AXP

EX-99.1

2 q326exhibit991.htm

EX-99.1

Document

EXHIBIT 99.1

New York | October 23, 2026

AMERICAN EXPRESS

Q3 2026 RESULTS

AMERICAN EXPRESS RAISES FY 2026 EARNINGS PER SHARE GUIDANCE

COMPANY DELIVERED RECORD Q3 REVENUE OF $20.1 BILLION, UP 9% YOY

Q3 EPS ROSE 31% TO $5.42, OR 13% TO $4.68 ON AN ADJUSTED BASIS1

(Millions, except per share amounts, and where indicated)

Quarters Ended

September 30,

YoY%

Inc/(Dec)

Nine Months Ended

September 30,

YoY%

Inc/(Dec)

2026

2025

2026

2025

Billed Business (Billions)

FX-adjusted2

$454.0

$421.0

$420.8

8%

8%

$1,337.7

$1,224.7

$1,231.3

9%

9%

Total Revenues Net of Interest Expense

FX-adjusted2

$20,062

$18,426

$18,413

9%

9%

$58,606

$53,249

$53,503

10%

10%

Pretax Income

$4,531

$3,825

18%

$12,380

$10,705

16%

Net Income

$3,712

$2,902

28%

$9,794

$8,371

17%

Diluted Earnings Per Common Share (EPS)3

$5.42

$4.14

31%

$14.22

$11.85

20%

Adjusted EPS1

$4.68

$4.14

13%

$13.49

$11.85

14%

Average Diluted Common Shares Outstanding

674

693

(3)%

680

698

(3)%

American Express Company (NYSE: AXP) today reported third-quarter 2026 net income of $3.7 billion, compared with net income of $2.9 billion a year ago. Earnings per share was $5.42, up 31 percent from $4.14 a year ago. Adjusted net income was $3.2 billion, or $4.68 per share, which excludes the $982 million pre-tax gain ($751 million after-tax) from the previously-announced sale of the company's equity interest in Global Business Travel Group, Inc. (GBTG), net of the portion of the gain used to fund restructuring related to efficiency initiatives.1

Stephen J. Squeri | Chairman and Chief Executive Officer

“We had another strong quarter, delivering 9 percent revenue growth and EPS of $5.42, or $4.68 adjusted, up 13 percent year-over-year.1 Our business momentum continues, with strength in billings, new acquisitions and Card Member retention, and excellent credit quality.

“Given our performance year-to-date, we are raising our full-year EPS guidance to between $18.30 and $18.60 ($17.60-$17.90 adjusted),4 and we're on track to deliver another year of 10 percent revenue growth.

“The progress we’re making across the business and ongoing innovations to enhance our Membership Model give me great confidence in our ability to deliver differentiated value for our customers and strong returns for our shareholders over the long term.”

1

AMERICAN EXPRESS Q3 2026 RESULTS

Third-Quarter 2026 Results

Business Highlights

Third-quarter consolidated total revenues net of interest expense were $20.1 billion, up 9 percent year-over-year. The increase was primarily driven by higher Card Member spending, increased net interest income supported by growth in card balances, and strong card fee growth.

Consolidated provisions for credit losses were $1.0 billion, compared with $1.3 billion a year ago. The decrease reflected a reserve release during the quarter compared to a reserve build in the prior year, partially offset by higher net write-offs. The third-quarter net write-off rate was 1.8 percent, down from 1.9 percent a year ago.5

Consolidated expenses were $14.5 billion, up 9 percent year-over-year. The increase was primarily driven by higher variable customer engagement costs due to increased Card Member spending and the U.S. Platinum Card® refresh, partially offset by lower operating expenses. The decrease in operating expenses was primarily driven by the GBTG sale gain, partially offset by an increase in legal reserves for previously-disclosed matters, and restructuring costs.

The consolidated effective tax rate was 18.1 percent, down from 24.1 percent a year ago, primarily reflecting discrete tax benefits in the current year related to the resolution of certain prior-period tax items.

•American Express launched the next generation of Amex Corporate™, with new integrated Expense Management software and Amex Expense mobile app, along with new Corporate Cashback® Cards.

•The company introduced a new American Express Business Savings account, expanding its banking offerings for businesses.

•American Express extended its long-term strategic partnership with Marriott International, including the U.S. cobrand cards.

•American Express launched an exclusive partnership with Airbnb, bringing over one million listings globally to Amex Travel and expanding travel benefits for eligible U.S. Card Members.

•The company announced Resy integrations, including with OpenAI, and released the Intent Intelligence framework for trusted agentic commerce.

•Card acceptance reached more than 190 million merchant locations worldwide, with acceptance outside the U.S. more than doubling over the past four years.6

•The company opened its newest Centurion Lounge at Amsterdam Airport Schiphol to bring the total to 33 locations, and announced expansions in four locations, including a new 30,000-sq.ft. lounge at Newark Liberty International Airport, its largest to date.

•The company ranked #1 issuer

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