Filing Flows › Keycorp (KEY) › Q3 2025
Keycorp (KEY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Keycorp (KEY) reported revenue of $1.9B for the third quarter 2025 (Q3 2025), +173% from a year earlier and +3% from the quarter before. Operating margin was 31.8%, net earnings $489M (25.8% of revenue).
Keycorp, Q3 2025: revenue $1.9B (+173% year over year), operating margin 31.8%, net earnings $489M, operating cash flow $396M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +3% | +173% |
| Operating profit | $602M | +11% | — |
| Net earnings | $489M | +15% | — |
| Operating cash flow | $396M | -68% | — |
| Free cash flow | $367M | -70% | — |
What changed
Revenue was $1.9B in Q3 2025, up 173% year over year and up 3% from the previous quarter. Trust and investment services income was the largest line at 7% of revenue. Trust and investment services income added $0.01B year over year (up 8%), 1% of the total change. Other noninterest income declined 33%.
Operating profit was $0.60B, a 31.8% margin (up 104.6 points year over year). Total costs grew 8% against revenue growth of 173%. Net earnings were $0.49B. The effective tax rate was 18.6%.
Operating cash flow was $0.40B, 81% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.03B left free cash flow of $0.37B.
Questions
What was Keycorp's revenue in the third quarter 2025?
Keycorp (KEY) reported revenue of $1.9B for the third quarter 2025 (Q3 2025), +173% from a year earlier and +3% from the quarter before.
Was Keycorp profitable in the third quarter 2025?
Operating profit was $602M (31.8% of revenue) and net earnings $489M.
Source: Keycorp 10-Q on SEC EDGAR.