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Popular Inc (BPOP)
NASDAQ:BPOP
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
2.2Last Year’s EPS
1.87Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 28, 2025
|% Change Since: -2.97%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive outlook with significant net income growth, stable credit quality, and strong loan growth. However, some challenges were noted in terms of credit loss provisions, potential deposit outflows, and decreased tangible book value per share.Company Guidance
During the fourth quarter earnings call for Popular Incorporated, the company reported a strong financial performance for 2024. The annual net income reached $614 million, a significant increase from the $541 million in 2023, with an adjusted net income of $646 million, marking a 10% rise. The company achieved a total loan growth of $2 billion, or 5.8% year-over-year, primarily driven by commercial loans, with BPPR and Popular Bank contributing equally. Credit quality remained stable, with non-performing loans slightly decreasing and net charge-offs staying below historical levels. The common equity tier 1 ratio stood at a robust 16%, and the tangible book value per share increased by 14% to $68.16. The company also authorized a $500 million stock repurchase, buying back 2.3 million shares for approximately $220 million over the year, and increased the quarterly dividend by $0.08 to $0.70 per share. For the fourth quarter, net income was $178 million, up by $23 million from the previous quarter, driven by higher net interest income and lower credit loss provisions. Net interest margin expanded by 11 basis points to 3.35%, supported by reduced deposit costs and strong loan growth of $913 million.Annual Net Income Growth
2024 annual net income was $614 million, compared to $541 million in 2023, with an adjusted net income of $646 million, 10% higher than in 2023.
Strong Loan Growth
Total loan growth for the year was $2 billion, an increase of 5.8%. Fourth quarter loan growth was $913 million or 2.5%.
Stable Credit Quality
Credit quality remained stable throughout 2024, with non-performing loans decreasing slightly and net charge-offs below historic levels.
Shareholder Returns
A $500 million stock repurchase authorization was announced, with 2.3 million shares repurchased for $220 million in 2024. The quarterly common stock dividend was increased by $0.08 to $0.70 per share.
Tourism and Economic Strength in Puerto Rico
Passenger traffic at San Juan International Airport increased by 10% in the fourth quarter. A record 13.2 million travelers visited Puerto Rico in 2024.
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BPOP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BPOP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 28, 2025 | $103.77 | $102.46 | -1.26% |
| Oct 23, 2024 | $99.23 | $89.10 | -10.21% |
| Jul 24, 2024 | $101.58 | $98.04 | -3.48% |
| Apr 23, 2024 | $83.51 | $86.09 | +3.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Popular Inc (BPOP) report earnings?
Popular Inc (BPOP) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Popular Inc (BPOP) earnings time?
Popular Inc (BPOP) earnings time is at Apr 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BPOP EPS forecast?
BPOP EPS forecast for the fiscal quarter 2025 (Q1) is 2.2.
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