What stood out
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EPS beat estimates by $0.05
Third-quarter diluted EPS was $0.51 versus the $0.46 consensus estimate, a $0.05 beat. Revenue was $2.052 billion versus the $2.047 billion estimate, a $5 million beat.
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Accelerated $320 million buyback
KeyCorp completed $320 million of share repurchases, representing approximately 14 million shares, during the third quarter of 2026.
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Large remaining repurchase capacity
The May 13, 2026 authorization permits up to $3.0 billion of common-share repurchases, replacing the prior $1.0 billion authorization. Approximately $2.458 billion remained available at September 30, 2026.
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Controls remain effective
The company stated that disclosure controls and procedures were effective in all material respects as of September 30, 2026, and reported no material changes to internal control over financial reporting during the last quarter.
What to watch
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Buyback may pressure capital flexibility
The company had completed $320 million of repurchases in the quarter while retaining approximately $2.458 billion under the $3.0 billion authorization. The filing states that repurchases depend on liquidity, capital requirements, regulatory limits, market conditions, and other factors, creating potential capital-allocation and balance-sheet pressure.
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Expanded repurchase commitment
KeyCorp's new authorization is $3.0 billion versus the prior $1.0 billion authorization, increasing the potential scale of future repurchases. The filing says actual timing and amount depend on corporate liquidity requirements and regulatory requirements and limitations.
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No quantified risk update provided
No new quantified risk-factor change is disclosed in the supplied filing: Item 1A directs readers to the 2025 Form 10-K and the current report's supervision-and-regulation discussion. The filing nevertheless identifies legal proceedings and contingent liabilities through Note 14, without providing a quantified exposure in the supplied text.
Management's outlook
No quantitative revenue or EPS guidance was provided in the supplied 10-Q text. The filing does not disclose a formal change to prior outlook; management's previously stated objective was to achieve and sustain at least 15% return on tangible common equity by the end of 2027.
Earlier filings 4
10-Q · May 5, 2026
KeyCorp reported strong Q1 2026 results with a revenue increase to $1.953 billion from $1.773 billion in Q1 2025, reflecting a 10.2% year-over-year growth. Earnings Per Share (EPS) rose to $0.44 compared to $0.33 in Q1…
10-K · February 23, 2026
KeyCorp returned to strong profitability in 2025 with net income of $1,829 million (vs. a loss of $161 million in 2024) and diluted earnings per share from continuing operations of $1.52 in 2025 (vs. $(0.32) in 2024).…
10-Q · November 4, 2025
KeyCorp reported net income from continuing operations of $454 million, or diluted EPS of $0.41, for Q3 2025 and highlights stronger fee businesses and record Assets Under Management of $67.9 billion (up 11% YoY).…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.