Filing Flows › Cullen/Frost Bankers (CFR) › Q3 2026
Cullen/Frost Bankers (CFR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Cullen/Frost Bankers (CFR) reported revenue of $604M for the third quarter 2026 (Q3 2026), +6% from a year earlier and +5% from the quarter before. Operating margin was 35.5%, net earnings $180M (29.8% of revenue).
Cullen/Frost Bankers, Q3 2026: revenue $604M (+6% year over year), operating margin 35.5%, net earnings $180M, operating cash flow $293M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $604M | +5% | +6% |
| Operating profit | $215M | +5% | +3% |
| Net earnings | $180M | +5% | +3% |
| Operating cash flow | $293M | +453% | +18% |
| Free cash flow | $249M | — | +17% |
What changed
Revenue was $603.8M in Q3 2026, up 6% year over year and up 5% from the previous quarter.
Operating profit was $214.5M, a 35.5% margin (down 1.1 points year over year). Of the extra revenue versus Q3 2025, 18% reached operating profit, below the 37% margin then. Total costs grew 8% against revenue growth of 6%. Net earnings were $180.2M, up 3% year over year. The effective tax rate was 16.0%.
Operating cash flow was $292.6M (up 18% year over year), 162% of net earnings. Non-cash charges added back $22.8M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items added $84.0M. Capital expenditures of $44.0M left free cash flow of $248.7M.
Questions
What was Cullen/Frost Bankers' revenue in the third quarter 2026?
Cullen/Frost Bankers (CFR) reported revenue of $604M for the third quarter 2026 (Q3 2026), +6% from a year earlier and +5% from the quarter before.
Was Cullen/Frost Bankers profitable in the third quarter 2026?
Operating profit was $215M (35.5% of revenue) and net earnings $180M.