Popular Earnings Call Transcripts
Fiscal Year 2026
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Strong Q2 results featured 15% sequential and 41% year-over-year EPS growth, robust loan and deposit increases, and improved credit quality. Capital returns were boosted with a new $1B buyback and a 20% dividend hike, while leadership transitioned smoothly.
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Q1 2026 saw net income rise to $246M and ROTCE reach 15.5%, driven by higher NII, margin expansion, and lower expenses. Credit quality improved, capital returns accelerated, and guidance was raised for NII and expense efficiency, with a positive outlook for Puerto Rico's economy.
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Puerto Rico's economy is showing strong momentum, with significant new investments and a return of young professionals. The institution maintains a conservative capital position, prioritizes sustainable profitability, and expects continued growth while navigating regulatory and competitive challenges.
Fiscal Year 2025
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Full-year 2025 saw net income rise 36% to $833 million, with strong loan growth, stable credit, and robust capital returns. 2026 guidance calls for 3%-4% loan growth, 5%-7% NII growth, and continued focus on efficiency, digital transformation, and disciplined capital allocation.
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Q3 2025 saw net income of $211M and EPS of $3.15, with strong loan growth, expanding NIM, and stable deposits. Credit quality was impacted by two large commercial loans, but underlying metrics remain solid. Guidance was raised for loan growth and NII, with continued focus on cost discipline and capital returns.
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Puerto Rico's economy is robust, supported by federal funding, tourism, and manufacturing. The bank is focused on transformation, loan growth, and profitability, with strong credit and deposit trends. Management sees continued growth opportunities and views current risks as manageable.
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Net income and EPS rose sequentially, driven by strong loan and deposit growth, improved credit quality, and higher NII. Capital actions included a $500M buyback and a 7% dividend increase, with guidance raised for ROCCE and NII growth.
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Net interest income and deposits grew, credit quality improved, and capital ratios remained strong. Guidance for 2025 is positive, with loan growth expected at the lower end of the range and continued focus on capital returns and transformation initiatives.
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Puerto Rico's economy is buoyed by historic low unemployment, wage growth, and significant federal and private investment. Lending growth targets 3–5%, with strong credit quality and a focus on technology-driven transformation. CET1 capital remains robust, supporting ongoing buybacks.
Fiscal Year 2024
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Reported 10% adjusted net income growth and strong loan expansion, with stable credit quality and robust capital. 2025 guidance calls for 3%-5% loan growth, 7%-9% NII increase, and continued NIM expansion, while managing deposit outflow risks and higher consumer charge-offs.
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Net income declined to $155 million due to higher credit loss provisions and deposit outflows, but loan growth and net interest income improved. Guidance for 2024 NII growth was lowered to 6%-7%, and ROTCE target for Q4 2025 was revised to at least 12%.
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Second quarter net income rose to $178 million, driven by higher net interest income, improved credit quality, and strong loan growth in Puerto Rico. Announced a 13% dividend increase and $500 million stock repurchase, reflecting robust capital and positive outlook.