American Express raises 2026 earnings guidance after third-quarter results

Adjusted full-year guidance is $17.60 to $17.90 a share, and the company still expects 10 per cent revenue growth in 2026.

American Express reported third-quarter earnings of $4.68 a share, $0.15 above forecasts. Revenue was $20.06 billion, below the $20.32 billion expected. Stephen Squeri, chairman and chief executive, said the quarter showed strength in billings, new acquisitions, Card Member retention and credit quality.

The company raised its full-year 2026 earnings guidance to $18.30 to $18.60 a share. On an adjusted basis, the range is $17.60 to $17.90 a share. American Express said it remains on track for another year of 10 per cent revenue growth in 2026.

The Federal Reserve and the Office of the Comptroller of the Currency (OCC) have consent orders in place against American Express, and the company faces a $350 million penalty linked to them. The earnings beat and the higher guidance, rather than a cut to absorb the penalty, point to the matter not yet having affected operating results. Revenue was slightly below expectations, but the reaffirmed 10 per cent target fits what American Express said earlier this month: the orders place no limit on its assets and do not change its 2026 or 2027 figures. Credit quality and billings growth support the view that the financial crimes settlement is now closed, and that it does not constrain card issuance or lending.