WBS earnings analysis
What we found in WBS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Webster reported Q2 2026 total revenue of $740.0 million and GAAP diluted EPS of $1.56; adjusted EPS was $1.60 after $8.7 million of transaction expenses. The quarter’s revenue and GAAP EPS were modestly below the supplied consensus figures, while the pending Banco Santander transaction has led Webster to withdraw outlook and pause buybacks. Gross margin, operating margin, segment revenue, balance-sheet movements, operating cash flow, and capital expenditures were not available in the supplied filing extract, so those metrics are reported as null.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Adjusted EPS offsets transaction costs
- Q2 2026 GAAP diluted EPS was $1.56; adjusted diluted EPS was $1.60 after $8.7 million of transaction expenses related to the proposed Banco Santander transaction.
- Substantial repurchase authorization remains
- The company retained $334.3 million of authorization under its common-stock repurchase program at June 30, 2026, although programmatic repurchases are paused pending completion of the transaction.
- No programmatic buybacks in Q2
- Employee plan activity accounted for 9,438 share purchases during Q2 at an average $70.56 per share; none were purchases under the publicly announced repurchase program.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Deal pauses capital-return flexibility
- Webster’s $700.0 million increase in repurchase authority approved on April 30, 2025 remains unavailable for deployment: repurchases have been paused since February 3, 2026, pending completion of the Banco Santander transaction.
- Revenue and GAAP EPS trailed consensus
- Q2 total revenue of $740.0 million was below the supplied consensus estimate of $755.1 million, a $15.1 million shortfall, while GAAP EPS of $1.56 was below the $1.60 estimate.
- No material risk-factor updates
- The filing reports no material changes to risk factors from the December 31, 2025 Form 10-K; therefore, it does not identify a newly added or materially revised risk factor during Q2.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.56
What they said about what is next.
Webster withdrew its forward-looking financial outlook in connection with the proposed Banco Santander transaction. The filing states that repurchases have been paused effective February 3, 2026, through completion of the transaction.
The filing reads about the same as the one before it.
What came before.
- 10-Q · April 30, 2026
- Webster Financial reported Q1 2026 revenue of $735.9 million, surpassing estimates of $735.08 million, with diluted EPS at $1.57, exceeding expectations. Management discussed the pending transaction with Banco…
- 10-K · April 24, 2026
- Webster’s amended 2025 Form 10-K/A emphasizes a completed 2025 operating year (total revenue $2,899 million; net income $1,002.8 million) and discloses a definitive Transaction Agreement entered February 3, 2026 with…
- 10-K · February 27, 2026
- Webster Financial’s 2025 10-K centers on a confirmed, transformational two-step acquisition by Banco Santander (aggregate value ≈ $12.3 billion) while describing a three-segment strategy (Commercial Banking; Healthcare…
- 10-Q · November 10, 2025
- Webster reported diluted EPS of $1.54 for Q3 2025 (up from $1.10 in Q3 2024) and net income of $261,217 (thousands), driven by higher net interest income and a jump in non‑interest income. Net interest income was…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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