Q1 2026 Popular Inc Earnings Call Transcript
Key Points
- Popular Inc (BPOP) reported a strong net income of $246 million and earnings per share of $3.78, showing significant improvement from the previous quarter.
- The company demonstrated a commitment to returning capital to shareholders by repurchasing $155 million in common stock and paying a quarterly dividend of $0.75 per share.
- Credit quality trends remained favorable with lower non-performing loans (NPLs) and improved NPL ratios.
- The company saw a 5% increase in combined credit and debit card purchases by Banco Popular customers compared to the first quarter of 2025.
- Popular Inc (BPOP) launched an integrated marketplace within its digital app, Mi Banco, enhancing customer engagement and offering exclusive merchant deals.
- Quarterly net charge-offs increased, primarily due to a single previously identified commercial relationship.
- Ending loan balances were essentially flat, with a slight decrease driven by lower balances at Popular Bank due to paydowns in the construction segment.
- The company expects consolidated loan growth in 2026 to be at the low end of its original 3% to 4% range due to slower demand in consumer and auto segments.
- Passenger traffic at Luis Muñoz MarÃn International Airport was down 2% in the first quarter after a record year in 2025.
- The allowance for credit losses increased by $16 million, reflecting higher reserves in the commercial portfolio and additional specific reserves for a single borrower in the telecommunications industry.
Good day and thank you for standing by. Welcome to the Popular, Inc. first-quarter 2026 conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to the investor relations officer at Popular, Inc., Paul Cardillo. Please go ahead.
Good morning and thank you for joining us. With me on the call today is our President and CEO, Javier Ferrer; our CFO, Jorge Garcia; and our CRO, Lidio Soriano. They will review our results for the first quarter and then answer your questions. Other members of our management team will also be available during the Q&A session.
Before we begin, I would like to remind you that during today's call, we may make forward-looking statements regarding Popular, such as projections of revenue, earnings, credit quality, expenses, taxes, and capital, as well as statements regarding Popular's plans and objectives. These statements are based on management's current expectations and are
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