Amex Lifts 2026 Profit Guidance While Cutting About 3,500 Roles
American Express raised its 2026 adjusted EPS guidance after third-quarter adjusted EPS rose 13% to $4.68, beating analyst expectations. The company also recorded a $336 million pretax restructuring charge and plans to eliminate about 3,500 positions, roughly 5% of its workforce. Revenue rose 9% to a record $20.1 billion, while rewards and cardholder service costs increased faster.
American Express lifted the lower end of its 2026 adjusted EPS outlook to $17.60–$17.90 per share, while third-quarter adjusted EPS reached $4.68, a 13% increase that topped the roughly $4.48 analysts expected. Revenue set a record at $20.1 billion, up 9%, and billed business rose 8% to $454 billion.
The restructuring charge totaled $336 million before taxes and is tied to removing about 3,500 roles, or roughly 5% of global staff. Management described the move as a way to flatten management and accelerate decision-making; the charge was excluded from adjusted results, helped by part of a $982 million gain from selling a stake in Global Business Travel Group.
The planned job cuts could affect roughly 3,500 workers and their households, with possible ripple effects for local economies where Amex operates. Cardholders may see continued investment in premium benefits, though rising rewards and service costs could influence future fees or perk changes. Investors may weigh efficiency gains against competitive pressure in premium cards. Overall, the impact may be concentrated rather than broad.