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Webster Financial earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Jul 27, 2026
Q2 2026 Revenue up 3% year over year to $740M · 35¢ of every $1 of revenue kept as net profit · operating margin 48.0%
Webster Financial made $740M in Q2 2026 (+3% Y/Y). Operating margin 48.0%, net earnings $257M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 27, 2026.
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What changed this quarter
Revenue was $740.0M in Q2 2026, up 3% year over year and up 1% from the previous quarter.
Operating profit was $355.0M, a 48.0% margin (down 3.7 points year over year). Operating profit fell $15.1M even though revenue rose $24.2M versus Q2 2025, so costs grew faster than sales. Total costs grew 11% against revenue growth of 3%. Net earnings were $256.8M, down 1% year over year. The effective tax rate was 20.6%.
Operating cash flow was $385.8M (up 42% year over year), 150% of net earnings. Non-cash charges added back $19.9M of depreciation and amortization and $17.2M of share-based compensation. Working capital and other items added $91.9M. Capital expenditures of $14.5M left free cash flow of $371.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Jul 27, 2026 | $740M | +3% | 48.0% | $257M | $386M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $736M | +4% | 48.5% | $246M | $289M |
| Q4 2025 | 10-K | Feb 27, 2026 | $746M | +13% | 48.6% | $256M | $318M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $733M | +13% | 51.3% | $261M | $375M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $716M | +16% | 51.7% | $259M | $271M |
| Q1 2025 | 10-Q | May 9, 2025 | $705M | +6% | 51.2% | $227M | $94.9M |
| Q4 2024 | 10-K | Mar 3, 2025 | $661M | +4% | 48.5% | $178M | $891M |
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About Webster Financial
The Company is a bank holding company that has elected to be treated as a financial holding company under the BHC Act, incorporated under the laws of Delaware in 1986, and headquartered in Stamford, Connecticut. As of December 31, 2025, the Company had $84.1 billion in total consolidated assets. The Bank is a commercial bank with a national bank charter focused on providing financial products and services to businesses, individuals, and families. While its core footprint spans the Northeast from the New York metropolitan area to Rhode Island and Massachusetts, certain businesses operate in extended geographies. The Bank offers three differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking.
In its own words, from its 10-K, filed Feb 27, 2026.
Webster Financial against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +6%. Operating margin: 48.0% against the peers' median 32.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Webster Financial | Q2 2026 | $740M | +3% | 48.0% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: Webster Financial 10-Q on SEC EDGAR · CIK 801337 · National Commercial Banks