BofA (BAC) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 15, 2026 astatine 10:38 AM CDT 63 min read

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Wednesday, April 15, 2026 astatine 8:30 a.m. ET

• Chair and Chief Executive Officer — Brian Moynihan

• Chief Financial Officer — Alastair Borthwick

• Operator

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Brian Moynihan: Good morning, and convey you for joining america each of us. It's the our net study for the archetypal 4th of 2026. I'm going to statesman connected Slide 2. Bank of America delivered beardown archetypal 4th 2026 results. Revenue grew 7% year-over-year to $30.3 billion. Earnings per stock were up 25% year-over-year to $1.11 per share. This show was driven by balanced results crossed our businesses, continued operating leverage, coagulated lawsuit enactment and unchangeable to modestly improved plus quality. We besides saw coagulated year-over-year maturation successful some loans and deposits. Our superior and liquidity positions stay beardown and good supra existent regulatory requirements.

Along the bottommost of Slide 2, you tin spot the advancement against immoderate of our astir important operating metrics. We delivered operating leverage of 290 ground points this quarter. The ratio ratio for our institution improved 170 ground points year-over-year to 61%. And importantly, we generated instrumentality connected tangible communal equity, ROTCE of 16%. The biggest item I tin supply you is you flip to Slide 3, determination you tin spot that each conception of the institution contributed to our year-over-year growth. Every conception grew revenue. Every conception grew earnings. Every conception grew mean deposits and each conception grew loans and each conception drove beardown returns. Now moving to Slide 4.

Let maine speech astir immoderate of the superior drivers of results earlier Alastair takes you done further details. First, nett involvement income performed amended than expected. On an FTE basis, nett involvement income was $15.9 billion, up 9% year-over-year. Second, our fee-based market-facing businesses performed well, markets, wealthiness and concern banking, each amusement bully momentum. Client enactment remained steadfast and revenues successful each of these areas grew astatine double-digit rates compared to the archetypal 4th of 2025. Third, our squad continued to negociate expenses well. Reported noninterest disbursal of $18.5 cardinal successful the archetypal quarter, which was successful enactment with astir 4% year-over-year summation we discussed successful our past quarterly net call.

Let maine conscionable walk a fewer moments connected disbursal and however we deliberation astir them successful the discourse of delivering maturation and returns for our shareholders. Having said consistently, our absorption is connected delivering durable net and returns. Expense subject is embedded successful however we tally our company. And it's besides 1 of the reasons we're capable to person scale, productivity and macro tailwinds and operating leverage implicit time. In the 4th -- the archetypal quarter, our expenses bespeak the deliberate choices we made.