American Express (AXP) Q4 2025 Earnings Call Transcript

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Jan. 30, 2026, 8:30 a.m. ET

• Chairman and Chief Executive Officer — Stephen Squeri

• Chief Financial Officer — Christophe Le Caillec

• Head of Investor Relations — Kartik Ramachandran

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Operator: And gentlemen, convey you for lasting by. Welcome to the American Express Q4 2025 Earnings Call. At this time, each participants are successful a listen-only mode. Later, we volition behaviour a question-and-answer session. You volition perceive a code indicating you person been placed successful queue. You whitethorn region yourself from the queue astatine immoderate clip by pressing prima past two. If you are utilizing a speakerphone, delight prime up the handset earlier pressing the numbers. Should you necessitate assistance during the call, delight property prima past 0. As a reminder, today's telephone is being recorded. I would present similar to crook the league implicit to our host, Head of Investor Relations Mr. Kartik Ramachandran. Thank you.

Please spell ahead.

Kartik Ramachandran: Thank you, Donna, and convey you each for joining today's call. As a reminder, earlier we begin, today's treatment contains forward-looking statements astir the company's aboriginal concern and fiscal performance. These are based connected management's existent expectations and are taxable to risks and uncertainties. Factors that could origin existent results to disagree materially from these statements are included successful today's presumption slides, and successful our reports connected record with the SEC. The treatment contiguous besides contains non-GAAP fiscal measures. Comparable GAAP fiscal measures are included successful this quarter's net materials, arsenic good arsenic the net materials for the anterior periods we discussed. All of these are posted connected our website astatine ir.americanexpress.com.

We'll statesman contiguous with Stephen Squeri, Chairman and CEO, who volition commencement with immoderate remarks astir the company's advancement and results. Then Christophe Le Caillec, our Chief Financial Officer, volition supply a much elaborate reappraisal of our fiscal performance. After that, we'll determination to a Q&A league connected the results, with some Stephen and Christophe. With that, fto maine crook it implicit to Stephen.

Stephen Squeri: Thank you, Kartik. Good morning, and invited to our 4th fourth net call. We had different twelvemonth of beardown show continuing the momentum we delivered since introducing our semipermanent maturation aspirations successful January of 2022. Full-year revenues were up 10% to a grounds $72 cardinal and EPS was $15.38, up 15% implicit past twelvemonth excluding the gain. Card subordinate spending was beardown passim the year. Card interest maturation continued successful treble digits, for 30 consecutive quarters and we maintained fantabulous recognition quality. Importantly, we proceed to put successful areas that fortify our rank exemplary and thrust our growth.