Popular Q2 Earnings Call Highlights

2 months ago 20

MarketBeat

Thu, July 23, 2026 astatine 12:07 PM CDT 7 min read

Key Points

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Popular posted a beardown 2nd quarter with nett income of $278 million, oregon $4.35 per share, up 15% from the anterior 4th and 41% from a twelvemonth ago. Management besides raised its full-year outlook for nett involvement income to 8% to 9% maturation and lifted its ROTCE people to 14% to 17%.
The slope announced a leadership transition: CEO Javier Ferrer volition discontinue astatine the extremity of August, CFO Jorge García volition go CEO, and Chief Risk Officer Lidio Soriano volition determination into the CFO role. Popular besides accrued its quarterly dividend by 20% to $0.90 per share, pending committee approval, and authorized up to $1 cardinal successful stock repurchases.
Credit prime remained mostly stable, adjacent though immoderate commercialized loans caused charge-offs and non-accruals. Non-performing loans fell to $413 cardinal and the NPL ratio improved to 1.04%, portion absorption present expects full-year nett charge-offs of 65 to 80 ground points.

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Popular (NASDAQ:BPOP) reported a stronger 2nd quarter, with absorption citing higher nett involvement income, coagulated interest generation, equilibrium expanse maturation and unchangeable underlying recognition trends, portion besides announcing a enactment modulation and expanded superior returns.

President and CEO Javier Ferrer said the institution earned nett income of $278 million, oregon $4.35 per share, up $0.57 per share, oregon 15%, from the archetypal quarter. Compared with the 2nd 4th of past year, net per stock roseate 41%. Return connected tangible communal equity improved to 17% during the quarter.

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Ferrer besides announced that helium volition discontinue astatine the extremity of August, saying helium plans to absorption connected his wellness and walk clip with household and friends. CFO Jorge García volition win him arsenic CEO, portion Chief Risk Officer Lidio Soriano volition go CFO. Luis Sousa volition win Soriano arsenic main hazard officer.

Revenue Growth and Updated Outlook

García said nett involvement income accrued by $23 cardinal from the anterior 4th to $693 million. The summation was driven by indebtedness growth, fixed plus repricing and higher concern balances supported by deposit maturation astatine Banco Popular de Puerto Rico. Net involvement borderline was unchangeable astatine 3.66% connected a GAAP basis, portion taxable-equivalent NIM expanded 3 ground points to 4.17%.

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