ZION Q2 earnings — Revenue -18% YoY · EPS +87% YoY · EBIT -100% YoY锡安银行 (ZION) Q2 财报 — 营收 -18% YoY · EPS +87% YoY · EBIT -100% YoY
Core Earnings Data
Zions Bancorporation, National Association (ZION) filed SEC Form 8-K Item 2.02 at 16:05:38 on July 20, 2026, disclosing Q2 2026 (ending June 30, 2026) financial results: Revenue of $1.019B (down 17.9% YoY, prior year quarter: $1.241B), diluted EPS of $3.05 (up 87.1% YoY, prior year quarter: $1.63), and EBIT of $0 (down 100% YoY, prior year quarter: $312M). The filing is accessible at Market participants should note the disconnect between the total collapse in core operating profit and the sharp YoY EPS growth, which requires further analysis of non-operating items.
Operating Leverage Analysis
Q2 2026 revenue fell 17.9% YoY, while EBIT plummeted 100% YoY, a far steeper decline than revenue, indicating a sharp compression in core operating margins. In the year-ago quarter, EBIT represented ~25.1% of total revenue ($312M / $1.241B); this quarter, that margin fell to 0%. Despite the double-digit percentage jump in EPS, the growth was not driven by improved core operating profitability.
Forward Guidance & Cross-Reference Signals
This 8-K filing did not include any forward-looking guidance for Q3 2026 or full-year 2026. Cross-referencing prior public signals: On May 11, 2026, Executive Vice President Jennifer Anne Smith sold 4,209.157 shares at $62.5 per share, generating approximately $263,072 in proceeds. On July 1, 2026, multiple directors including Skonnard Aaron received zero-cost stock awards. As of December 31, 2025, 13F data shows 579 institutional holders (up 36 quarter-over-quarter) owning 81.1% of the float, with 99 new positions, 300 increased positions, 168 reduced positions, and 59 closed positions. As of June 1, 2026, analyst ratings were split as 1 Strong Buy, 7 Buys, 13 Holds, 0 Sells, 1 Strong Sell, with no significant changes from the prior month.
Follow-up markers
This earnings release did not disclose the following critical information, which will require follow-up filings: 1. The source of non-operating gains driving the sharp YoY EPS growth, given core EBIT was $0; 2. Breakdown of revenue by business segment; 3. Core balance sheet metrics including total loans, deposit base, and non-performing loan ratio.
核心财报数据
锡安银行（ZION）于2026年7月20日16:05:38提交SEC 8-K表格第2.02项，披露2026年第二季度（截至6月30日）财务结果：营收10.19亿美元（同比降17.9%，去年同期12.41亿美元），摊薄每股收益3.05美元（同比增87.1%，去年同期1.63美元），息税前利润（EBIT）0美元（同比降100%，去年同期3.12亿美元）。备案链接为
运营杠杆分析
本季度营收同比下滑17.9%，而EBIT同比暴跌100%，跌幅远高于营收，说明核心运营利润率大幅压缩：去年同期EBIT占营收比例约25.1%，本季度为0%。尽管EPS同比大幅增长，但增长并非来自核心运营业务利润提升。
前瞻指引与交叉参考
本次8-K文件未披露2026年第三季度或全年的前瞻财务指引。结合此前公开信号：2026年5月11日，执行副总裁Jennifer Anne Smith以每股62.5美元出售4209.157股，套现约26.3万美元；2026年7月1日，包括Skonnard Aaron在内的多名董事获得零成本股票奖励。截至2025年12月31日的13F数据显示，579家机构持有ZION股票（占流通股81.1%，较此前增36家），其中99家新建仓位、300家加仓、168家减仓、59家清仓。2026年6月1日分析师评级为1个强力买入、7个买入、13个持有、0个卖出、1个强力卖出，评级较上月无显著变化。
后续关注
本次财报未披露以下关键细节，需等待后续文件更新：1. 推高EPS的非经营性收益来源（因EBIT为零，核心运营未产生利润）；2. 细分业务营收明细；3. 资产负债表核心指标如贷款总额、存款规模、不良贷款率。
This analysis was generated by InvestLog AI based on SEC filings, Form 4 insider transactions, Form 144 planned-sale notices, 13F institutional holdings, analyst ratings, and market data. It is for informational purposes only and does not constitute investment advice.这篇研究由 InvestLog AI 基于 SEC 披露、Form 4 内部人交易、Form 144 计划减持、13F 机构持仓、分析师评级和市场数据生成。内容仅供参考，不构成投资建议。