NYSE$RY
Royal Bank of Canada · Q1 2026 earnings
Q1 2026 earnings · · Investor relations
Briefing
Royal Bank of Canada reported Q1 2026 record net income of C$5.8B on C$18.0B revenue, with diluted EPS of C$4.03.
For the quarter ended January 31, 2026, RBC earned record net income of C$5.8 billion (up 13% year over year) on total revenue of C$18.0 billion (up 7%). Diluted EPS was C$4.03 versus C$3.54 a year ago; adjusted diluted EPS was C$4.08. Pre-provision, pre-tax earnings reached a record C$8.5 billion, up 14%. The bank returned C$3.3 billion of capital in the quarter, including C$1.0 billion of share buybacks and C$2.3 billion of common dividends, with a CET1 ratio of 13.7%.
- Record net income of C$5.8B (+13% YoY) and total revenue of C$18.0B (+7% YoY) for the three months ended January 31, 2026.
- Diluted EPS was C$4.03 (+14% YoY); adjusted diluted EPS was C$4.08 (+13% YoY); record PPPT of C$8.5B (+14% YoY).
- Wealth Management net income rose 32% YoY on higher fee-based assets; Personal Banking up 17% and Commercial Banking up 11%, while Insurance fell 22% on prior-year reinsurance recaptures.
- CET1 ratio of 13.7% (+50 bps YoY); C$3.3B returned to shareholders (C$1.0B buybacks, C$2.3B dividends); PCL on loans ratio 41 bps (down 1 bp YoY, up 2 bps QoQ).
Headline financials
Revenue & EPS history
RBC · Revenue · Quarterly
C$13.1B
Revenue by segment
RBC · C$5.81B total across 5 segments · Q1 2026
- Personal BankingC$1.96B+16.9%33.8%
- Capital MarketsC$1.48B+3.2%25.4%
- Wealth ManagementC$1.3B+32.1%22.3%
- Commercial BankingC$863M+11.1%14.9%
- InsuranceC$213M-21.7%3.7%
Forward guidance
Management did not issue quantitative revenue or EPS targets for upcoming quarters. The bank highlighted a robust CET1 ratio of 13.7%, record first-quarter earnings, and C$3.3 billion of capital returned (C$1.0 billion of share repurchases and C$2.3 billion of dividends). Detailed macro and segment outlook is in the Q1 2026 Report to Shareholders and MD&A on SEDAR+.
Tailwinds
- Record Q1 net income and pre-provision, pre-tax earnings, with diluted EPS up 14% year over year.
- CET1 ratio of 13.7% supports volume growth and continued buybacks and dividends.
- C$3.3 billion returned to shareholders in the quarter, including C$1.0 billion of repurchases.
- Wealth Management and Personal Banking drove year-over-year earnings growth on NII and fee-based assets.
Headwinds
- Insurance net income down 22% year over year on a tough comparison to prior-year reinsurance recaptures.
- PCL on loans ratio up 2 bps quarter over quarter on higher impaired provisions in Capital Markets and Personal Banking.
- Average LCR declined to 124% from 127% last quarter as securities and loans grew.
- Forward-looking statements cite trade and tariff uncertainty among macro risks in the outlook.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+0.3%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-0.3%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+5.5%
Q3 2025
Best reaction
-7.4%
Q4 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -0.1% | +1.1% | — | |
| Q1 2026 | -2.2% | -4.5% | -8.9% | |
| Q4 2025 | +1.5% | +5.8% | +10.6% | |
| Q3 2025 | +5.5% | +5.6% | +6.1% | |
| Q2 2025 | -3.1% | -1.1% | +0.6% | |
| Q1 2025 | -3.6% | -5.8% | -6.1% | |
| Q4 2024 | +0.5% | +1.0% | -3.5% | |
| Q3 2024 | +2.1% | +3.8% | +6.8% | |
| Q2 2024 | +5.4% | +4.5% | +3.4% | |
| Q1 2024 | +0.2% | +0.3% | +4.1% | |
| Q4 2023 | +4.3% | +4.5% | +15.8% | |
| Q3 2023 | +0.1% | +1.8% | +0.3% | |
| Q2 2023 | -0.8% | -0.6% | +1.8% | |
| Q1 2023 | -1.2% | -0.7% | -5.8% | |
| Q4 2022 | +1.9% | -0.2% | -4.5% | |
| Q3 2022 | -0.2% | -1.4% | -6.9% | |
| Q2 2022 | +2.7% | +4.1% | -3.9% | |
| Q1 2022 | +0.5% | -1.9% | +3.1% | |
| Q4 2021 | +1.1% | +2.2% | +7.2% | |
| Q3 2021 | -0.3% | -0.7% | -3.5% | |
| Q2 2021 | +1.3% | +1.6% | -0.1% | |
| Q1 2021 | -1.5% | -2.4% | +4.7% | |
| Q4 2020 | -0.5% | -0.1% | -0.7% | |
| Q3 2020 | +2.1% | +0.2% | -7.1% | |
| Q2 2020 | +3.9% | +5.6% | +4.5% | |
| Q1 2020 | +0.0% | -4.1% | -33.0% | |
| Q4 2019 | -1.5% | -2.2% | -1.6% | |
| Q3 2019 | +0.3% | -0.8% | +9.2% | |
| Q2 2019 | -1.4% | -2.0% | +1.4% | |
| Q1 2019 | +0.4% | +1.5% | -1.6% | |
| Q4 2018 | +2.5% | +2.7% | -5.1% | |
| Q3 2018 | +1.1% | +2.2% | +2.7% | |
| Q2 2018 | -3.6% | -5.6% | -3.2% | |
| Q1 2018 | +0.5% | -2.0% | -4.3% | |
| Q4 2017 | -0.1% | +1.8% | +4.2% | |
| Q3 2017 | +1.4% | +1.7% | +4.5% | |
| Q2 2017 | +0.8% | +0.3% | +2.6% | |
| Q4 2016 | -2.4% | -1.1% | +1.0% | |
| Q3 2016 | -1.0% | -1.3% | -2.9% | |
| Q2 2016 | +1.6% | -1.1% | -2.5% | |
| Q1 2016 | -1.1% | — | — | |
| Q4 2015 | -0.7% | — | — | |
| Q3 2015 | +3.5% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | +2.6% | — | — | |
| Q4 2014 | -0.8% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | -1.2% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | -2.0% | — | — | |
| Q2 2013 | +0.3% | — | — | |
| Q1 2013 | +0.4% | — | — | |
| Q4 2012 | +1.4% | — | — | |
| Q3 2012 | -1.5% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2011 | -7.4% | — | — | |
| Q3 2011 | +0.5% | — | — | |
| Q2 2011 | -0.2% | — | — | |
| Q1 2011 | +2.8% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q3 2010 | +1.9% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q1 2010 | +1.3% | — | — | |
| Q4 2009 | — | — | — | |
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| Q4 2003 | — | — | — |
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