Popular Inc. Earnings: Profit Up and Other Interesting Numbers

Popular Inc. (NASDAQ:BPOP) reported net income above Wall Street’s expectations for the third quarter. Popular is a publicly owned bank holding company that offers retail and commercial banking services through its main banking subsidiary, Banco Popular de Puerto Rico.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

Popular Inc. Earnings Cheat Sheet

Results: Net income for Popular Inc. rose to $47.2 million (45 cents per share) vs. $27.5 million (26 cents per share) in the same quarter a year earlier. This marks a rise of 71.4% from the year-earlier quarter.

Actual vs. Wall St. Expectations: Popular Inc. beat the mean analyst estimate of 41 cents per share.

Quoting Management: Mr. Richard L. Carrin, Chairman of the Board and Chief Executive Officer, said: “Third quarter results reflected continued strength and stability in our revenues, further declines in non-performing loans and charge-offs, and increases in our already strong capital ratios. Our number one priority is continuing to reduce non-performing assets, which will improve returns and increase our strategic and financial flexibility.”

Key Stats:

The company has beaten estiamtes for two quarters in a row. In the second quarter, it topped expectations with net income of 50 cents versus a mean estimate of net income of 30 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 53 cents a share to 48 cents over the last sixty days. The average estimate for the fiscal year is now $1.92 per share, down from $1.98 sixty days ago.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Is Starbucks a Buy?

Bank of America’s Stock After Earnings: Buy, Wait, Or Stay Away?

Are Netflix Shares a Buy After This Strategic Move?