Filing Flows › Keycorp (KEY) › Q1 2026
Keycorp (KEY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Keycorp (KEY) reported revenue of $2.0B for the first quarter 2026 (Q1 2026), +10% from a year earlier and -3% from the quarter before. Operating margin was 33.7%, net earnings $522M (26.7% of revenue).
Keycorp, Q1 2026: revenue $2.0B (+10% year over year), operating margin 33.7%, net earnings $522M, operating cash flow −$62.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | -3% | +10% |
| Operating profit | $658M | +2% | +28% |
| Net earnings | $522M | +2% | +29% |
| Operating cash flow | −$62.0M | -109% | — |
What changed
Revenue was $2.0B in Q1 2026, up 10% year over year and down 3% from the previous quarter. Investment banking and debt placement fees was the largest line at 8% of revenue. Investment banking and debt placement fees added $0.03B year over year (up 20%), 14% of the total change.
Operating profit was $0.66B, a 33.7% margin (up 4.6 points year over year). Of the extra revenue versus Q1 2025, 79% reached operating profit, above the 29% margin then. Total costs grew 3% against revenue growth of 10%. Net earnings were $0.52B, up 29% year over year. The effective tax rate was 20.7%.
Operating cash flow was −$0.06B. Non-cash charges added back $0.03B of share-based compensation. Working capital and other items used $0.61B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$0.07B.
Questions
What was Keycorp's revenue in the first quarter 2026?
Keycorp (KEY) reported revenue of $2.0B for the first quarter 2026 (Q1 2026), +10% from a year earlier and -3% from the quarter before.
Was Keycorp profitable in the first quarter 2026?
Operating profit was $658M (33.7% of revenue) and net earnings $522M.
Source: Keycorp 10-Q on SEC EDGAR.