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Did Western Alliance Beat Earnings?
Western Alliance (WAL) reported Q2 '26 revenue of $888M, down 30.7% year-over-year, with reported EPS of $2.22. That came in 4.7% below the $2.33 analyst estimate — an earnings miss.
AltIndex tracks earnings alongside 25+ alternative data signals that can move ahead of the report — Western Alliance’s job postings, web traffic, and employee business outlook. See the full WAL stock analysis or the earnings calendar for upcoming reports.
WAL Earnings Surprise History (EPS vs. Estimate)
| Quarter | Estimated EPS | Reported EPS | Surprise |
|---|---|---|---|
| Q2 '26 | $2.33 | $2.22 | Missed -4.7% |
| Q1 '26 | $1.36 | $1.25 | Missed -8.1% |
| Q4 '25 | $2.38 | $2.59 | Beat +8.8% |
| Q3 '25 | $2.07 | $2.15 | Beat +3.9% |
| Q2 '25 | $2.01 | $1.99 | Missed -1.0% |
| Q1 '25 | $1.78 | $1.76 | Missed -1.1% |
Western Alliance Quarterly Financial Trends
| Metric | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.31B | 1.29B | 1.21B | 1.28B | 1.4B | 1.41B | 1.44B | 888M |
| Gross margin | 59.0% | 59.0% | 60.5% | 61.3% | 60.3% | 62.7% | 55.9% | 42.0% |
| Operating margin | 19.3% | 20.1% | 20.4% | 22.7% | 22.4% | 25.3% | 16.1% | 37.4% |
| Net income | 200M | 217M | 199M | 230M | 253M | 286M | 189M | 262M |
| Net margin | 15.3% | 16.8% | 16.5% | 18.0% | 18.1% | 20.3% | 13.1% | 29.5% |
| EPS | $1.70 | $1.88 | $1.76 | $1.99 | $2.15 | $2.59 | $1.25 | $2.22 |
Western Alliance Earnings Trend Analysis
Over the eight quarters from Q3 '24 to Q2 '26, Western Alliance’s quarterly revenue moved from $1.31B to $888M. Net margin expanded from 15.3% to 29.5%, against a 42% gross margin in the most recent quarter — a read on whether revenue growth is translating into profit. Western Alliance has beaten Wall Street EPS estimates in 2 of its last 8 reported quarters.
When Is Western Alliance’s Next Earnings Date?
Western Alliance reports earnings on a quarterly schedule. Its most recent report covered Q2 '26. For the confirmed upcoming date — and every other company reporting soon — see the WAL earnings calendar.
Frequently Asked Questions: Western Alliance Earnings
Western Alliance's next earnings date has not been confirmed yet. See the earnings calendar for all upcoming reports.
Western Alliance reported Q2 '26 EPS of $2.22 on revenue of $888M (-30.7% YoY). Western Alliance missed estimates, reporting $2.22 vs. the $2.33 estimate.
Western Alliance reported Q2 '26 revenue of $888M, down 30.7% from the same quarter a year earlier.
Signals like job postings, web traffic, and employee sentiment reflect business activity in real time and can move before quarterly results are reported. AltIndex combines them with 25+ others in the WAL AI Score.
