Q1 2026 XP Inc Earnings Call Transcript
Key Points
- Client assets under management and administration reached BRL2.1 trillion, marking a 21% year-over-year growth.
- Gross revenues increased by 8% year over year to BRL4.9 billion.
- Net income rose by 7% year over year to BRL1.3 billion.
- A new buyback program of BRL1 billion was announced, alongside BRL500 million in dividends to be paid in June.
- The company maintained a strong capital position with a capital ratio of 20.7%.
- Increased global volatility and widening domestic credit spreads impacted market sentiment.
- Retail revenue saw a 2% decline quarter over quarter due to corporate credit impacts.
- The efficiency ratio increased by 100 basis points year over year, reflecting short-term revenue softness.
- Credit spreads continued to widen in April, affecting market stability.
- Net new money from corporate and institutional segments was negative BRL4 billion.
© -
Good evening, everyone. I'm André Parize, Investor Relations Officer at XP, and thank you for joining us, and welcome to our first-quarter 2026 earnings call.
Today's presentation will be delivered by our CEO, Thiago Maffra; and our CFO, Victor Mansur. And right after the presentation, they will be both available for the Q&A session. (Event Instructions)
Before we begin, please see the legal disclaimer on page 2 of today's presentation for information regarding forward-looking statements. The presentation is available for download on our Investor Relations website with further details in the SEC filing section of our IR website.
To begin the presentation, I will now turn it over to Thiago Maffra. Good evening, Maffra.
Thank you, André. Good evening, everyone, and thank you for joining us for the first-quarter 2026 earnings call. Let's begin by reviewing the key highlights of the quarter.
Client assets
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
