NASDAQ$BPOP

Popular Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported strong financial results for Q1 2023.

Popular, Inc. reported a net income of $159.0 million for the quarter ended March 31, 2023. The company's diversified business model, strong deposit base, and robust capital and liquidity positions contributed to the strong results. Loans increased by $260.6 million, while deposit balances decreased by $273.3 million.

  • Net income was $159.0 million in Q1 2023.
  • Net interest margin was 3.22% in Q1 2023.
  • Loans increased by $260.6 million from Q4 2022.
  • Deposit balances decreased by $273.3 million from Q4 2022.

Headline financials

Total Revenue

$694M

Previous: $649M+6.9%
EPS (adj)

$2.22

Previous: $2.69-17.5%
Net Interest Margin

3.2%

Previous: 2.8%+17.1%
Common Equity Tier 1

16.7%

Previous: 16.3%+2.9%
Common Equity/Share

$61.82

No prior period
Tangible Book Value/Share

$50.15

No prior period
NPLs to Loans

1.3%

Previous: 1.8%-27.8%
Capital Expenditures

-$36.1M

Previous: -$15.2M-137.2%
Free Cash Flow

$123M

Previous: $196M-37.4%
Net Income

$159M

Previous: $212M-24.9%
Operating Income

$252M

Previous: $443M-43.0%
Gross Profit

$646M

Previous: $634M+2.0%
Cash & Equivalents

$12.7B

Previous: $20.6B-38.5%
Total Assets

$67.7B

Previous: $69.5B-2.7%

Revenue & EPS history

Popular · Revenue · Quarterly

$694M

Q1 2023+6.9%vs Q1 2022
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

The Corporation expects its ETR for the year 2023 to be within a range from 21% to 26%.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+1.2%

Avg return

Earnings day

+1.9%

Avg return

5 days after

+3.9%

Avg return

30 days after

59%

41 / 69 earnings

Positive

+15.3%

Q4 2012

Best reaction

-12.0%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%+1.6%+1.4%
Q4 2025+6.3%+8.7%+16.0%
Q3 2025-1.2%-2.6%-0.5%
Q2 2025+0.3%+0.3%+3.9%
Q1 2025+5.9%+7.4%+14.6%
Q4 2024-1.3%-0.8%-3.2%
Q3 2024-11.0%-9.7%-1.0%
Q2 2024-0.7%-0.8%-3.4%
Q1 2024+3.6%+1.6%+3.7%
Q4 2023+4.9%+7.2%-0.1%
Q3 2023+8.1%+8.4%+20.4%
Q2 2023+4.6%+7.4%-5.4%
Q1 2023+3.2%+2.7%+3.5%
Q4 2022-3.9%-3.1%+4.3%
Q3 2022-6.9%-6.0%-4.3%
Q2 2022-3.0%-4.1%-0.1%
Q1 2022-0.4%-2.5%+0.9%
Q4 2021-0.8%+3.8%+3.4%
Q3 2021+1.5%+6.0%+3.5%
Q2 2021-0.2%+0.5%+3.5%
Q1 2021+0.4%-0.1%+8.5%
Q4 2020+2.9%+11.0%+21.2%
Q3 2020+7.6%+11.6%+29.4%
Q2 2020+2.6%+0.6%-1.6%
Q1 2020-11.3%-13.3%-5.6%
Q4 2019-2.9%-3.7%-16.3%
Q3 2019-1.6%+0.8%+0.2%
Q2 2019+5.4%+4.7%-6.2%
Q1 2019+1.5%+3.4%-1.0%
Q4 2018+3.4%+6.1%+11.6%
Q3 2018-0.1%+1.2%+7.0%
Q2 2018+6.4%+6.0%+8.4%
Q1 2018+6.3%+8.1%+6.1%
Q4 2017+7.1%+5.2%+9.9%
Q3 2017+1.6%+0.1%+3.7%
Q2 2017+1.9%-0.4%-4.3%
Q1 2017+6.0%+4.0%-5.2%
Q4 2016+2.3%+2.0%+1.0%
Q3 2016-4.2%-6.3%+6.3%
Q2 2016+7.3%+8.3%+21.6%
Q1 2016+0.4%
Q4 2015+8.8%
Q3 2015-4.9%
Q2 2015+5.8%
Q1 2015-2.0%
Q4 2014+0.7%
Q3 2014+4.3%
Q2 2014-1.0%
Q1 2014+5.3%
Q4 2013+2.8%
Q3 2013-2.7%
Q2 2013+3.0%
Q1 2013-0.4%
Q4 2012+15.3%
Q3 2012-0.5%
Q2 2012-12.0%
Q1 2012+0.0%
Q4 2010+2.7%
Q4 2011+2.7%
Q3 2011-8.2%
Q2 2011+4.1%
Q1 2010-1.0%
Q1 2011-1.7%
Q4 2008-2.5%
Q3 2009+1.9%
Q3 2010+1.9%
Q2 2009+3.4%
Q4 2009+3.4%
Q2 2010+3.4%

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