Payment earnings reports for the nation’s top credit card issuers, global payments networks and supporting businesses gets underway before the market opens on Tuesday, January 14th. First out of the shoot is Chase (JPM), Citibank (C) and Wells Fargo (WFS), according to CardData and PYRPTS.
U.S. Bank (USB) and Bank of America (BAC) are scheduled to report before the market open, on Wednesday, January 15th. Capital One (COF) will release after the market close on Tuesday, January 21st.
Payment Earnings U.S.-Based Networks & Issuers
Among the four global payment networks, Discover (DFS) will report first on Thursday January 23rd, after the market close. American Express reports January 24th before the market open. Mastercard will report Wednesday, January 29th before the market open and Visa (V) will report after the market close on the same day.
The “Major 4” network peer group and Visa + Mastercard analysis reports will be issued beginning January 30th, following the Mastercard and Visa releases on January 29th.
Peer Group Analysis
Peer group revised analysis projections by RAM Research will begin updating Friday, Februray 7th.
The fourth-quarter will likely reveal upticks in delinquency and charge-off metrics, but yields should remain strong issuers, propped up by an uptick in U.S. consumer spending but offset by declining payment volume internationally, notes Robert McKinley, Senior Analyst for CardFlash, CardData and CardTrak.
According to the Mastercard SpendingPulse, holiday retail sales increased 3.4% (excluding auto sales) with online sales growing 18.8% compared to one-year ago.
Holiday spending also drove U.S. credit card debt up by nearly $8 billion in October, now growing by approximately 9% over the prior year. The October surprise is consistent with the erratic pattern of consumer spending and borrowing in 2019. Over the past ten months the monthly YOY (year-on-year) change has range from a revised minus 2.3% (March) to a revised positive 10.2% (July).
U.S. revolving credit, (97% credit card debt), increased in October at an annual rate of 8.8%, compared to one-year ago, and follows a revised +0.2% YOY (year-on-year) gain in September, according to CardTrak.
Q4 & EOY 2019 EARNINGS REPORTS CALENDAR
JPM January 14 Before Market
C January 14 Before Market
WFC January 14 Before Market
USB January 15 Before Market
BAC January 15 Before Market
COF January 21 After Market
DFS January 23 After Market
AXP January 24 Before Market
MA January 29 Before Market
V January 29 After Market
Source: American Express; Discover; Chase; Capital One; Bank of America; Citibank; Wells Fargo; U.S. Bank; Visa; Mastercard; CardData; RAM Research; CardTrak; CardFlash; PYRPTS; CardBuzz; Bankcenter; PYVNTS: Ruebud Media; Red3 Media