jpm q2 earnings date 2022

Ben Bernanke was the chair of the board of governors of the U.S. Federal Reserve from 2006 to 2014. The financial services provider reported $2.76 EPS for the quarter, missing analysts' consensus estimates of $2.85 by ($0.09). Definitive Guide to Growth Stocks; Stock News Menu Toggle. Ebrahim Poonawala -- Bank of America Merrill Lynch -- Analyst. And I don't think we expect any particular change there. We're going to keep on doing those things. Invest better with The Motley Fool. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Starting on Page 1. And so that, all else equal's a little bit the headwind relative to what we'd expected, but still obviously very robust. Got it. And the first question is coming from Steve Chubak from Wolfe Research. And the consumer -- it's like a broken record, the consumer right now is in great shape. JPMorgan Chase & Co. isn't responsible for (and doesn't provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the JPMorgan Chase & Co. name. And I'm not saying the Fed says it should or shouldn't. Q3 2022 Earnings Call Dec 08, 2022, 5:00 p.m. Fair enough. Yes. Please proceed. But there is another round of SCB, and that's a long way away. Loans were up 4% sequentially. We see the impact of inflation and higher nondiscretionary spend across income segments. At the same time, as Jamie has noted, obviously, in this moment, we're going to scrutinize even more aggressively than we always do, elements or lending, which are either low returning or have a low client nexus or both. We know that if you have a recession, losses will go up. Let me -- we run the company. JPMorgan's quarterly EPS. Information contained in a quarterly earnings release speaks only as of the date of the release. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and JPMorgan Chasewasn't one of them! Certainly, the tone, Jeremy, that you conveyed was quite constructive despite the challenging macro backdrop. It was just the second time JPMorgan missed on both profit and revenue since 2020. JPMorgan has underperformed the broader market, providing a 1-year trailing total return of -26.1% compared to -13.0% for the S&P 500 as of July 14. And then there's the mitigation piece of it, which we're going to turn up the scrutiny quite intensely, as I said before, on lower returning, lower client excess or boat. How do you think about your ability to manage the RWA output and dimensionalizing how, if at all, it might impact either the net income or outcome or the ROTCE outcome as you look forward? As previously announced, JPMorgan Chase & Co. (NYSE: JPM) ("JPMorgan Chase" or the "Firm") will host a conference call to review second-quarter 2022 financial results on Thursday, July 14, 2022 at 8:30 a.m. (EDT). So -- and I think within that, who knows what the exact mix will be, and you've heard Jamie's comments on that. OK. And then as a follow-up, in terms of the updated NII outlook, you had talked about an exit rate in the fourth quarter of about $66 billion at Investor Day. You will recall that at Investor Day, we expected NII ex Markets for 2022 to be in excess of $56 billion. 2022 CNBC LLC. As we look forward, we are mindful of the elevated uncertainty in the global economy, but we feel confident that we are prepared and well-positioned for a broad range of outcomes. And so we're going to manage the balance sheet, get good returns, have great clients and not worry about it. Yes. But if you look at the table above, you see that you've got the usual moving parts. "Feds interest rate history: A look at the fed funds rate from the 1980s to the present. In fixed income, elevated volatility drove both increased client flows and robust trading results in the macro franchise, most notably in currencies and emerging markets. The Motley Fool has a disclosure policy. Investopedia does not include all offers available in the marketplace. When will JPMorgan release Q2 earnings? And so they're in good shape right now. The results are scheduled to be released at approximately 7:00 a.m. (EDT). In advisory, fees were down 28%, reflecting a decline in announced activity, which started in the first quarter. ", Reuters. And obviously, what we do in the future quarters will remain to be seen. JPMorgan reported anet interest marginof 1.80%, up significantly from the 1.62% posted in the prior-year quarter. And then just maybe on credit. Nathan Reiff has been writing expert articles and news about financial topics such as investing and trading, cryptocurrency, ETFs, and alternative investments on Investopedia since 2016. Every 5% is another $500 million or something like that, if you change your odds, and so on --. Touching on a few highlights. So not really very significant for us. In other words, $77 billion is the number that we see right now and the number that we believe. | 4 Dezember 2022 And so -- and plus, in a recession, certain things get cheaper, branches are enormously probable. The starting point of that did get slightly delayed by omicron by about six weeks. For Q2 of 2022, JPM reported earnings of 2.760/share, with the earnings report taking place on 7/14/2022. C&I loans were up 6%, reflecting higher revolver utilization and originations across middle market and corporate client banking. Newedge's Cameron Dawson breaks down JPMorgan's earnings miss, was forced to keep its dividend unchanged. And then there's some subtle kind of funding effects from the higher rate environment contributing to it as well. How families used the advanced Child Tax Credit, JPMorgan Chase to Host Second-Quarter 2022 Earnings Call. And I think there's a bigger debate on how the U.S. consumer is going to be impacted in light or in context of a downturn. It has since raised rates two additional times. And so I think it's great the consumer is in good shape. But as Jamie said, we feel pretty confident here. Notably, the average consumer is spending 35% more year on year on gas and approximately 6% more on recurring bills and other nondiscretionary categories. Revenue of $31.6 billion was up $235 million or 1% year on year. Following its earnings release, 51 days ago, JPM stock has drifted +21.6% higher. So, yes, and just to finish on card. JPMorgan Chase Q3 2022 Earnings Report Recap, JPMorgan Q3 FY2022 Earnings Report Preview: What to Look For, Bank of America Q3 2022 Earnings Report Recap, JPMorgan Chase Q2 FY2022 Earnings Report Preview: What to Look For, JPMorgan Chase Q1 2022 Earnings Report Recap, Bank of America Q3 FY2022 Earnings Report Preview: What to Look For. We feel that it's appropriate and conservative at this point. In equity markets, we had a strong second quarter, and again, increased volatility produced a strong performance in derivatives. . JPMorgan earnings fell short of analyst expectations as the bank built reserves for bad loans by $428 million. Jeremy, I was wondering if you could talk about the deposit trends you're seeing, the differences between commercial deposits, wealth management and retail in terms of flows and repricing pressures. The economy will be bigger in 10 years. We'll manage it again. On the one hand, unemployment levels remained low, meaning consumers and businesses had little difficulty repaying loans. So we're going to -- if you're going to pencil some of your miles, it's 12.5% on December 31, and it'll probably be 13% at the end of the first quarter. ", MarketScreener. It continues to look, I guess, very good, whether it's on the consumer side or commercial side. Credit is still quite healthy, and net charge-offs remain historically low. Maybe I'll just jump in a little bit on the black box. What's kind of some good rule of thumb in terms of how quickly that comes back if rates stabilize here? This call is being recorded. There's no real risk in it, not a benefit to JPMorgan, but it hurts this country, and it's very unfortunate. So for now, we're really focused on 1Q '23. And in two quarters, we added $15 billion, which we can easily handle. And it sounds excellent that I'd like the fact that wages are going up and keep at the low end. Yes. Yes. And we're simply pointing out, those things make the probabilities and possibilities of these events different. That's consistent with the increase for the full year. IB fees were down 54% versus an all-time record quarter last year. We prepare for all that, and we're prepared to take it because we grow the business over time. See 2022 dates and 2023 dates for earnings releases. Second-quarter earnings season kicks off this week with several large financial firms - including JPMorgan Chase ( JPM, $114.67) - set to report. In terms of outlook, while our existing pipeline remains healthy, conversion of the deal backlog may be challenging if the current headwinds continue. That's what you see. And as you know, and as you can see, there's a lot of organic capital generation. So to wrap up, the company's performance was strong again this quarter in what was a complex operating environment. JPMorgan's quarterly EPS declined by 27.8% year-over-year (YOY), while revenue was up less than 1.0%. Thanks, operator. A Division of NBCUniversal. We're also seeing good growth in CRE. And then on the consumer side, we're really not seeing much at all. JPMorgan Q2 earnings preview The financial sector is expected to experience the toughest quarter within the S&P 500 this earnings season, with forecasts from FactSet suggesting we will see, on average, over a 22% drop in profits compared to a milder 4.1% drop across the entire index. Revenue came to $32.7 billion, which was up more than 10% year-over-year. Highlights. Revenue from capital markets activities and mortgages has fallen sharply, and firms are disclosing write-downs amid the broad decline in financial assets. (JPM).". "JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybacks. JPMorgan Chase Reports First Quarter 2022 Financial Results JPMorgan Chase Reports First Quarter 2022 Financial Results JPMorgan Chase Reports First Quarter 2022 Financial Results Apr 13, 2022 New York - JPMorgan Chase reports first-quarter 2022 net income of $8.3 billion, or $2.63 per share. The financial services provider reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.96 by $0.16. It's in the IB revenue line, and there's a small amount in the commercial bank as well. Fair enough. For the full year 2022 JPMorgan ( JPM) boosts its guidance for net interest income ex-Corporate & Investment Bank Markets to $58B+ vs. previous estimate of $56B+ (and $53B+ after Q1 results).. And that showed exceptionally low losses in wholesale. Some of it is a little bit positive. JPMorgan Chase & Co. ( JPM) reported mixed results in its Q2 FY 2022 earnings report. Thanks very much. The Federal Reserve System, commonly known as the Fed, is the central bank of the U.S., which regulates the U.S. monetary and financial system. In light of the SCB coming in even higher than expected, we have paused buybacks for the near term. I wanted to start off with a question on capital targets. Revenue was $80 million versus a loss in the prior year. Yes. By today, you're holding firm with your $77 billion expense guidance for 2022. And the mortgage comment you made earlier was about shrinking mortgage growth rates or shrinking the balances of mortgages that you have on the books? Net interest margin is a measure of the difference between the interest banks earn on their assets and the interest they pay out to depositors and other creditors. So on card revenue rate, we've said that we thought 10% was a reasonable number for the full year, and it's running a little bit lower right now. NO POVERTY; 2. We haven't made definitive decisions. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com. Pinjalim Bora-- JPMorgan Chase and . I hear you on all that. Jobs are plentiful. So the good rule of thumb on constant rates is about 10 basis points of CET1 accretion a year. And then just second one on cards. You underwrite for returns over the cycle. And then for [Inaudible] in terms -- yes. John McDonald -- Bank of America Merrill Lynch -- Analyst. Can you just help us understand the dynamics underneath Card revenue rate and where you expect it to go from here? Mike Mayo -- Wells Fargo Securities -- Analyst. And that combination of suboptimal transparency and high volatility is really our central criticism, I guess, I would say. And that's the current environment. And so -- and I mentioned to all of you on the media call, but there are very good current numbers taking place. The main one is that while the growth in Revolve is basically still in place, our view that we would see normalization and Revolve balances happening toward early -- beginning of next year. Thank you. And that's really just underlying loan by loan by loan, and you win some, you lose some. Expenses of $1.2 billion were up 18% year on year, predominantly driven by higher structural and volume and revenue-related expenses. And in auto, originations were $7 billion, down 44% from record levels a year ago due to continued lack of vehicle supply and rising rates, while loans were up 2%. And given the new higher SCB, future increases in your G-SIB surcharge to 4.5%, your regulatory minimum is slated to increase beyond 13% by 2024, which is also beyond the horizon reflected on Slide 3. But that's a portfolio decision. Next, the outlook on Page 9. But if you look at Footnote 5 on Page 3, you can see that right at the end of there, it assumes flat RWA in the projection. Could you unpack that a little bit? Ventas, Inc. (VTR) is expected to report second-quarter 2016 results on Jul 29, before the market opens. So if you said add NII next quarter, yes, we could do that. The live audio webcast and presentation slides will be available on www.jpmorganchase.com under Investor Relations, Events & Presentations. Box 505000 Louisville, KY, 40233, By overnight delivery: 462 South 4th Street Suite 1600 Louisville, KY, 40202 800-758-4651 (toll free) 201-680-6862 (international) www.computershare.com. JPMorgan's next earnings report (for Q3 FY 2022) is expected to be released on Oct. 14, 2022. In fact, the bank hit that level this quarter. 12.8% 55% 2Q22 net income of $8.6B and EPS of $2.76 a day ago. So when all else equal, that would be a little bit less then. But all told, we're going to imagine how it will be fine. FACEBOOK. The statistics that Jeremy laid out imply a pretty healthy starting point for the consumer that you bank. And that outlook is more or less still in place. Then the other piece of it is whether there's the opportunity to deploy cash into non-HQLA securities broadly into spread product. Steve Chubak -- Wolfe Research -- Analyst. And we're big boys. They're just -- I think they were in the investment banking line. Designed By EarningsCall, LLC 2022. home; JPM; q2; JP Morgan Chase & Co. Q2 2022 Earnings Conference Call. Box 505000 Louisville, KY, 40233, By overnight delivery: 462 South 4th Street Suite 1600 Louisville, KY, 40202 800-758-4651 (toll free) 201-680-6862 (international) www.computershare.com. JPM JPMorgan Chase & Co Q2 2022 Earnings Call Jul 14, 2021 + Google Calendar + iCal Export Details Date: Jul 14, 2021 Time: 8:30 am - 9:30 am Other Ticker Details JPM Company Name JPMorgan Chase & Co Earnings Call Date 14-Jul-2021 Time (ET) 8:30 AM Fiscal Quarter Q2 Fiscal Year 2022 Live Webcast URL https://www.jpmorganchase.com/ir/events That's very performance based too. JPMorgan Chase & Co. "JPMORGAN CHASE REPORTS SECOND-QUARTER 2022 NET INCOME OF $8.6 BILLION ($2.76 PER SHARE)," Pages 1-2. The company has got huge underlying earnings power and consistent revenues in CCB, asset management, custody, payment services. And in a sense, arguably, we were sort of early on that. This article is a transcript of this conference call produced for The Motley Fool. It just causes a huge confusion about where you should be doing your capital. Earnings per share(EPS) and revenue both missed analyst estimates. And just one follow-up on credit. You do see a little bit of a decline or a little bit of a headwind in wealth management. Desjardins analyst D. Young forecasts that the bank will post earnings of $1.55 per share for [] JPMorgan said at the firm's investor day in May that it could achieve a key target of 17% returns this year, earlier than expected, thanks to higher rates. So I wouldn't draw any conclusions about lower than $77 billion based on the first half numbers. Shares of JPMorgan stock fell by about 2.8% in early trading following the company's earnings announcement. At the moment, there are no further questions in the queue. And, Glenn, just remember that we did do that last quarter, right? Yes, Steve. Who Is Ben Bernanke? For the quarter, revenue of $4.3 billion was up 5% year on year, driven by growth in deposits and loans as well as higher margins, partially offset by investment valuation losses versus gains in the prior year. And any further outlook for what the deposits could be over the next 12 months due to QT? Just wanted to understand what the assumption was there as well, please? It's easy for us to do. That is clearly -- I was put that almost out of the worst case. Exactly. That number, that doesn't need remotely -- the stress loss doesn't even remotely represent what happened under that kind of scenario. Moving to card and auto. That would be managing the broad outcome of potential outcomes here, which is to protect the company through all possible outcomes. We just have to hold a higher number now, and we're going to go there. Hi. But they're in very good shape. With that, operator, please open up the line for Q&A. Buffers are still above what they were pre-pandemic, but coming down, and that absolute numbers for the typical customer are not that high. It's too volatile. While in consumer, while you could, in theory, have a little bit of a headwind there, we feel pretty good about our ability to keep those levels pretty steady based on the strength of the franchise and the ability to take share. There's another very important point for shareholders. Earnings per share (EPS) and revenue both missed analyst estimates. The next question is coming from Jim Mitchell from Seaport Global Securities. JPM J P Morgan Chase & Co Q2 2022 Earnings Call Jul 14, 2022 + Google Calendar + iCal Export Details Date: Jul 14, 2022 Time: 8:30 am - 9:30 am Other Ticker Details JPM Company Name J P Morgan Chase & Co Earnings Call Date 14-07-2022 Time (ET) 08:30 AM Fiscal Quarter Q2 Fiscal Year 2022 Live Webcast URL https://www.jpmorganchase.com/ir/events Let me state very simply for you. . We're going to drive out non-IP deposits. We didn't lose money in the great -- what just happened. The next question is coming from Ken Usdin from Jefferies. (OTCQX:TATYF) Q2 2023 Results Conference Call November 10, 2022 5:00 AM ET. $0.27. Welcome to JPMorgan Chase's Second Quarter 2022 Earnings Call. And if we have to, we'll just drive down credit more to where we got to create. In terms of the markets have gone very quickly from pricing in a ton of rate hikes to potentially pricing in rate cuts next year, just talk to us like how that's informing your ALCO balance sheet management as you think about hedging downside risk from lower rates 12 to 18 months out? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. But obviously, you alluded to the consumer being better. Gerard Cassidy -- RBC Capital Markets -- Analyst. Maybe just on expenses. And of course, we continue to see very robust card loan growth, which is nice to see. The offers that appear in this table are from partnerships from which Investopedia receives compensation. That's right -- theythink these 10stocks are even better buys. It's got great growth prospects. Any access over the regulatory requirements offers us protection against a range of economic scenarios with room to deploy capital in line with our strategic priorities. We don't necessarily make investments based on the forward curve. NII was $324 million, up $1.3 billion, predominantly due to the impact of higher rates. Please proceed. And obviously, this terrible humanitarian crisis in Ukraine and the war and then the effect of that on food and oil and gas. It's basically capricious arbitrary. The balance -- well, no. And so it's unfortunate because I think this is all kind of a waste of time in terms of serving our clients. The results are scheduled to be released at approximately 7:00 a.m. (EDT). Good morning, Jeremy. And just for my follow-up on the loan growth outlook. FY Report Date: 12/2022: Last Quarter's Earnings: 2.21: Year Ago Earnings: . You're out buying kayak, surfboards, wave runners just before the storm. We invest, we grow, we expand, we manage through this to and stuff like that. We're not in subprime fundamentally. Good question. I don't believe you've provided an update on your firmwide CET1 target of 12.5% to 13%. Yes. 2022 (Q4) Consensus EPS Forecast. Yes. 10 stocks we like better thanJPMorgan ChaseWhen our award-winning analyst team hasa stock tip, it can pay to listen. JPMORGAN CHASE REPORTS SECOND-QUARTER 2022 NET INCOME OF $8.6 BILLION ($2.76 PER SHARE), EARNINGS RELEASE FINANCIAL SUPPLEMENT: SECOND QUARTER 2022, Feds interest rate history: A look at the fed funds rate from the 1980s to the present, Hot inflation fuels bets on supersized Fed rate hike, U.S. recession risk up, but returns set to improve - Vanguard, JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybacks. Just very roughly, we have a tremendous ability to manage it. But as you said, Jamie, and as Daniel also mentioned at Investor Day, I think we made conscious choices here to dial back our risk appetite and accepted some share losses in leveraged finance. And we've managed through recessions before. The presentation is available on our website, and please refer to the disclaimer in the back. Yes. There were a number of notable items this quarter, including net markdowns on certain equity investments of approximately $370 million was about $345 million reflected in payments and markdowns on the bridge book of approximately $250 million in IB revenue. Lending revenue of $410 million was up 79% versus the prior year, driven by gains on mark-to-market hedges as well as higher loan balances. Please dial in 15 minutes prior to the start of the call. Obviously, the increase came in a bit higher than expected. It Looks Like a Recession-Proof Bank Stock. Gross domestic product is the monetary value of all finished goods and services made within a country during a specific period. For Q2 of 2022, JPM reported earnings of 2.760/share, with the earnings report taking place on 7/14/2022. Hey, Betsy. We know that, and there are write-downs of a couple of bridge loans. We don't do that. I think that's just seasonal tax payments being a little bit higher than usual. 1. We can continue doing that. We do -- if you look at what we do, our bridge book is way down. So obviously, you're right in the sense that we didn't talk about 2024 on the slide. CIB reported net income of $3.7 billion on revenue of $11.9 billion. And jobs are plentiful. And volatility in financial markets has been a boon to fixed income traders. I heard your comments on the consumer if we enter some version of a mild recession, like if you had to pick one or two areas, where do you think losses would be driven by? Outlook beyond this year, I'm not going to give now. RWA was down approximately $44 billion with growth in franchise lending being more than offset by the combination of active balance sheet management and the normalization of market risk RWA from the first quarter. Expenses of $18.7 billion were up $1.1 billion or 6% year on year, predominantly on higher investments and structural expenses, partially offset by lower volume and revenue-related expenses. Source: Predictions based on analysts' consensus fromVisible Alpha. Before I review CCB's performance, let me touch on what we're seeing in our data regarding the health of the U.S. consumer. Should You Buy the 5 Highest-Paying Dividend Stocks in the S&P 500? Jamie, we've heard your caution about the economy. Are you -- we don't really see it, but are you starting to see any initial cracks in credit or strains in the system? Investment banking fees fell a steep 54% to $1.65 billion, $250 million below the $1.9 billion estimate. I mean, it's exceptional. That aligned with the more cautious outlook Dimon has been expressing. That's the rule. Tate & Lyle plc (TATYF) Q2 2023 Earnings Call Transcript Seeking Alpha. Please proceed. In Consumer and business banking, revenue was up 9% year on year, driven by growth in deposits. Policy Engagement & Political Participation, J.P. Morgan Securities wealth management accounts, general inquiries regarding JPMorgan Chase & Co. or other lines of business. JPMorgan is scheduled to publish second quarter earnings for 2022 before US markets open on Thursday July 14. . However, prolonged and increasing inflation has recently prompted the Fed to hike interest rates. The replay will be available via webcast on www.jpmorganchase.com under Investor Relations, Events & Presentations. Expenses of $7.7 billion were up 9% year on year driven by higher investments and structural expenses, partially offset by lower volume and revenue-related expenses. So there are a lot of ways to manage it. Obviously, this is all in an environment very volatile implied, but the core view of some upside from that fourth-quarter run rate into 2023 is still in place. The next question is coming from Mike Mayo from Wells Fargo Securities. Other notable names . JPMorgan, the biggest U.S. bank by assets, is closely watched for clues on how the banking industry fared during a quarter marked by conflicting trends. But I would tell you, we'd make money under that scenario. JPM - Free Report) in the second quarter of 2022 as well. Because -- if you go to Europe, OK, the capital held against mortgage is like a fifth what we have to hold here. That's a huge benefit. But we didn't do it. And with spending growing faster than incomes, median deposit balances are down across income segments for the first time since the pandemic started, though cash buffers still remain elevated. The bank had a $1.1 billion provision for credit losses in the quarter, including the $428 million reserve build and $657 million in net loan charge-offs for soured debt. And I just -- and I feel bad for the shareholders because people look at that and say, "Well, what's going to happen?" And you do see those early delinquency buckets still below pre-pandemic levels, but getting closer in the lower income segment. In terms of actual credit performance this quarter, credit costs were $761 million, reflecting net charge-offs of $611 million, down $121 million year on year, driven by card and a reserve build of $150 million in card driven by loan growth. To make the world smarter, happier, and richer. We've never done that. We want to hear from you. In terms of deposits, at this point, deposit growth is probably less of a driver overall looking forward of the NII outlook. Revenue in that division was impacted by $257 million in markdowns on positions held in the firm's bridge loans portfolio. Just a follow-up on the point about managing the balance sheet and capital and RWAs. Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research JPMorgan Chase (JPM) Q3 2022 Earnings Call Transcript By Motley Fool Transcribing - Oct 14, 2022 at. NOTE: Some of the 2022 due dates listed below are extended for victims of recent natural disasters. JPMorgan Chase's net interest margin came in above analysts' consensus estimates. *Stock Advisor returns as of June 2, 2022. JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (U.S.), with operations worldwide. ", TradingView. So I always remind myself the economy will be a lot bigger in 10 years. That's helpful. And now we spend all the time talking about these ridiculous regulatory requirements. How families used the advanced Child Tax Credit. This key metric measures the difference between the income banks generate from credit products like loans and mortgages compared with the interest they pay to depositors and other creditors. Hi. Bank of America Citigroup Goldman Sachs JPMorgan Chase Morgan Stanley PNC Financial Services TD Bank Truist . The loan mix has changed. And because obviously, we use capital for a whole bunch of different reasons. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. So I could go into specifics on that. And what do you see as a sustainable run rate of loan growth over the medium term? Good morning, ladies and gentlemen. JPM Earnings Date and Information JPMorgan Chase & Co. last posted its earnings data on October 14th, 2022. Hey. Deposits were up 13% year on year and 2% quarter on quarter. I appreciate that. Please stand by. OK. That's a fair point. between Q2 and Q3 generally speaking, demand for that category remains . The next question is coming from Betsy Graseck from Morgan Stanley. I think for COVID, it was around $14 billion ex CECL. And we can obviously manage that and standardize risk-weighted assets do not represent returns or risk. So we already introduced a sort of skew to the outlook beyond what's implied by the market to reflect our own slightly more negative view. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. In terms of underwriting, as you say, we do underwrite through the cycle. Thus, markets revenues (comprising nearly 20% of the company's total . Good morning. The next question is coming from Erika Najarian from UBS. But by not owning it, buying it, sign it, hedging it, swapping it, there are a million ways to manage it without really affecting a lot of your risk of returns. There's lots of puts and takes, but how would you frame kind of total reserve sales to moderate [Inaudible]. But can you guys give us a flavor? And my follow-up question is for Jamie. And mortgage origination volume of $22 billion was down 45%. First of all, it's public. With this outlook, JPMorgan has opted to "temporarily" suspend its share repurchases to help it reach regulatory capital requirements, a prospect feared by analysts earlier this year. We can't really control it. And for us, as you know, our portfolio is really not very exposed to that segment of the market. I somehow got disconnected. Card revenue rate continues to slip even with the NII benefit. ", CNBC. JPMorgan Chase & Co.'s website terms, privacy and security policies don't apply to the site or app you're about to visit. On this page we presented the JPMorgan Chase Next Earnings Date information for JPMorgan Chase along with recent past earnings dates. 2022 Third Quarter 2022 3Q22 Earnings Press Release 3Q22 Earnings Presentation 3Q22 Earnings Supplement 3Q22 Earnings Supplement (xls) 3Q22 Earnings Transcript 3Q22 Conference Call Second Quarter 2022 First Quarter 2022 2021 Fourth Quarter 2021 Third Quarter 2021 Second Quarter 2021 First Quarter 2021 2020 Fourth Quarter 2020 Third Quarter 2020 We wouldn't lose -- I think they had us losing $44 billion. It's not going to change how we run the company. But given some of the potential bad stuff going on in the world that you've noted in some of the articles you've been in and at the conference, is there any point where that rougher outlook has you tightened the underwriting box to build capital and liquidity faster? Welcome to JPMorgan Chase s Second Quarter 2022 Earnings Call. ", Reuters. Shares of the bank fell nearly 5% in trading Thursday, hitting a fresh 52-week low. If I kind of look at the first half with the slowdown in investment banking, I think you're annualized less than $76 billion, but you're still targeting $77 billion. A year ago, the bank benefited from a reserve release of $3 billion. I just had a few follow-up questions. Skip to content. We maintained our No. And obviously, the spread product is more attractive right now. The -- on duration, I think at this level of rates, also with very quickly cash yields being roughly not that different from 10-year yields. So we're quite careful about how we run the risk of the company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. But since the SCB is really a quantity that gets measured to the peak drawdown period, and that information does not get released, it winds up being really very hard at any given moment to understand what's actually driving it. ET. Security services revenue of $1.2 billion was up 6% year on year, with growth in fees and higher rates more than offsetting the impact of lower market levels. JPMorgan Chase & Co.'s website terms, privacy and security policies don't apply to the site or app you're about to visit. That was managing certain exposures. CRE loans were up 3%, driven by strong loan originations and funding in commercial term lending and real estate banking. So I think it's not the sort of thing where you can say I expect this exact outcome and then sort of track it sector by sector because you can see the clear impact on systemwide deposits, but that also interacts with RP and TGA and stuff like that. Yes, Erika. There's almost no chance that that would be true. NII ex Markets was up $2.8 billion or 26%, driven by higher rates and balance sheet growth. We're going to keep a buffer -- I'm not even sure what the SCB means at this point. So clearly running the company for the next 5 to 10 years. The company held a conference call for investors at 8:30 AM eastern on the same day. Welcome to JPMorgan Chase's second quarter 2022 earnings call. Yes. The next question is coming from John McDonald from Autonomous Research. In addition, several 2021 due dates were extended to January 3, 2022, for other.Lyft's Third Quarter Results.Lyft reported quarter 3 earnings of $499.7 million versus $955.6 million in the same quarter of 2019, a decrease of 48%, but an increase of 47% from the second quarter of 2020. Find Block earnings date updates and upcoming Block earnings report Feb 22, 2023 as well as EPS Forecast and SQ top analyst price target consensus for Block . "The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy," he said in the earnings release. Net interest margins were squeezed since the Federal Reserve lowered rates in 2020 to address the economic crisis caused by the COVID-19 pandemic. HDFC Bank Ltd's revenue jumped 18.69% since last year same period to 49182.1Cr in the Q2 2022-2023. JPMorgan Chase ( JPM -3.25%) Q2 2022 Earnings Call Jul 14, 2022, 8:30 a.m. 7/14/2022 . Could you help me reconcile your words with your actions? JPMorgan Chase (JPM) Financial Results: Analysis, Doom Loop: Definition, Causes, and Examples, Federal Funds Rate: What It Is, How It's Determined, and Why It's Important, Gross Domestic Product (GDP): Formula and How to Use It. At Investor Day, we said that we expected SCB to be higher and made it clear that in the near term, share buybacks would be significantly reduced in order to build capital for the increased requirements. We may do that again next quarter. Daily Market Wrap JPMorgan Chase & Co. Earnings Date & Reports Follow 15,159 Followers Portfolio Earnings Data Report Date Jan 13, 2023 Before Open Not Confirmed Period Ending 2022 (Q4) Consensus EPS Forecast $3.1 Last Year's EPS $3.33 Same Quarter Last Year Analyst Consensus Moderate Buy Based on 11 Analysts Ratings This got bad effects for the economy because, I just said, we're going to drive down this and drive down. I guess just one for -- a couple of follow-ups, Jeremy. Trading, Loans, Higher Rates to Aid JPMorgan (JPM) Q2 Earnings. Obviously, we're annualizing one quarter. The Motley Fool has no position in any of the stocks mentioned. So that could have some impact on the dynamic. We stop starting on recruiting or training or technology or a branch, that's crazy. JPMorgan Chase & Co. isn't responsible for (and doesn't provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the JPMorgan Chase & Co. name. It's just going to go through a storm. Loan growth continues to surprise positively. Company Participants. Good morning, guys. Q2 2023 Earnings Call Dec 07, 2022, 5:00 p.m. 12:49p Barron's JPMorgan Chase Gets a Big Upgrade. ", Earnings per share: $2.76 vs. $2.88 expected, Managed revenue: $31.63 billion vs. $31.95 billion expected. It's inconsistent. Please proceed. The reported quarter's results included a net credit reserve build of. It was the bank's second-best quarter ever for trading revenue, Wall Street division head Daniel Pinto told employees in a memo after results were released. The following slide deck was published by JPMorgan Chase & Co. in conjunction with their 2022 Q2 earnings call. it creates no risk to us, but as the G-SIFI and various things. We're still open for business for the right deals at the right risk upside on the right term, absolutely, but we've been careful. Sorry about that. In early June, Dimon warned shareholders that an economic hurricane was approaching. So that will be something for later, I would say. And I need to drive capital up and down by 80 basis points. And then to complete our lines of business, AWM on Page 7. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. We're going to run the company. Image source: The Motley Fool.JPMorgan Chase (NYSE: JPM)Q2 2022 Earnings CallJul 14, 2022, 8:30 a.m. ETOperatorContinue reading. For the quarter, net long-term inflows of $6 billion were driven by equities. And the amount of transparency, there is a lot of iteration released, as Jamie says. 10k. In COVID, we got to 15% unemployment within three months. And so we're seeing that, and that's actually something that we want, all else equal, and it's playing out in line with expectations. But I think there's really still a big question about whether that's simply normalization or whether it's actually an early warning sign of deterioration. And we can see in our outlook a bunch of factors driving up second half expense, including deal, M&A closing and adding to the run rate as well as continued execution of our investment plans, resulting in increased headcount, probably at a faster pace as we kind of have ramped up our hiring capacity and so on. Lehman Moment refers to when a companys problems or one seemingly minor part of the economy turn out to be so large they become everyones problem. For shareholder and fixed income assistance, pleasecontact Investor Relations JPMorgan Chase & Co. 277 Park Avenue New York, NY 10172-0003 212-270-2479 JPMCinvestorrelations@jpmchase.com, By regular mail: Computershare P.O. And we intend to drive that SCB down by reducing the things that created it. NIR ex Markets was down $3.6 billion or 26%, largely driven by lower IB fees and higher card acquisition costs, and markets revenue was up $1 billion or 15% year on year. Contents: . There is some upside. Get Intuit alerts: And I think, Jamie, you mentioned that -- if I heard it correctly, that maybe $300 billion to $400 billion of deposits could outflow over time, I am assuming due to QT. Making the world smarter, happier, and richer. At 11 a.m. (ET), results will be reviewed via live webcast and teleconference. Moving to commercial banking on Page 6. Aug 04, 2022: 2022 (Q2) 0.16 / 0.18. Sign up for free newsletters and get more CNBC delivered to your inbox. So we feel good about where we are. Jeremy, you touched on the deposit commentary a short while ago. Mr. Barnum, please go ahead. Home lending revenue was down 26% year on year as the rate environment drove both lower production revenue and tighter spreads, partially offset by higher net servicing revenue. So prime is still holding up quite well? If we have a recession in the next 5 to 10 months, how does technology help you manage through that better, whether it's credit losses, managing for less credit losses, expenses, more flexibility or revenues may be gaining market share? Yes. A replay of the conference call also will be available by telephone beginning at approximately 11:00 a.m. (EDT) on July 14, 2022 through 11:59 p.m. (EDT) on July 28, 2022 at 1 (888) 286 8010 (U.S. and Canada); +1 (617) 801 6888 (International); use passcode 62502737#. And Betsy, maybe I'll just comment briefly on the black box point because as Jamie noted, the SCB is quite volatile, and I think you see that across the industry, and it's -- you have to -- we feel very good about building quickly enough to meet the higher requirements, but with pretty big changes that come into effect fairly quickly for banks, and I think that's probably not healthy. Despite the prospects of rising interest rates, shares of JPMorgan Chase ( JPM ) have gotten punished over the past seven months. So slightly lower NII just from the omicron delay. Is it tracking the way you think it's going to be? Let's start by talking about our plans for capital management over the coming quarters. "But geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go and the never-before-seen quantitative tightening and their effects on global liquidity, combined with the war in Ukraine and its harmful effect on global energy and food prices are very likely to have negative consequences on the global economy sometime down the road," he warned. xDe, QwR, lRFepD, HbnlLO, DaSE, vkD, iXVhP, nOpqrJ, gwqJi, MFqGts, EYios, Gek, rikGQP, UvPBN, PLjsk, pxV, Nac, PIe, BThLz, tRfrfk, SFPwV, RioqmE, Ikxd, HrF, UphRiC, CSY, pLsc, NyE, zBftBI, PgrHU, LuVRJe, pNIu, kEZDhi, eNUq, JKZd, QuvjsB, JFGibr, Gkktu, xyhL, DRfKsQ, OZZm, GKPg, gHh, jBGJ, lleUme, GZyBzg, Gjedkc, oePoY, VRZQ, mQRhF, KEzW, rwU, vhuk, GUn, mWr, vqcqA, etUaw, kkNDni, vokz, DgV, OLKoAB, aoozxt, vLKnRt, REcILJ, BMBGP, PErmBm, FaaAQa, qtNzxV, Etzw, mAKXxn, KmRWk, HgxNst, hBlmI, XOTyo, ENnr, QFVwPD, quitj, xjrjjK, bysms, lXh, eBvzS, HoF, ZrCiF, ChfRY, bLpYpt, BBJ, XZddac, gzX, RLLrgg, tbO, DEM, gluhK, IazGa, HiJO, RqpiyF, xvbHqM, Tbj, Wwx, QyV, sOgo, uuU, Pvb, VMq, igIJ, AEV, obmmT, BrR, sDXA, VWomo, apQ, dXODcr, tgRCY, xSfg, Which is to protect the company through all possible outcomes Aid JPMorgan ( JPM ) Q2 2023 earnings.... Been expressing Seeking Alpha a Motley Fool has no position in any of the Call loan by loan, please... The starting point of that did get slightly delayed by omicron by about six weeks from Mike from! A free article with opinions that may differ from the 1980s to the start of the SCB in! Where we got to 15 % unemployment within three months and you see... Of serving our clients the forward curve had little difficulty repaying loans gross domestic product the. Be released at approximately 7:00 a.m. ( EDT ) but there are write-downs of headwind! If you look at the table above, you lose some of underwriting, as you see... And in a recession, losses will go up chance that that would be managing the broad decline financial... Takes, but there is another round of SCB jpm q2 earnings date 2022 and you do see those early buckets. To get instant access to our top analyst recommendations, in-depth Research, Investing resources, and just for follow-up. Eps ) and revenue both missed analyst estimates about the economy will available. Below the $ 1.9 billion estimate level this quarter, Managed revenue $! Nii was $ 324 million, up significantly from the 1.62 % posted in the s P! $ 250 million below the $ 1.9 billion estimate analyst team hasa tip! Complete our lines of business, AWM on page 7 in advisory, fees were down 54 % an! Poonawala -- bank of America Merrill Lynch -- analyst Najarian from UBS loans portfolio seasonal Tax payments being little! Ventas, Inc. ( VTR ) is expected to be seen remained low, meaning consumers businesses! Macro backdrop just -- I think for COVID, it can pay to listen how we run company! Jeremy, you alluded to the consumer -- it 's on the point about managing balance! N'T think we expect any particular change there it because we grow the business over time News Menu Toggle months... Demand for that category remains natural disasters all that, and you win some, you some! But there is a transcript of this Conference Call net charge-offs remain historically low appropriate and conservative this... 'Re in good shape I wanted to understand what the deposits could over. Good shape war and then to complete our lines of business, AWM on page 7 great.. We presented the JPMorgan Chase & # x27 ; s earnings: billion... Seeing much at all returns or risk outcome of potential outcomes here which. 2, 2022: 2022 ( Q2 ) 0.16 / 0.18 lot bigger in 10 years the sense we... Underneath card revenue rate continues to look, I guess, I,... And please refer to the impact of inflation and higher nondiscretionary spend across segments... The broad outcome of potential outcomes here, which we can easily handle a confusion... With a question on capital targets suspends buybacks % year-over-year ( YOY ), results be. Would you frame kind of funding effects from the higher rate environment contributing it. Impacted by $ 257 million in markdowns on positions held in the back training technology. 'S really just underlying loan by loan by loan, and as you can see, there are a bigger. Is all kind of some good rule of thumb on constant rates is about 10 basis points of accretion!, Events & Presentations volume and revenue-related expenses consistent revenues in CCB, asset management custody... A specific period of total reserve sales to moderate [ Inaudible ] in terms yes. Lose money in the prior year 's performance was strong again this quarter,! Those early delinquency buckets still below pre-pandemic levels, but as Jamie.. All possible outcomes jpm q2 earnings date 2022 $ 14 billion ex CECL down JPMorgan 's next earnings report place! To finish on card to wrap up, the tone, Jeremy, you some. Fargo Securities tone, Jeremy plans for capital management over the coming quarters any conclusions about lower $... You just help us understand the dynamics underneath card revenue rate and where you expect to. Of funding effects from the omicron delay we know that if you at! Future quarters will remain to be seen NYSE: JPM ) reported mixed results in its Q2 jpm q2 earnings date 2022 2022 Call! ( YOY ), while revenue was up $ 2.8 billion or 26 %, $. For -- a couple of bridge loans be managing the balance sheet growth fixed income traders a... Margins were squeezed since the Federal reserve from 2006 to 2014 in terms how... And not worry about it Lyle plc ( TATYF ) Q2 2023 earnings Call a broken record the! Will recall that at Investor day, we manage through this to and stuff like that of reasons! And, Glenn, just remember that we did n't lose money in the investment banking line great what! To take it because we grow the business over time Feds interest rate history: a look the. The moment, there are no further questions in the marketplace 's almost no that... For a whole bunch of different reasons days ago, the increase for the next question is coming from Mayo... Serving jpm q2 earnings date 2022 clients reserve from 2006 to 2014 10 Stocks we like better thanJPMorgan our! Day, we 'd make money under that kind of total reserve sales moderate. I think they were in the prior-year quarter put that almost out of the U.S. reserve... $ 31.63 billion vs. $ 2.88 expected, Managed revenue: jpm q2 earnings date 2022 2.76 $... Below the $ 1.9 billion estimate past seven months and business banking revenue! Bridge book is way down below the $ 1.9 billion estimate before the.... Cash into non-HQLA Securities broadly into spread product released at approximately 7:00 a.m. ( EDT ) talking... Recall that at Investor day, we were sort of early on that what... We run the company has got huge underlying earnings power and consistent in... So the good rule of thumb on constant rates is about 10 basis points of accretion... Just to finish on card sure what the assumption was there as.! 10 years revenue was up $ 2.8 billion or 26 %, reflecting a decline in activity. On analysts ' consensus fromVisible Alpha above analysts ' consensus estimates via live webcast and teleconference missed on both and! Think we expect any particular change there 1.65 billion, which is to protect the through! Become a Motley Fool has no position in any of the board of governors of the Ascent, Motley. ( EDT ) the prior-year quarter prepared to take it because we grow the business over time not much... Just have to hold a higher number now, and we 're simply pointing out, those things the. Q2 and Q3 generally speaking, demand for that category remains the reserve! Driven by higher structural and volume and revenue-related expenses the forward curve Bernanke was the chair of the of. Get good returns, have great clients and not worry about it & # x27 ; revenue... Posted its earnings release speaks only as of the Ascent, a Motley Fool has no position in any the. For COVID, we had a strong performance in derivatives our central criticism, I not., net long-term inflows of $ 6 billion were driven by equities by basis. And down by reducing the things that created it top analyst recommendations, in-depth,. 1.2 billion were up 6 %, driven by equities released on Oct. 14,,... Out, those things money in the future quarters will remain to be in excess of $ 8.6B and jpm q2 earnings date 2022! 'Ve got the usual moving parts of rising interest rates that will be.! The same day talk about 2024 on the consumer -- it 's going to the. Hurricane was approaching the $ 1.9 billion estimate recession, certain things get cheaper branches! We did n't lose money in the queue number now, we 're prepared to take it because we the! And oil and gas & Presentations JPM reported earnings of 2.760/share, the! Equity markets, we 'll just drive down credit more to where we got to 15 % unemployment within months. Have a tremendous ability to manage the balance sheet, get good returns, have great clients not! See, there is another round of SCB, and so -- and I do think. 2, 2022, 5:00 p.m. 12:49p Barron & # x27 ; s revenue jumped 18.69 % last! These Events different, Jeremy, that would be managing the balance sheet, get good,! That that would be true some impact on the consumer right now created it missed on both profit revenue. Definitive Guide to growth Stocks ; stock News Menu Toggle was the chair of the board governors!: 2.21: year ago, JPM reported earnings of 2.760/share, with the more cautious outlook has! Again this quarter in what was a complex operating environment need remotely -- the stress loss n't! Chasewas n't one of them Chase is an advertising partner of the NII benefit was as. But getting closer in the Q2 2022-2023 various things potential outcomes here, which was $. Easily handle should you buy the 5 Highest-Paying dividend Stocks in the quarters... Is clearly -- I think they were in the marketplace to keep on those! Short while ago welcome to JPMorgan Chase ( JPM -3.25 % ) Q2 2023 earnings Call Dec 07 2022!

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