Popular, Inc. (BPOP) Earnings
Popular, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $3.71. BPOP has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +12.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $3.30 | $3.78 | +14.5% | $836M | -1.6% |
| Jan 27, 2026 | $3.02 | $3.38 | +11.9% | $826M | -0.0% |
| Oct 23, 2025 | $2.95 | $3.14 | +6.4% | $779M | -5.1% |
| Jul 23, 2025 | $2.60 | $3.09 | +18.8% | $800M | -0.5% |
| Apr 23, 2025 | $2.16 | $2.56 | +18.5% | $720M | -6.0% |
| Jan 28, 2025 | $2.04 | $2.51 | +23.0% | $720M | -4.2% |
| Oct 23, 2024 | $2.31 | $2.16 | -6.5% | $702M | -8.4% |
| Jul 24, 2024 | $2.12 | $2.46 | +16.0% | $696M | +18.2% |
| Jan 25, 2024 | $1.05 | $1.94 | +84.8% | $673M | +25.0% |
| Oct 26, 2023 | $1.85 | $1.90 | +2.7% | $656M | +22.2% |
| Jul 26, 2023 | $1.81 | $2.10 | +16.0% | $655M | +26.1% |
| Jan 25, 2023 | $2.62 | $3.56 | +35.9% | $783M | +5.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Operating Performance: Net income and EPS improved significantly, driven by higher net interest income, margin expansion, and lower operating expenses. The return on average tangible common shareholders' equity (RODSI) was 15.5%. - Puerto Rico Business: Business activity in Puerto Rico was positive, with a healthy labor market, strong consumer spending, and momentum in construction and tourism sectors. - Strategic Framework: Advancing three objectives, including launching an integrated marketplace within the MiBanco app, new corporate credit cards, and a program for doctors, dentists, and veterinarians. - Financial Results: Net interest income increased due to fixed rate asset repricing and higher investment balances. Deposit balances grew, and deposit costs decreased. Non-interest income was in line with expectations, and operating expenses were controlled. Tangible book value increased due to net income and offset by capital return activity. - Credit Quality: Credit quality metrics remained stable with lower non-performing assets and loans, and lower modified payment loans (MPLs), although net charge-offs increased but were in line with the annual guidance.
Guidance
- Net Interest Income: Now expects 2026 net interest income growth at the upper end of the 5%-7% guidance range. - Non-Interest Income: Continues to expect quarterly non-interest income in the range of $160 to $165 million. - Expenses: Full-year operating expenses are expected to increase by 2% to 3% compared to the original 3% guidance. - Tax Rate: The effective tax rate for the year is now expected to be at the low end of the 15%-17% guidance range due to higher projected exempt income. - Share Repurchase: The active common stock repurchase authorization is expected to be exhausted during the second quarter, with targeting an update on capital actions before the second quarter's earnings call. - Capital: Plans to continue evaluating capital optimization alternatives, pursue a dividend increase during the year, with plans subject to market conditions, regulatory considerations, and board approvals. - Public Deposits: Expect public deposits to be in the range of $18 to $20 billion for the year.
Segment performance
Net income was $246 million and EPS was $3.78. Net interest income increased by approximately $13 million to $670 million, with the net interest margin expanding to 3.66% on a GAAP basis and 4.14% on a taxable equivalent basis. Loan balances were essentially flat at $39.3 billion. The deposit balance ended the quarter at $67.6 billion, which was $1.4 billion higher than the fourth quarter. Deposit costs decreased by 12 basis points to 1.56%. Non-interest income was $166 million, in line with the fourth quarter and at the high end of the quarterly guidance. Operating expenses were $467 million, a decrease of $6 million from the fourth quarter. Tangible book value per share was $84.98, an increase of $2.33 per share. Credit quality metrics showed non-performing assets and loans decreased, with net charge-offs amounting to $60 million or an annualized 61 basis points.
Risks & headwinds
- Geopolitical Uncertainty: Sustained higher oil and commodity prices could impact the customer base. - Credit Risk: Although current credit trends are favorable, there is potential for credit quality deterioration in an uncertain economic environment. - Regulatory Risks: Changes in regulations could affect the company's operations and capital requirements. - Market Fluctuations: Fluctuations in interest rates and market conditions could impact net interest income, net interest margin, and asset values.
Analyst Q&A
Q: Jared Shaw inquired about deposit growth and future trends.
A: Traditionally, ending deposits tend to trend lower in the second quarter but average balances are higher as tax season overlaps. The team is focused on deposit retention and growth, expecting less runoff than in 2024.
Q: Brett Rabaton asked about NII guide, margin, and capital.
A: Expect the margin to grow by the end of the year, with the current NII guidance assuming no further Fed rate cuts in 2026, and capital plans to be updated in the second quarter.
Q: Timur Brasilier questioned about profitability, capital, and Basel III.
A: The 14% through the cycle objective is not yet achieved, and Basel III impact on risk-weighted assets is consistent with preliminary estimates for smaller banks.
Q: Aaron Zyganovich asked about onshoring, loan modifications.
A: Onshoring momentum continues, and loan modifications in the commercial portfolio are for specific clients with financial difficulty, not affecting the broader portfolio.
Q: Kelly Mata inquired about expenses and balance sheet.
A: Expense variance is due to better negotiations, lower excess accruals, and timing differences, with comfort in cash/money market levels.
Q: Gerard Cassidy asked about credit ratings and oil impact.
A: Focus is on engaging with rating agencies, and oil price impact on credit quality depends on duration, with consumer performance tied to employment and refund activity.
Q: Manuel Navas asked about credit provisioning and buyback.
A: Potential upside in provisioning if the economy remains stable, and buyback strategy is consistent with updates on capital actions including authorization and dividend plans.