American Express Company reported strong second-quarter 2026 results and raised its full-year 2026 revenue growth guidance to 10%. Q2 total revenues net of interest expense were $19.6 billion, up 10% year-over-year, driven by higher Card Member spending, increased net interest income and strong card fee growth. Net income was $3.1 billion, with diluted EPS of $4.53, up 11% from $4.08 a year earlier.
Provisions for credit losses fell to $1.1 billion from $1.4 billion, reflecting a reserve release, while the net write-off rate on consumer and small business principal balances held at 2.0%. Consolidated expenses rose 12% to $14.5 billion, mainly from higher rewards, benefits usage and operating costs, and the effective tax rate increased to 23.6% from 18.7%. Billed business reached $455.8 billion, network volumes were $516.8 billion, and return on average equity was a high 36.4%. The company also highlighted strategic initiatives, including the proposed acquisition of TheFork, new partnerships with Fanatics and Accor, expanded travel and Membership Rewards benefits, and the pilot of a new expense management platform.
American Express Company provides updated credit metrics for its U.S. Consumer and U.S. Small Business card portfolios for the months ended April 30, May 31 and June 30, 2026 and the three months ended June 30, 2026. Card balances classified as held for sale are excluded. U.S. Consumer total card balances held for investment were $113.8 billion at June 30, 2026, with 30‑days‑past‑due loans at 1.1% of balances and a principal‑only net write‑off rate of 1.4% for June and 1.8% for the three‑month period.
U.S. Small Business card balances totaled $45.9 billion at June 30, 2026, with 30‑days‑past‑due loans at 1.4% and a June net write‑off rate of 2.3%. Combined U.S. Consumer and U.S. Small Business card balances held for investment were $159.7 billion at June 30, 2026. The American Express Credit Account Master Trust reported an ending principal balance of $25.2 billion, an annualized default rate, net of recoveries, of 0.7%, and $0.2 billion of 30+‑days‑delinquent balances for the period June 1–30, 2026. A June 2026 sale of certain previously written‑off card balances to a third party reduced reported June net write‑off rates by approximately 0.3% for U.S. Consumer and 0.1% for U.S. Small Business, and the Trust’s June default rate reflects proceeds from that sale.
Young Christopher David reported acquisition or exercise transactions in this Form 4 filing.
AMERICAN EXPRESS CO director Christopher David Young reported a compensation-related award of 119.746 Share Equivalent Units on common stock, each reflecting the value of one common share. These units were granted under the Directors' Deferred Compensation Plan, carry a reference price of $334.04 per unit, and will be settled in cash after his service as a director ends. The units are convertible immediately upon termination of service and have no expiration date. Following this award, Young holds a total of 20,991.920 Share Equivalent Units linked to American Express common stock.
WARDELL LISA W reported acquisition or exercise transactions in this Form 4 filing.
American Express director Lisa W. Wardell received 112.262 Share Equivalent Units as a grant, each reflecting the value of one common share. The units were credited at a reference price of $334.04 per unit under the Directors' Deferred Compensation Plan.
Following this award, she holds a total of 10,425.420 Share Equivalent Units. These units are payable in cash after her service as a director ends, are immediately convertible upon termination of service, and have no expiration date. Some units also reflect dividend reinvestment features of director plans.
American Express Co director Noel R. Wallace reported a compensation-related award of derivative securities tied to the company’s common stock. On June 30, 2026, he acquired 108.520 Share Equivalent Units, each reflecting the value of one common share at a reference price of $334.040 per unit.
The units were granted under the Directors' Deferred Compensation Plan, will be settled in cash after his service as a director ends, and are convertible immediately upon termination of service with no expiration date. Following this award, Wallace holds a total of 972.184 Share Equivalent Units, including amounts accumulated through a dividend reinvestment feature.
AMERICAN EXPRESS CO director Charles E. Phillips Jr. reported a compensation-related award of share equivalent units tied to the company’s common stock. He acquired 56.131 Share Equivalent Units at a reference value of $334.0400 per unit under the Directors' Deferred Compensation Plan, with each unit reflecting one common share and settling in cash after his board service ends. Following this grant, he holds a total of 10,501.273 Share Equivalent Units, which convert into cash based on the value of American Express common stock upon termination of service as a director.
American Express director Deborah P. Majoras reported a compensation-related award of share-based units. She acquired 54.260 Share Equivalent Units on June 30, 2026 at a reference price of $334.0400 per unit, bringing her total holdings to 5,126.258 Share Equivalent Units.
Each Share Equivalent Unit reflects the value of one American Express common share and is tied to the Directors' Deferred Compensation Plan. These units will be settled in cash after she terminates service as a director and are immediately convertible upon termination, with no expiration date.
American Express director John Joseph Brennan reported a routine compensation grant of cash-settled share units. He acquired 198.33 Share Equivalent Units tied to American Express common stock at a reference value of $334.04 per unit under the Directors' Deferred Compensation Plan. Each unit mirrors one common share in value and will be settled in cash after his board service ends, bringing his total reported Share Equivalent Units to 29,489.108.
AMERICAN EXPRESS CO director Thomas J. Baltimore Jr. received 108.520 Share Equivalent Units as a compensation award. Each unit tracks the value of one common share and is linked to a reference price of $334.0400 per unit.
These units were acquired under the Directors' Deferred Compensation Plan, include amounts from a dividend reinvestment feature, and will be settled in cash after his service as a director ends. Following this grant, he holds a total of 10,384.230 Share Equivalent Units.
American Express director Michael J. Angelakis reported a compensation-related grant of share-based units rather than an open-market trade. On this Form 4, he received 54.260 Share Equivalent Units tied to American Express common stock, bringing his total to 1,907.889 units.
Each Share Equivalent Unit reflects the value of one common share and was acquired under the Directors' Deferred Compensation Plan. These units will be settled in cash after his service as a director ends and are convertible upon termination of service, with no stated expiration date.