Popular Q1 Earnings Call Highlights

4 weeks ago 19

MarketBeat

Thu, April 23, 2026 astatine 11:50 AM CDT 10 min read

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$246 cardinal nett income and EPS of $3.78 successful Q1, up sequentially and sharply year-over-year, with ROTCE astatine 15.5%—above the bank’s 14% people for 2 consecutive quarters and absorption saying it aims to prolong that level “through the cycle.”
NII and margins improved: nett involvement income was $670 million, GAAP borderline roseate to 3.66% (taxable-equivalent 4.14%), deposit costs fell and deposits roseate $1.4 cardinal (partly from taxation refunds), prompting absorption to assistance NII maturation guidance to the precocious extremity of a 5%–7% scope portion expecting low-end 3% indebtedness maturation for 2026.
Credit and capital: non-performing loans and assets fell and the allowance accrued to $824 cardinal (ACL-to-NPL 180%), but nett charge-offs roseate to $60 cardinal driven by circumstantial items; the slope repurchased astir $155 cardinal of banal this 4th and plans further superior actions and a imaginable dividend increase.
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Popular (NASDAQ:BPOP) reported first-quarter 2026 nett income of $246 cardinal and net per stock of $3.78, marking an summation of $12 cardinal and $0.25 per stock from the 4th fourth of 2025. President and CEO Javier Ferrer said the sequential betterment was driven by higher nett involvement income, nett involvement borderline expansion, and little operating expenses. Compared to the archetypal 4th of 2025, Ferrer said nett income roseate 38% and EPS accrued 48%.

The institution posted a instrumentality connected tangible communal equity (ROTCE) of 15.5%, up from 14.4% successful the anterior 4th and 11.4% a twelvemonth earlier. While Popular has exceeded its stated 14% profitability nonsubjective for 2 consecutive quarters, Ferrer told analysts the extremity is to prolong that show “through the cycle,” peculiarly successful periods of economical stress.

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Ferrer said concern enactment successful Puerto Rico “remained positive,” supported by dependable employment and user trends, with manufacturing, construction, and tourism leading. He noted the institution is monitoring geopolitical developments, peculiarly the imaginable interaction of sustained higher lipid and commodity prices, but said Popular had not seen “significant signs of economical stress” arsenic of quarter-end.

Ferrer cited Puerto Rico’s unemployment complaint of 5.6%, which helium said remained unchangeable adjacent historical lows. He besides pointed to steadfast user activity, noting that combined recognition and debit paper purchases by Banco Popular customers accrued by astir 5% year-over-year. Mortgage balances astatine Banco Popular accrued modestly during the quarter, and Ferrer said the slope continues to spot steadfast location demand.

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