Filing Flows › Western Alliance Bancorporation (WAL) › Q1 2026
Western Alliance Bancorporation (WAL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Western Alliance Bancorporation (WAL) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +31% from a year earlier and +4% from the quarter before. Operating margin was 22.7%, net earnings $182M (17.9% of revenue).
Western Alliance Bancorporation, Q1 2026: revenue $1.0B (+31% year over year), operating margin 22.7%, net earnings $182M, operating cash flow −$507M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +4% | +31% |
| Operating profit | $231M | -35% | -6% |
| Net earnings | $182M | -36% | -9% |
| Operating cash flow | −$507M | — | — |
What changed
Revenue was $1.0B in Q1 2026, up 31% year over year and up 4% from the previous quarter.
Operating profit was $0.23B, a 22.7% margin (down 9.0 points year over year). Operating profit fell $0.02B even though revenue rose $0.24B versus Q1 2025, so costs grew faster than sales. Total costs grew 48% against revenue growth of 31%. The fastest-growing cost line was Credit loss provision (+583%). Net earnings were $0.18B, down 9% year over year. The effective tax rate was 18.2%.
Operating cash flow was −$0.51B. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.73B.
Questions
What was Western Alliance Bancorporation's revenue in the first quarter 2026?
Western Alliance Bancorporation (WAL) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +31% from a year earlier and +4% from the quarter before.
Was Western Alliance Bancorporation profitable in the first quarter 2026?
Operating profit was $231M (22.7% of revenue) and net earnings $182M.