Banco Bradesco S.A. (BBD) Earnings
Banco Bradesco S.A. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $0.13. BBD has beaten EPS estimates in 1 of its last 10 reported quarters (average surprise -4.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.12 | $0.12 | +0.0% | $7.5B | +6.2% |
| Mar 25, 2026 | — | $0.10 | — | $20.9B | — |
| Oct 29, 2025 | $0.11 | $0.09 | -18.2% | $15.1B | +126.2% |
| Jul 30, 2025 | $0.10 | $0.10 | +0.0% | $14.1B | +131.5% |
| May 7, 2025 | $0.09 | $0.09 | +0.0% | $12.0B | +115.1% |
| Mar 11, 2025 | — | $0.06 | — | $10.7B | — |
| Oct 31, 2024 | $0.09 | $0.09 | +0.0% | $11.4B | +1080.1% |
| May 2, 2024 | $0.07 | $0.08 | +14.3% | $12.8B | +1097.3% |
| Mar 11, 2024 | $0.08 | $0.06 | -25.0% | $3.5B | — |
| Nov 9, 2023 | $0.09 | $0.08 | -11.1% | $4.9B | -18.4% |
| Aug 3, 2023 | $0.09 | $0.09 | +0.0% | $5.1B | -17.7% |
| May 4, 2023 | $0.07 | $0.07 | +0.0% | $5.1B | -12.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Recurring net income growth driven by total revenue increase. - Insurance segment with consistent results and launch of Brad Saúde. - Transformation with increased use of Gen-AI and high technology. - Focus on conservative risk appetite in loan portfolio growth. - Growth in various loan portfolios like auto loans, credit cards, payroll deductible loans. - Improvement in credit portfolio quality with secure loans and coverage ratio. - Growth in fee income from consortia and investment banking. - Efficiency in operating expenses with controlled growth and footprint review.
Guidance
- Reiterated guidance for insurance segment growth between 6 - 8%, with Q1 performance above upper range but confident in full-year guidance. - Expectation of NII growth to continue with moderate risk appetite, considering various loan portfolio growth and risk-adjusted return. - Confidence in achieving ROE targets through step-by-step growth and various business initiatives. - Stable capital position with expectation to maintain or improve capital ratios.
Segment performance
Recurring net income in Q1 2026 was 6.8 billion BRLs, up 16.1% YOY and 4.5% QOQ with ROAE of 15.8%. Total revenues grew 14% YOY. Insurance segment delivered consistent results with almost 22% ROE. Loan portfolio reached almost 1.1 billion BRLs, growing 8.4% YOY. NII grew 16.4% YOY, with client NII and market NII contributing. Fee income was up 6.2% YOY. Restructured portfolio between Dec 23 and Mar 26 was down to 14 billion, with Stage 3 coverage ratio growing.
Risks & headwinds
- Uncertain macroeconomic scenario including Middle East war impact. - Potential degradation in some credit lines, especially in agribusiness and large corporates. - Civil and labor claims as contingencies that could impact expenses. - Risks associated with specific corporate cases and court reorganizations affecting provisions and coverage ratio.
Analyst Q&A
Q: About NII growth with moderate risk appetite and concerning credit segments.
A: Risk appetite is conservative with model adjustments, NII growth expected to continue with focus on high-quality credit and controlled cohorts. -
Q: On costs converging to peers' level.
A: Cost to income ratio improvement in progress with technology investment and footprint adjustment, civil and labor claims expected to converge in future years. -
Q: On capital source and LLP.
A: Capital source related to tax credits and DTAs, LLP growth due to portfolio growth and 4966 impact. -
Q: On sustainable ROE.
A: Pursuing 18% ROE through step-by-step growth and competitiveness improvement. -
Q: On Brad Saúde impact on capital and Desenrola program.
A: Brad Saúde had positive capital impact, Desenrola program impact expected to be small in short term. -
Q: On balance sheet efficiency and DTAs.
A: Looking at other balance sheet opportunities, DTAs inventory nominal flat, footprint and headcount adjustments in progress. -
Q: On extraordinary liability and DTAs.
A: Extraordinary liability settled using DTAs, DTAs inventory nominal flat, footprint and headcount adjustments in progress. -
Q: On provisioning and ROAE leverage.
A: Comfortable with leverage, provisioning and growth in various lines driving ROAE. -
Q: On organic capital generation.
A: Already generating organic capital with net income contribution, expecting to maintain and improve capital position through business initiatives.