NYSE$TD
Toronto-Dominion Bank · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
TD Bank Group reported Q2 2026 adjusted net income of C$4.2B on C$16.0B adjusted revenue, with adjusted diluted EPS of C$2.38.
For the quarter ended April 30, 2026, TD Bank Group earned adjusted net income of C$4.2 billion (up 15% year over year) on adjusted revenue of C$16.0 billion (up 6%). Adjusted diluted EPS was C$2.38 versus C$1.97 a year ago; reported diluted EPS was C$2.43 versus C$6.27, which included a prior-year gain on Schwab shares. The bank delivered record Q2 earnings in Canadian Personal and Commercial Banking, record Wealth Management and Insurance earnings, record Wholesale Banking results, and accelerating momentum in U.S. Banking. CET1 was 14.3% with a fourth consecutive quarter of positive adjusted operating leverage.
- Adjusted net income C$4.2B (+15% YoY) and adjusted diluted EPS C$2.38 (+21% YoY) for the quarter ended April 30, 2026.
- Canadian Personal and Commercial Banking net income C$1.9B (+15% YoY) on 5% revenue growth; U.S. Banking adjusted net income US$702M (+12% YoY in USD).
- Wealth Management and Insurance C$837M (+18% YoY); Wholesale Banking record C$612M (+38% adjusted YoY) on 12% revenue growth.
- CET1 ratio 14.3%; AML remediation remains the top operational priority per management.
Headline financials
Revenue & EPS history
TD · Revenue · Quarterly
C$16B
Forward guidance
Management did not issue consolidated quantitative EPS guidance in the Q2 shareholder report. The bank reiterated AML remediation as the top priority while investing in talent, AI, and client experience and restructuring the cost base. Segment outlook sections in the report discuss 2026 priorities for Canadian P&C, U.S. Banking, wealth, and wholesale franchises.
Tailwinds
- Fourth consecutive quarter of positive adjusted operating leverage.
- CET1 ratio of 14.3% supports growth and capital flexibility.
- Record or all-time-high earnings across Canadian P&C, wealth/insurance, and wholesale.
- U.S. Banking adjusted ROE improved to 9.6% with double-digit proprietary card and middle-market loan growth.
Headwinds
- Reported YoY EPS comparison distorted by prior-year Schwab share-sale gain (items of note).
- AML remediation and enhancements remain the foremost operational focus and cost.
- U.S. Banking reported net income still below adjusted on restructuring and specified items.
- Macro and credit environment discussed in segment outlooks as ongoing monitoring areas.
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 Q2 2026
-0.6%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-1.8%
Avg return
30 days after
45%
19 / 42 earnings
Positive
+6.1%
Q3 2017
Best reaction
-8.2%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +1.1% | +1.0% | — | |
| Q1 2025 | -8.2% | -1.9% | +0.9% | |
| Q1 2024 | +1.0% | -0.3% | +1.6% | |
| Q4 2023 | -1.0% | -1.6% | +5.4% | |
| Q3 2023 | -4.0% | -0.2% | -1.4% | |
| Q2 2023 | -3.7% | -4.5% | -0.9% | |
| Q1 2023 | -1.7% | -4.7% | -10.1% | |
| Q4 2022 | +2.8% | -1.1% | -3.0% | |
| Q3 2022 | +1.1% | -0.9% | -5.7% | |
| Q2 2022 | +3.2% | +4.1% | -11.3% | |
| Q1 2022 | -3.6% | -7.0% | -1.0% | |
| Q4 2021 | +3.8% | +4.6% | +6.9% | |
| Q3 2021 | -3.0% | -4.6% | -3.4% | |
| Q2 2021 | -1.7% | -0.9% | -2.8% | |
| Q1 2021 | -5.1% | -2.3% | +3.6% | |
| Q4 2020 | +1.3% | +1.9% | +3.0% | |
| Q3 2020 | -0.5% | -1.6% | -9.2% | |
| Q2 2020 | -5.8% | -1.0% | -4.2% | |
| Q1 2020 | -6.1% | -7.6% | -26.3% | |
| Q4 2019 | -3.4% | -3.9% | -1.4% | |
| Q3 2019 | +0.7% | -0.3% | +7.5% | |
| Q2 2019 | +3.0% | +2.6% | +5.4% | |
| Q1 2019 | -3.8% | -4.2% | -7.5% | |
| Q4 2018 | -0.3% | -2.3% | -10.7% | |
| Q3 2018 | -1.5% | -2.7% | -1.0% | |
| Q2 2018 | +0.2% | -1.6% | -1.5% | |
| Q1 2018 | -0.1% | +1.2% | -1.9% | |
| Q4 2017 | -1.0% | -2.3% | +0.3% | |
| Q3 2017 | +6.1% | +5.3% | +9.5% | |
| Q2 2017 | +1.6% | +1.9% | +4.8% | |
| Q1 2017 | -0.1% | +0.1% | -4.0% | |
| Q4 2016 | +0.6% | +1.7% | +4.1% | |
| Q3 2016 | -1.0% | +0.7% | -0.9% | |
| Q2 2016 | +0.2% | -1.1% | -3.6% | |
| Q1 2016 | +3.3% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +2.9% | — | — | |
| Q2 2015 | -3.1% | — | — | |
| Q1 2015 | +0.9% | — | — | |
| Q4 2014 | -5.2% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q2 2010 | +4.1% | — | — |
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