COF

EX-99.1

2 ex991q22026earningsrelease.htm

EX-99.1

Document

Exhibit 99.1

News Release

Contacts:

Investor RelationsMedia Relations

Jeff NorrisDanielle DietzSie Soheili

jeff.norris@capitalone.comdanielle.dietz@capitalone.comsie.soheili@capitalone.com

FOR IMMEDIATE RELEASE: July 21, 2026

Capital One Reports Second Quarter 2026 Net Income of $3.0 billion, or $4.73 per share

Net of adjusting items, Second Quarter 2026 Net Income of $5.81 per share(1)

McLean, Va. (July 21, 2026) – Capital One Financial Corporation (NYSE: COF) today announced net income for the second quarter of 2026 of $3.0 billion, or $4.73 per diluted common share, compared with net income of $2.2 billion, or $3.34 per diluted common share in the first quarter of 2026, and with net loss of $4.3 billion, or $(8.58) per diluted common share in the second quarter of 2025. Adjusted net income(1) for the second quarter of 2026 was $5.81 per diluted common share.

"Our results in the second quarter continue to reflect solid top line growth and strong credit performance," said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. "We’re now 14 months into our integration of Discover, and integration is going well."

The quarter included the following adjusting items:

(Dollars in millions, except per share data)Pre-Tax ImpactAfter-Tax Diluted EPS Impact

Acquisition amortization expenses(2) $494 $0.60

Discover integration expenses$298 $0.36

Brex integration expenses$96 $0.12

Capital One Second Quarter 2026 Earnings

Page 2

All comparisons below are for the second quarter of 2026 compared with the first quarter of 2026 unless otherwise noted.

Second Quarter 2026 Income Statement Summary:

•Total net revenue increased 4 percent to $15.9 billion.

•Total non-interest expense increased 7 percent to $9.0 billion:

◦11 percent increase in marketing.

◦6 percent increase in operating expenses.

•Pre-provision earnings(3) increased 1 percent to $6.8 billion.

•Provision for credit losses decreased $1.1 billion to $3.0 billion:

◦Net charge-offs of $3.6 billion.

◦$662 million loan reserve release.

•Net interest margin of 8.01 percent, an increase of 14 basis points.

•Efficiency ratio of 57.05 percent.

◦Adjusted efficiency ratio(4) of 51.38 percent.

•Operating efficiency ratio of 46.57 percent.

◦Adjusted operating efficiency ratio(4) of 40.88 percent.

Second Quarter 2026 Balance Sheet Summary:

•Common equity Tier 1 capital ratio(5) under Basel III Standardized Approach of 13.7% percent at June 30, 2026.

•Period-end loans held for investment in the quarter increased $9.4 billion, or 2 percent, to $457.2 billion.

◦Credit Card period-end loans increased $4.9 billion, or 2 percent, to $275.4 billion.

•Domestic Card period-end loans increased $5.0 billion, or 2 percent, to $259.0 billion.

◦Consumer Banking period-end loans increased $3.6 billion, or 4 percent, to $90.5 billion.

•Auto period-end loans increased $3.6 billion, or 4 percent, to $89.3 billion.

◦Commercial Banking period-end loans increased $1.0 billion, or 1 percent, to $91.3 billion.

•Average loans held for investment in the quarter increased $4.4 billion, or 1 percent, to $450.7 billion.

◦Credit Card average loans increased $223 million, or less than 1 percent, to $271.2 billion.

•Domestic Card average loans increased $589 million, or less than 1 percent, to $254.6 billion.

◦Consumer Banking average loans increased $2.9 billion, or 3 percent, to $88.6 billion.

•Auto average loans increased $2.9 billion, or 3 percent, to $87.4 billion.

◦Commercial Banking average loans increased $1.3 billion, or 1 percent, to $90.9 billion.

•Period-end total deposits decreased $4.8 billion, or 1 percent, to $484.3 billion, while average deposits increased $6.8 billion, or 1 percent, to $486.8 billion.

•Interest-bearing deposits rate paid decreased 9 basis points to 2.91 percent.

Capital One Second Quarter 2026 Earnings

Page 3

Earnings Conference Call Webcast Information

The company will hold an earnings conference call on July 21, 2026 at 5:00 PM Eastern Time. The conference call will be accessible through live webcast. Interested investors and other individuals can access the webcast via the company’s home page (www.capitalone.com). Under “About,” choose “Investors” to access the Investor Center and view and/or download the earnings press release, the financial supplement, including a reconciliation of non-GAAP financial measures, and the earnings release presentation. The replay of the webcast will be archived on the company’s website through August 4, 2026 at 5:00 PM Eastern Time.

Forward-Looking Statements

Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Forward-looking statements often use words such as “will,” “anticipate,” “target,” “expect,” “think,” “estimate,” “intend,” “plan,” “goal,” “believe,” “forecast,” “outlook” or other words of similar meaning. Any forward-looking sta

EX-99.1

2 ex991q12026earningsrelease.htm

EX-99.1

Document

Exhibit 99.1

News Release

Contacts:

Investor RelationsMedia Relations

Jeff NorrisDanielle DietzSie Soheili

jeff.norris@capitalone.comdanielle.dietz@capitalone.comsie.soheili@capitalone.com

FOR IMMEDIATE RELEASE: April 21, 2026

Capital One Reports First Quarter 2026 Net Income of $2.2 billion, or $3.34 per share

Net of adjusting items, First Quarter 2026 Net Income of $4.42 per share(1)

McLean, Va. (April 21, 2026) – Capital One Financial Corporation (NYSE: COF) today announced net income for the first quarter of 2026 of $2.2 billion, or $3.34 per diluted common share, compared with net income of $2.1 billion, or $3.26 per diluted common share in the fourth quarter of 2025, and with net income of $1.4 billion, or $3.45 per diluted common share in the first quarter of 2025. Adjusted net income(1) for the first quarter of 2026 was $4.42 per diluted common share.

"Our results in the first quarter reflect solid top line growth and strong credit performance," said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. "The Discover integration continues to go well and we continue to build momentum from this game-changing acquisition."

The quarter included the following adjusting items:

(Dollars in millions, except per share data)Pre-Tax ImpactAfter-Tax Diluted EPS Impact

Discover amortization expenses$477 $0.58

Discover integration expenses$415 $0.50

Capital One First Quarter 2026 Earnings

Page 2

All comparisons below are for the first quarter of 2026 compared with the fourth quarter of 2025 unless otherwise noted.

First Quarter 2026 Income Statement Summary:

•Total net revenue decreased 2 percent to $15.2 billion.

•Total non-interest expense decreased 9 percent to $8.5 billion:

◦23 percent decrease in marketing.

◦6 percent decrease in operating expenses.

•Pre-provision earnings(2) increased 8 percent to $6.8 billion.

•Provision for credit losses decreased $74 million to $4.1 billion:

◦Net charge-offs of $3.8 billion.

◦$230 million loan reserve build.

•Net interest margin of 7.87 percent, a decrease of 39 basis points.

•Efficiency ratio of 55.57 percent.

◦Adjusted efficiency ratio(3) of 49.71 percent.

•Operating efficiency ratio of 45.74 percent.

◦Adjusted operating efficiency ratio(3) of 39.88 percent.

First Quarter 2026 Balance Sheet Summary:

•Common equity Tier 1 capital ratio(4) under Basel III Standardized Approach of 14.4 percent at March 31, 2026.

•Period-end loans held for investment in the quarter decreased $5.9 billion, or 1 percent, to $447.8 billion.

◦Credit Card period-end loans decreased $9.0 billion, or 3 percent, to $270.6 billion.

•Domestic Card period-end loans decreased $8.4 billion, or 3 percent, to $254.0 billion.

◦Consumer Banking period-end loans increased $2.1 billion, or 2 percent, to $86.9 billion.

•Auto period-end loans increased $2.1 billion, or 3 percent, to $85.7 billion.

◦Commercial Banking period-end loans increased $1.1 billion, or 1 percent, to $90.3 billion.

•Average loans held for investment in the quarter increased $1.6 billion, or less than 1 percent, to $446.2 billion.

◦Credit Card average loans decreased $1.3 billion, or less than 1 percent, to $271.0 billion.

•Domestic Card average loans decreased $1.2 billion, or less than 1 percent, to $254.0 billion.

◦Consumer Banking average loans increased $1.7 billion, or 2 percent, to $85.7 billion.

•Auto average loans increased $1.8 billion, or 2 percent, to $84.5 billion.

◦Commercial Banking average loans increased $1.1 billion, or 1 percent, to $89.6 billion.

•Period-end total deposits increased $13.3 billion, or 3 percent, to $489.1 billion, while average deposits increased $9.0 billion, or 2 percent, to $480.0 billion.

•Interest-bearing deposits rate paid decreased 16 basis points to 3.00 percent.

Capital One First Quarter 2026 Earnings

Page 3

Earnings Conference Call Webcast Information

The company will hold an earnings conference call on April 21, 2026 at 5:00 PM Eastern Time. The conference call will be accessible through live webcast. Interested investors and other individuals can access the webcast via the company’s home page (www.capitalone.com). Under “About,” choose “Investors” to access the Investor Center and view and/or download the earnings press release, the financial supplement, including a reconciliation of non-GAAP financial measures, and the earnings release presentation. The replay of the webcast will be archived on the company’s website through May 5, 2026 at 5:00 PM Eastern Time.

Forward-Looking Statements

Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Forward-looking statements often use words such as “will,” “anticipate,” “target,” “expect,” “think,” “estimate,” “intend,” “plan,” “goal,” “believe,” “forecast,” “outlook” or other words of similar meaning. Any forward-looking statements made by Capital

EX-99.1

2 d45426dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

News Release

Contacts:

Investor Relations

Media Relations

Jeff Norris

Danielle Dietz

Sie Soheili

jeff.norris@capitalone.com

danielle.dietz@capitalone.com

sie.soheili@capitalone.com

FOR IMMEDIATE RELEASE: January 22, 2026

Capital One Reports Fourth Quarter 2025 Net Income of $2.1 billion, or $3.26 per share

Net of adjusting items, Fourth Quarter 2025 Net Income of $3.86 per share(1)

McLean, Va. (January 22, 2026) – Capital One Financial Corporation (NYSE: COF) today announced net income for the fourth quarter of 2025 of $2.1 billion, or $3.26 per diluted common share, compared with net income of $3.2 billion, or $4.83 per diluted common share in the third quarter of 2025, and with net income of $1.1 billion, or $2.67 per diluted common share in the fourth quarter of 2024. Adjusted net income(1) for the fourth quarter of 2025 was $3.86 per diluted common share.

On January 22, 2026, Capital One entered into a definitive agreement to acquire Brex Inc. for $5.15 billion with approximately 50% cash and 50% stock consideration.

“Our fourth quarter and full year results reflect solid top line growth and strong and stable credit performance” said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. “Years of strategic preparation and our choices to consistently invest to sustain long-term growth and returns enable our results and put us in a strong position going forward. I’m struck by the number and quality of the opportunities we have before us.”

The quarter included the following adjusting items:

(Dollars in millions, except per share data)

Pre-Tax

Impact

After-Tax

Diluted EPS Impact

Discover intangible amortization expense

$ 509

$ 0.61

Discover loan and deposit fair value mark amortization

$ 37

$ 0.04

Discover integration expenses

$ 352

$ 0.42

Legal reserve activities

$ 117

$ 0.14

Gain on sale of home loan portfolio

$ (483 )

$ (0.58 )

FDIC special assessment

$ (29 )

$ (0.03 )

The quarter included the following notable items:

(Dollars in millions, except per share data)

Pre-Tax

Impact

After-Tax

Diluted EPS Impact

Accelerated philanthropy contributions

$ 200

$ 0.24

Pension termination expense

$ 37

$ 0.04

Capital One Fourth Quarter 2025 Earnings

Page 2

All comparisons below are for the fourth quarter of 2025 compared with the third quarter of 2025 unless otherwise noted.

Fourth Quarter 2025 Income Statement Summary:

•

Total net revenue increased 1 percent to $15.6 billion.

•

Total non-interest expense increased 13 percent to $9.3 billion:

○

38 percent increase in marketing.

○

8 percent increase in operating expenses.

•

Pre-provision

earnings(2) decreased 12 percent to $6.2 billion.

•

Provision for credit losses increased $1.4 billion to $4.1 billion:

○

Net charge-offs of $3.8 billion.

○

$302 million loan reserve build.

•

Net interest margin of 8.26 percent, a decrease of 10 basis points.

○

Adjusted net interest margin(3) of 8.28 percent.

•

Efficiency ratio of 59.95 percent.

○

Adjusted efficiency ratio(3) of 53.73 percent.

•

Operating efficiency ratio of 47.54 percent.

○

Adjusted operating efficiency ratio(3) of 41.35 percent.

Fourth Quarter 2025 Balance Sheet Summary:

•

Common equity Tier 1 capital ratio(4) under Basel III Standardized Approach of 14.3 percent at December 31, 2025.

•

Period-end loans held for investment in the quarter increased

$10.5 billion, or 2 percent, to $453.6 billion.

○

Credit Card period-end loans increased $8.5 billion, or

3 percent, to $279.6 billion.

•

Domestic Card period-end loans increased $8.5 billion, or

3 percent, to $262.4 billion.

○

Consumer Banking period-end loans increased $1.6 billion, or

2 percent, to $84.8 billion.

•

Auto period-end loans increased $1.6 billion, or 2 percent, to

$83.6 billion.

○

Commercial Banking period-end loans increased $370 million, or less

than 1 percent, to $89.3 billion.

•

Average loans held for investment in the quarter increased $4.8 billion, or 1 percent, to $444.7 billion.

○

Credit Card average loans increased $3.1 billion, or 1 percent, to $272.2 billion.

•

Domestic Card average loans increased $3.1 billion, or 1 percent, to $255.2 billion.

○

Consumer Banking average loans increased $1.7 billion, or 2 percent, to $84.0 billion.

•

Auto average loans increased $1.7 billion, or 2 percent, to $82.8 billion.

○

Commercial Banking average loans increased $106 million, or less than 1 percent, to $88.5 billion.

•

Period-end total deposits increased $7.0 billion, or 1 percent,

to $475.8 billion, while average deposits increased $3.7 billion, or 1 percent, to $471.0 billion.

•

Interest-bearing deposits rate paid decreased 11 basis points to 3.16 percent.

Capital One Fourth Quarter 2025 Earnings

Page 3

2025 Full Year Income Statement Summary:

○

Total net revenue increased 37 percent to $53.4 billion.

○

Total non-interest expense increased 42 percent to $30.5 billion: