Third-Quarter Earnings Reports for Payments Hit Next Week

Third-quarter earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on Tuesday, October 15th. First out of the shoot, is Chase (JPM), Citibank (C) and Wells Fargo (WFS), according to PYRPTS.com and CardData.

Among, the four global payment networks, American Express (AXP) will report first on October 18th, before the market open. Discover (DFS) reports October 22nd after the market close. Visa (V) will report October 24th after the market close and Mastercard (MA) will release on October 29th before the market open.

As a result, CardData will begin issuing “Top 4” issuer peer group third-quarter analysis reports on October 28th, following the release of Capital One (COF) earnings report on October 24th after the market close.

Peer Group Analysis Reports

The “Major 4” network peer group and Visa + Mastercard analysis reports will be issued beginning October 31st, following the Mastercard release on October 29th.

Peer group revised analysis projections by RAM Research will begin updating November 15th.

The third-quarter will likely reveal upticks in delinquency and charge-off metrics, but yields should remain around the record levels of the past two quarters, notes Robert McKinley, Senior Analyst for CardFlash, CardData and CardTrak.

Also of note: U.S. credit card debt unraveled in August as Americans knocked-off $2 billion in new revolving consumer debt, mostly credit card debt. After adding $15 billion in new credit card debt this year, mostly between April and July. The decline dovetails with the recent sharp declines in U.S. consumer confidence.

U.S. revolving credit, (97% credit card debt), decreased in August, at an annual rate of 2.2%, compared to one-year ago, and follows a revised 10.5% YOY (year-on-year) surge in July and a revised decline of 0.8% in June.