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# American Express Lifts 2026 EPS Guidance To $18.30-$18.60 After A One-Time Gain Flatters The Quarter
- URL: https://www.bullished.co/american-express-lifts-2026-eps-guidance-to-18-30-18-60-after-a-one-time-gain-flatters-the-8ae11d97/
- Published: 2026-10-23T11:05:46.000Z
- Updated: 2026-10-23T11:05:46.000Z
- Description: Reported third-quarter earnings per share rose 31%, but adjusted EPS grew 13% once a $982 million pre-tax stake-sale gain is stripped out.
- Author: Matteo Parrino
- Tags: Earnings, AXP, Industry: Financials

[American Express](https://www.bullished.co/tag/axp/) [raised its full-year 2026 earnings-per-share outlook](https://www.sec.gov/Archives/edgar/data/0000004962/000000496226000405/q326exhibit991.htm?ref=bullished.co) to $18.30 to $18.60, or $17.60 to $17.90 adjusted, after third-quarter revenue net of interest expense rose 9% to $20.1 billion. The headline 31% jump in quarterly EPS leans on a one-time gain from selling its Global Business Travel Group stake, which the company excludes from its 13% adjusted growth.

## Reported versus adjusted growth

American Express, which issues credit, charge and debit cards and runs a payments network, said in an [8-K filed Friday](https://www.sec.gov/Archives/edgar/data/0000004962/000000496226000405/axp-20261023.htm?ref=bullished.co) that net income rose 28% to $3.7 billion, or $5.42 a share, up 31% from $4.14 a year earlier.

Adjusted EPS was $4.68, up 13%. That strips out a $982 million pre-tax gain ($751 million after tax) on the previously announced sale of its Global Business Travel Group stake, net of a $336 million pre-tax restructuring charge tied to efficiency initiatives. Adjusted net income was $3.2 billion.

The adjusted guidance range of $17.60 to $17.90 excludes the same gain, net of the restructuring charge. CEO Stephen J. Squeri said the company is "on track to deliver another year of 10 percent revenue growth."

## Credit costs fell, taxes dropped

Provisions for credit losses fell to $1.0 billion from $1.3 billion a year earlier, because the company released reserves this quarter after building them in the prior-year period. Higher net write-offs partly offset that. The net write-off rate on principal losses was 1.8%, down from 1.9%.

The effective tax rate fell to 18.1% from 24.1%, mainly on discrete tax benefits from resolving prior-period tax items, the company said. Expenses rose 9% to $14.5 billion, driven by higher variable customer engagement costs from card spending and the U.S. Platinum Card refresh.

Billed business reached $454.0 billion, up 8%. Revenue growth came from higher card spending, net interest income and card fees.

## The stock and the call

AXP shares closed Thursday at $325.17, up 0.48%, before the results came out Friday.

American Express holds an investor call at 8:30 a.m. ET Friday to discuss the quarter and the raised outlook.

The company's 2026 guidance now carries two EPS ranges, and the gap between them is the Global Business Travel Group gain.

### Sources

- [8-K Filing — AMERICAN EXPRESS CO (AXP)](https://www.sec.gov/Archives/edgar/data/0000004962/000000496226000405/axp-20261023.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit q326exhibit991.htm — AMERICAN EXPRESS CO 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000004962/000000496226000405/q326exhibit991.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit q326exhibit992.htm — AMERICAN EXPRESS CO 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000004962/000000496226000405/q326exhibit992.htm?ref=bullished.co) — SEC EDGAR

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[All American Express (AXP) coverage →](https://www.bullished.co/tag/axp/)