Nu Holdings Ltd. Class A (NU)
NYSE:NU
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Earnings Data
Report Date
Aug 18, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.21Last Year’s EPS
0.14Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple strong operational and financial achievements: record revenue and net income, rapid customer growth and engagement, ARPAC expansion, robust NII and NIM, substantial credit-book growth with attractive unit economics, and measurable AI-driven productivity gains. Management framed higher provisions and allowance builds as expected outcomes of seasonality, portfolio growth and mix (cards and unsecured lending) rather than deterioration in asset quality, reinforced by strong coverage (16.2%) and provisions running ahead of new NPL formation. Near-term headwinds include seasonal delinquency increases, higher upfront provisioning and some timing-driven OpEx normalization, plus deposit seasonality and FGTS-related secured lending impacts. Overall, the positives (record results, scalable margins, AI progress, diversified revenue, strong coverage) materially outweigh the near-term, explainable lowlights.Company Guidance
Record Revenue and Net Income
Consolidated revenue reached a record $5.0 billion (first time), and net income for Q1 2026 was $871 million (quarterly historical high), up 41% year-over-year on an FX‑neutral basis; net income has compounded >80% annually since 2022 (FX‑neutral).
Large and Growing Customer Base with High Engagement
Customer base surpassed 135 million (115M Brazil, 15M Mexico, ~5M Colombia). Consolidated monthly activity rate held at 83% and expanded sequentially; Brazil approaching 100 million monthly active customers.
ARPAC Expansion and NII Growth
ARPAC reached ~ $16 per active customer and has expanded sequentially every quarter; Net interest income hit a record $3.25 billion in the quarter, up 12% quarter-over-quarter (FX‑neutral).
Strong Balance Sheet and Credit Book Growth
Total credit portfolio was $37.2 billion, up 40% year-over-year (FX‑neutral) and up 7% quarter-over-quarter; unsecured lending grew 53% YoY to $10 billion and credit cards grew 36% YoY.
Deposits and Total Exposure Expansion
Total deposits reached $42.4 billion, up 22% year-over-year (FX‑neutral); total exposure (on- and off-balance sheet) reached $70.7 billion, up 44% YoY (FX‑neutral).
Improved Efficiency and Durable Operating Leverage
Reported efficiency ratio improved to 17.6% (core efficiency 16.6% excluding return-to-office, international expansion and AI infra). Management expects consolidated efficiency ~20% for full‑year 2026 (core remains downward trending).
Diversified Gross Profit and NIM Strength
Gross profit was $1.88 billion, up 27% YoY (FX‑neutral). Net interest margin (NIM) rose to 21.1%.
AI Transformation Delivering Tangible Productivity Gains
Near 100% AI tool utilization among employees; engineering throughput up >50% YoY; weekly token consumption ~10x YTD; testing cycles 90% faster. AI features (AI Private Banker) serve >15 million monthly users; proprietary foundation models (nuFormer) in production for card decisioning and unsecured lending.
Market Share and International Progress
In Brazil Nubank holds roughly ~7% of the addressed profit pool while being the largest private financial institution by customers; in Mexico customer base grew ~7x in 4 years (from ~2M to 15M) and ARPAC nearly doubled; Mexico achieved its first IFRS profitable quarter ahead of internal plan.
Resilient Coverage and Provisioning Positioning
Total coverage stands at 16.2% of the portfolio (~2.5x the 90+ delinquency balance). Gross CLA against new 90+ NPL formation was 153.8%, indicating provisions running ahead of new NPL formation.
SME Traction with Low Acquisition Cost
Built an SME base of ~5 million customers (effectively 0 CAC) and crossed >2 million small-business credit cards, with new SME product lines being rolled out.
Tax Efficiency Improvements
IFRS effective tax rate was 8.7% in Q1 (reflecting structural changes); management expects IFRS ETR to converge to 15–20% for the remainder of 2026 and managerial ETR to converge to 30–35% (peer‑aligned).
NU 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
NU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 14, 2026 | $12.93 | $12.19 | -5.72% |
Feb 25, 2026 | $16.65 | $15.06 | -9.55% |
Nov 13, 2025 | $15.59 | $15.82 | +1.48% |
Aug 14, 2025 | $12.01 | $13.10 | +9.08% |
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.
FAQ
When does Nu Holdings Ltd. Class A (NU) report earnings?
Nu Holdings Ltd. Class A (NU) is schdueled to report earning on Aug 18, 2026, After Close (Confirmed).
What is Nu Holdings Ltd. Class A (NU) earnings time?
Nu Holdings Ltd. Class A (NU) earnings time is at Aug 18, 2026, After Close (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 NU EPS forecast?
NU EPS forecast for the fiscal quarter 2026 (Q2) is 0.21.
