Wells Fargo (WFC) Q1 FY25 earnings call

Earnings call· Mar 2025 (Q1 FY25)· Financials· Apr 11, 2025

Source: earnings call transcript

Wells Fargo delivered solid Q1 FY25 results, marked by significant progress in resolving consent orders and robust capital returns. While net interest income faced headwinds, the company saw growth in fee-based revenue and continued expense discipline. Management expressed confidence in the company's strategic direction and strong balance sheet, despite ongoing macro and regulatory uncertainties.

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WFC operating KPIs by quarter

WFC operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	This call Mar 2025 Q1 FY25	Jun 2025 Q2 FY25	Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Sep 2026 Q3 FY26	Change vs prior quarter
Common equity tier 1 ratio (CET1)	11.1% Our capital position remains strong, and our CET1 ratio of 11.1% continued to be well above our CET1 regulatory minimum plus buffers of 9.8%. Source: earnings call transcript	11.1% Our capital position remains strong, with our CET1 ratio stable at 11.1%, well above our CET1 regulatory minimum plus buffers of 9.8%. Source: earnings call transcript	11.1% We maintained our strong capital position with our CET1 ratio at 11.1%, well above our current CET1 regulatory minimum plus buffers of 9.7%. Source: earnings call transcript	11% We maintained our strong capital position with our CET1 ratio at 11%, well above our new CET1 regulatory minimum plus buffers of 8.5%, which became effective in the fourth quarter. Source: earnings call transcript	10.6% Our capital levels remained strong with our CET1 ratio at 10.6%, down from the third quarter but well above our CET1 regulatory minimum plus buffers of 8.5%. Source: earnings call transcript	10.3% Our capital levels remained strong with our CET1 ratio of 10.3%, within our stated 10% to 10.5% target range and well above our CET1 regulatory minimum plus buffers of 8.5%. Source: earnings call transcript	10.3% Our capital levels remained strong with our CET1 ratio at 10.3% within our stated 10% to 10.5% target range and well above our CET1 regulatory minimum plus buffers at 8.5%. Source: earnings call transcript	10% Our capital levels remained strong with our CET1 ratio at 10%, well above our CET1 regulatory minimum plus buffers of 8.5%. Source: earnings call transcript	-0.3 pt
Employees	—	—	212K+ I know this call is for investors, but I want to once again thank the over 212,000 employees at Wells Fargo who all contributed in one way or another to this milestone. Source: earnings call transcript	~211K Our head count has declined from a peak of approximately 276,000 in second quarter 2020 to approximately 211,000 in the third quarter 2025, down 24%, with head count reductions every quarter for 5 years. Source: earnings call transcript	—	—	197K And in the second quarter, our headcount was 197,000, down 79,000 from 6 years ago, 15,000 from last year and 3,500 from last quarter. Source: earnings call transcript	—	—
Return on tangible common equity (ROTCE)	—	—	15% And the only thing I'll just make sure we're clear on is, yes, we had 15% ROTCE in the quarter, but we also recognize that we had the gain in our Merchant Services business. Source: earnings call transcript	15.2% These efforts helped improve our return on tangible common equity to 15.2% in the third quarter. Source: earnings call transcript	—	—	17.7% Our continued focus on improving returns was evident with ROTCE increasing from 15.2% a year ago to 17.7% in the second quarter and 16.1% in the first half of 2026. Source: earnings call transcript	16.3% Our ROTCE increased from 14.7% during the first 9 months of 2025 to 16.2% during the same period this year and 16.3% this quarter. Source: earnings call transcript	-1.4 pt

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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