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XP (XP)
NASDAQ:XP
Earnings Data
Report Date
May 19, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.49Last Year’s EPS
0.44Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operating and financial outcomes — AUC crossing BRL 2.1 trillion, revenue and earnings growth, ROE expansion, record corporate/issuer services results, continued product and cross-sell momentum, and disciplined capital returns — reflecting a resilient and maturing franchise. At the same time, management acknowledged tangible near-term headwinds: retail margin pressure and SMB redemptions impacting net new money, a temporary NPS decline tied to isolated events, higher tax expense from revenue mix, and execution risk to meet ambitious 2026 revenue guidance given current market dynamics (foreign-led rallies, retail volumes lagging). Overall, positives in scale, profitability, capital strength and strategic investments dominate, though several operational and market risks warrant monitoring in early 2026.Company Guidance
Total Client Assets Cross BRL 2 Trillion
Total client assets (AUC/AUM/AUA) reached ~BRL 2.1 trillion in 4Q25, representing 22% year-over-year growth and marking the milestone of crossing BRL 2 trillion.
Revenue Growth and Q4 Acceleration
Gross revenues for 2025 were BRL 19.5 billion, up 8% year-over-year. Fourth-quarter gross revenue reached BRL 5.3 billion, up 12% YoY and 7% sequentially; the company reported double-digit growth in 2H25 (slightly >10% vs 2H24).
Profitability Expansion
Adjusted net income for full-year 2025 was BRL 5.2 billion, up 15% YoY. Adjusted net income in 4Q25 was BRL 1.3 billion (+10% YoY). Adjusted diluted EPS grew 18% for the year (adjusted EPS 4Q25 BRL 2.56, +15% YoY; FY25 BRL 9.81, +18% YoY).
Strong EBT and Margins
EBT grew 10% YoY to BRL 5.5 billion for 2025. Adjusted EBT for 4Q25 was BRL 1.5 billion (+20% YoY, +16% QoQ) with an adjusted EBT margin of 31.3% (up 252 bps YoY and 271 bps QoQ); FY25 EBT margin expanded to 29.6% (+52 bps YoY).
Return on Equity and Capital Strength
Adjusted ROAE reached 23.9% in 2025, expanding 94 basis points versus 2024. Year-end BIS ratio was 20.4% and CET1 ratio 17.3%, providing a comfortable capital buffer after BRL 500 million in dividends and BRL 1.9 billion in buybacks in 2025.
Record Corporate & Issuer Services Performance
Corporate & Issuer Services posted its strongest results in history: 4Q25 revenues were BRL 895 million (+49% YoY, +23% QoQ) and full-year 2025 revenue was BRL 2.7 billion (+19% YoY), driven by DCM and cross-sell of derivatives and credit solutions.
Retail Franchise Resilience
Retail remains 75% of total revenues. Retail gross revenue for FY25 was BRL 14.6 billion (+8% YoY); 4Q25 retail revenue was BRL 3.9 billion (+8% YoY). The firm oversees ~18,000 advisers and ~5 million clients across ~800 centers, supporting scale and distribution.
Product and Cross-Sell Momentum
Cross-sell KPIs improved: credit card TPV rose 11% YoY to BRL 14.6 billion (4Q25); life insurance written premiums +25% YoY (4Q25); retirement plan AUC +17% YoY to BRL 95 billion; other new products (FX, global investments, digital account, consortium) grew 21% YoY and generated BRL 258 million revenue in the quarter. New product verticals now exceed BRL 1 billion annual revenue.
Service Excellence & Tech Adoption
Progress on fee-based/advisory models and tech: ~23% of retail AUC under fee-based model; 21% of targeted clients track financial planning with an adviser and 12% track wealth planning; adherence to expert allocation tool reached record usage in Dec-2025. 39% of advised clients are above XP Service Model Index target and show 21% higher revenues and >2x net asset inflows.
Capital Returns and Share Buybacks
Capital returned to shareholders totaled BRL 2.4 billion in 2025 (dividends + buybacks). The company retired >24 million shares (~4% of outstanding) in 2025 and maintained an open BRL 1 billion buyback program.
XP 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
XP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $19.77 | $19.87 | +0.51% |
Nov 17, 2025 | $17.92 | $18.27 | +1.95% |
Aug 18, 2025 | $17.32 | $15.84 | -8.55% |
May 20, 2025 | $18.38 | $18.46 | +0.44% |
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 XP (XP) report earnings?
XP (XP) is schdueled to report earning on May 19, 2026, After Close (Confirmed).
What is XP (XP) earnings time?
XP (XP) earnings time is at May 19, 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 XP EPS forecast?
XP EPS forecast for the fiscal quarter 2026 (Q1) is 0.49.