JPMorgan Chase & Co. Q1 Earnings Call Highlights

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MarketBeat

Tue, April 14, 2026 astatine 9:50 AM CDT 9 min read

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JPMorgan reported Q1 nett income of $16.5 billion and EPS of $5.94$50.5 cardinal driven by higher markets revenue, plus absorption and concern banking fees, portion expenses climbed 14% and recognition costs were $2.5 billion.
Management warned the projected Basel III Endgame and G‑SIB reproposals would materially rise superior needs — estimating astir a $20 billion summation successful G‑SIB superior and a planned surcharge of 5.2% by 2028 — and criticized the proposals’ methodology arsenic insufficiently risk‑sensitive.
For full‑year 2026 the steadfast inactive expects NII ex‑markets of astir $95 billion (total NII ~$103 billion), adjusted expenses of ~$105 billion, and said it presently measures astir $40 billion of excess superior portion prioritizing concern maturation implicit buybacks.
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JPMorgan Chase & Co. (NYSE:JPM) opened its first-quarter 2026 net telephone by reporting results that were driven by stronger markets and interest income, portion executives besides spent sizeable clip discussing projected U.S. superior rules and their imaginable interaction connected the firm’s requirements.

Chief Financial Officer Jeremy Barnum said the steadfast reported nett income of $16.5 cardinal and net per stock of $5.94, producing a instrumentality connected tangible communal equity (ROTCE) of 23%.

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Revenue of $50.5 cardinal accrued 10% twelvemonth implicit year, which Barnum attributed chiefly to “higher markets revenue, higher plus absorption and concern banking fees, and higher NII driven by the interaction of equilibrium expanse growth,” partially offset by the interaction of little rates.

Expenses were $26.9 billion, up 14% twelvemonth implicit year. Barnum said the summation was “largely driven by higher compensation, including higher revenue-related compensation and maturation successful beforehand bureau employees,” on with higher brokerage disbursal and organisation fees. He besides noted that expenses reflected “the lack of an FDIC peculiar accrual merchandise successful the anterior year.”

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Credit costs were $2.5 billion, including nett charge-offs of $2.3 cardinal and a nett reserve physique of $191 million.

On capital, Barnum said the standardized CET1 ratio ended the 4th astatine 14.3%, down 30 ground points from the anterior quarter, arsenic nett income was much than offset by superior distributions and higher risk-weighted assets. Standardized RWA roseate $60 billion, which helium said was “primarily driven by the Markets business,” reflecting higher lawsuit activity, seasonal effects, and higher vigor prices that accrued marketplace and recognition hazard RWAs ex lending.

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