Popular Stock Earnings Reports

Popular, Inc. reported a strong Q1 2026: net income of $246 million and EPS of $3.78, up sequentially and materially year-over-year, driven by higher net interest income, margin expansion and lower operating expenses. NII was $670 million with GAAP NIM of 3.66% (taxable-equivalent 4.14%), and management now expects 2026 NII growth toward the upper end of the prior 5%–7% guidance range. Deposits rose to $67.6 billion (including $19.7 billion of Puerto Rico public deposits); deposit costs fell meaningfully quarter-over-quarter. Loan balances were essentially flat at $39.3 billion, and management now expects consolidated loan growth for 2026 to be at the low end of the prior 3%–4% range. Noninterest income was steady and expense control improved (opex $467 million); full-year expense growth expected roughly 2%–3% (slightly lower than prior guidance). Credit remains stable: NPL ratios improved (1.17%), net charge-offs annualized ~61 bps (Q1 included a single commercial-related charge-off), and the ACL rose modestly to 2.10% of loans. Capital remains strong (CET1 ~15.9%); the company repurchased ~$155 million of stock in Q1, has ~$126 million remaining under the current authorization (expected to be exhausted in Q2), and plans to provide an update on capital actions before the Q2 earnings call, including potential dividend increases and other capital optimization. Key macro/operational risks noted: sensitivity to sustained higher oil/commodity prices and geopolitical developments, and continued competitive pressure in certain loan segments (e.g., auto). Management reiterated focus on execution: digital initiatives, targeted segment strategies (e.g., healthcare professionals), deposit retention, disciplined loan growth and continued investment in technology while returning capital to shareholders.