Morgan Stanley (MS) Earnings Call Transcripts
Morgan Stanley's Latest Earnings Call - September 15, 2026
Morgan Stanley reported strong results for Q3 2026, with revenues of nearly $80 billion over the last four quarters, indicating robust growth potential. The firm emphasized that it does not believe it has reached peak earnings, citing ongoing opportunities in wealth management and investment banking. Earnings guidance remains optimistic as management highlighted significant growth in wealth management client acquisition and a strong investment banking pipeline, particularly in M&A and IPOs.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $80B (positive) |
| Wealth Management Households | 20 million (positive) |
| Nominal GDP Growth | 6.7% (positive) |
| Private Equity Sell-Side Mandates | 100+ (positive) |
| Return on Equity (ROE) in ISG | mid-20s% (positive) |
| Total Addressable Market (TAM) for Wealth Management | $100 trillion (positive) |
Guidance from management
Management maintained an optimistic outlook for the next 18-24 months, emphasizing continued growth in wealth management and investment banking. They indicated that they are focused on avoiding complacency and are prepared to navigate potential macroeconomic challenges.
What analysts pressed on
Analysts expressed concerns about the potential for a recession impacting market activity and the need for Morgan Stanley to remain vigilant in its risk management practices. There were questions regarding the sustainability of current market conditions and the firm's ability to capitalize on growth opportunities amidst economic uncertainties.
Main topics on the call
- Wealth Management Growth — Morgan Stanley's wealth management segment is positioned as the #1 growth opportunity in financial services, with a total addressable market (TAM) projected to grow from $60 trillion to $100 trillion. Management stated, ...
- Investment Banking Pipeline — The investment banking pipeline remains robust, driven by strong corporate confidence and a backlog of private equity deals. Management noted, "we remain very constructive around the investment banking environment," indi...
- AI Financing Opportunities — Morgan Stanley is strategically positioned in the AI financing sector, with management stating, "we're big believers that compute equals intelligence." The firm is leveraging AI to enhance productivity and client service...
- Macro Economic Concerns — Management expressed caution regarding macroeconomic conditions, particularly potential recession risks that could impact activity levels. They emphasized the need to avoid complacency, stating, "we do not want to be com...
Read the full Morgan Stanley transcript (September 15, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Morgan Stanley
Morgan Stanley (MS) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 65 calls on record spanning January 16, 2020 to September 15, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 65 Morgan Stanley earnings call transcripts on record, spanning January 16, 2020 to September 15, 2026. Based on this history, Morgan Stanley reports quarterly. The most recent call on file is dated September 15, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- MS
- Exchange
- NYSE
- Country
- US
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 65
- First call
- January 16, 2020
- Most recent
- September 15, 2026
- Reporting cadence
- quarterly