Group 1 - Samuel Smith has extensive experience in dividend stock research and investment, having served as lead analyst and Vice President at several firms [1] - He is a Professional Engineer and Project Management Professional with degrees in Civil Engineering & Mathematics and a Master's in Engineering focused on applied mathematics and machine learning [1] - Samuel leads the High Yield Investor investing group, collaborating with Jussi Askola and Paul R. Drake to balance safety, growth, yield, and value [2] Group 2 - High Yield Investor provides real-money core, retirement, and international portfolios, along with regular trade alerts and educational content [2] - The service includes an active chat room for like-minded investors, fostering community engagement and knowledge sharing [2]

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Core Viewpoint - Popular, Inc. (BPOP) reported a strong quarterly performance with adjusted earnings per share (EPS) of $2.56, exceeding expectations and showing significant year-over-year growth [1][2]. Financial Performance - The company's net income on a GAAP basis reached $177.5 million, reflecting a 71.9% increase year over year [2]. - Total quarterly revenues amounted to $757.7 million, surpassing the Zacks Consensus Estimate of $756.1 million and increasing by 6% from the previous year [3]. - Net interest income (NII) was reported at $605.6 million, a 10% rise year over year, with the net interest margin expanding by 24 basis points to 3.40% [3]. Income and Expenses - Non-interest income decreased by 7.2% year over year to $152.1 million, primarily due to lower income from mortgage banking activities and losses on equity securities [4]. - Total operating expenses fell by 2.5% year over year to $471 million, driven by reductions in personnel costs and other operating expenses [4]. Loans and Deposits - As of March 31, 2025, total loans held-in-portfolio increased slightly to $37.3 billion, while total deposits rose by 1.4% to $65.8 billion [5]. Credit Quality - The provision for credit losses was $64.1 million, down 11.7% from the prior year, indicating improved credit quality [6]. - Non-performing assets decreased by 15.8% year over year to $366.2 million, with the non-performing assets to total assets ratio improving to 0.49% [6]. Capital Ratios - As of March 31, 2024, the Common Equity Tier 1 capital ratio and Tier 1 capital ratio were 16.11% and 16.16%, respectively, showing a decline from the previous year [7]. Share Repurchase - In the reported quarter, the company repurchased 1,270,569 shares of common stock for a total of $222.3 million [8]. Strategic Outlook - The company is positioned to benefit from its business transformation efforts and modernization of customer channels, with an increase in loans and deposits strengthening its balance sheet [9].

Financial Data and Key Metrics Changes - Net interest income increased by $15 million, and net interest margin expanded by five basis points to 3.4%, primarily due to lower deposit costs [10][18] - Deposit balances grew by $935 million, with both banks contributing to the increase [11][20] - Tangible book value per share increased by nearly $4 to approximately $72, driven by quarterly net income and lower unrealized losses in the investment portfolio [12][30] - Total operating expenses were $471 million, an increase of $3 million compared to the previous quarter [24] Business Line Data and Key Metrics Changes - Loan balances increased by $146 million, primarily driven by the Commercial and Construction segments in Popular Bank [10][19] - Mortgage loan balances at Banco Popular increased by $136 million, driven primarily by home purchase activity [15] - Non-interest income was $152 million, a decrease of $13 million compared to the previous quarter [22] Market Data and Key Metrics Changes - The unemployment rate in Puerto Rico was 5.5%, remaining around all-time lows [14] - Combined credit and debit card sales for Banco Popular customers increased by approximately 6% compared to the first quarter of 2024 [15] - Passenger traffic at the San Juan International Airport increased by 11% during the quarter [16] Company Strategy and Development Direction - The company aims to continue its transformation efforts, focusing on strengthening its market-leading omnichannel experience and enhancing payment capabilities [71] - The ongoing disbursement of federal disaster recovery funds is expected to support economic activity in Puerto Rico for several years [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged recent market volatility due to tariff uncertainty but expressed confidence in the company's strong balance sheet and diversified business mix [13] - The company expects net interest income to increase by 7% to 9% this year, anticipating further net interest margin expansion [29] - Credit quality metrics improved during the first quarter, with lower early delinquencies and net charge-offs [32] Other Important Information - The company repurchased $122 million in shares at an average price of approximately $96 per share during the quarter [11][30] - The effective tax rate in the first quarter was 20%, with expectations for the year to be in the range of 19% to 21% [25] Q&A Session Summary Question: What are the implications of macro uncertainty and tariffs on investment in Puerto Rico? - Management noted that while the power grid is a concern, many industries, especially pharmaceuticals, are resilient and have their own power solutions [51][53] Question: Can you provide an update on deposit flows and seasonal growth? - Management indicated that deposit balances are about 35% higher on average compared to pre-pandemic levels, with positive momentum expected to continue [58][61] Question: What is the outlook for loan growth and potential payoffs? - Management acknowledged that while there is a positive outlook for loan growth, elevated payoffs and client uncertainty may temper growth expectations [120][121] Question: How does the company plan to achieve a sustainable 14% return on tangible common equity? - Management emphasized the need for execution across various areas, including deposit growth, expense control, and strategic decisions [136] Question: Will total fee income rebound after the recent decrease? - Management expects total fee income to increase, with guidance set between $155 million to $160 million per quarter for the year [144]

Investor Presentation First Quarter 2025 Cautionary Note Regarding Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those regarding Popular's business, financial condition, results of operations and objectives, performance, earnings and expenses. These statements are not guarantees of future performance, are based on the current expectations of Popular, Inc.'s manag ...

Core Viewpoint - Popular (BPOP) reported quarterly earnings of $2.56 per share, exceeding the Zacks Consensus Estimate of $2.26 per share, and showing an increase from $1.87 per share a year ago [1] Financial Performance - The earnings surprise for the quarter was 13.27%, with the company previously expected to earn $2.04 per share but actually earning $2.51, resulting in a surprise of 23.04% [2] - Popular's revenues for the quarter ended March 2025 were $757.66 million, surpassing the Zacks Consensus Estimate by 0.21%, and up from $714.56 million year-over-year [3] Stock Performance - Popular shares have declined approximately 4.9% since the beginning of the year, while the S&P 500 has decreased by 10.1% [4] - The current Zacks Rank for Popular is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The consensus EPS estimate for the upcoming quarter is $2.52 on revenues of $769.18 million, and for the current fiscal year, it is $10.04 on revenues of $3.11 billion [8] - The Zacks Industry Rank for Banks - Southeast is in the top 29% of over 250 Zacks industries, suggesting a favorable outlook for the sector [9]

Financial Performance - Net income for Q1 2025 was $177.5 million, slightly down from $177.8 million in Q4 2024[2] - EPS rose to $2.56 in Q1 2025, compared to $2.51 in Q4 2024[4] - Net income for Q1 2025 was $177.502 million, a slight decrease from $177.817 million in Q4 2024, but a significant increase from $103.283 million in Q1 2024, reflecting a year-over-year growth of 71.8%[63] - The effective tax rate for the first quarter of 2025 was 20.2%, compared to 19.8% for the previous quarter[29] - Return on average common equity improved to 10.07% in Q1 2025, compared to 9.94% in Q4 2024 and 6.07% in Q1 2024[60] - The return on average tangible common equity for the first quarter of 2025 is reported at 11.36%, an increase from 11.22% in the previous quarter[101] Income and Revenue - Net interest income increased to $605.6 million in Q1 2025, up $14.8 million from Q4 2024[4] - Total interest income for Q1 2025 was $916.998 million, a slight decrease of 0.3% from $919.767 million in Q4 2024, but an increase of 2.6% from $894.141 million in Q1 2024[62] - Net interest income after provision for credit losses rose to $541.516 million in Q1 2025, up 3.2% from $524.657 million in Q4 2024 and 13.3% from $478.146 million in Q1 2024[62] - Total non-interest income decreased to $152.1 million in Q1 2025, down from $164.7 million in Q4 2024[4] - Total non-interest income decreased to $152.061 million in Q1 2025, down 7.7% from $164.703 million in Q4 2024, but relatively stable compared to $163.818 million in Q1 2024[62] Assets and Liabilities - Total assets amounted to $74.0 billion at March 31, 2025, an increase of $993.2 million from the previous quarter[45] - Total liabilities increased to $68,238,911 thousand, up by $806,594 thousand from the prior quarter[64] - Total stockholders' equity increased to $5,799,695 thousand from the previous quarter, primarily due to net income of $177.5 million[45] - The total assets of the company reached $74,038,606,000 as of March 31, 2025, up from $73,045,383,000 at the end of 2024[101] Loans and Credit Quality - Loans held in portfolio rose to $37.3 billion, an increase of $146.4 million from Q4 2024[4] - Non-performing loans decreased by $36.7 million, with the NPLs to loans ratio at 0.84%[4] - The provision for loan losses for the first quarter of 2025 was $65.2 million, a decrease from $69.1 million in the previous quarter[39] - Net charge-offs for the quarter were $49.1 million, down $18.3 million from the fourth quarter of 2024, with an annualized NCO ratio of 0.53%[31][42] - Total non-performing assets decreased to $366.2 million as of March 31, 2025, from $408.0 million in the previous quarter[42] - The total current loans amount to $36.113 billion, reflecting a stable loan portfolio[85] - The total loans held-in-portfolio increased to $37.254 billion from $37.107 billion, indicating growth in the loan portfolio[85] Capital and Ratios - Common Equity Tier 1 ratio stood at 16.11% as of March 31, 2025[4] - Tier 1 capital ratio remained strong at 16.16% in Q1 2025, slightly up from 16.08% in Q4 2024[60] - The allowance for credit losses (ACL) as of March 31, 2025, was $762.1 million, an increase of $16.1 million from the previous quarter, resulting in an ACL to loans ratio of 2.05%[36][38] - The allowance for credit losses to loans held-in-portfolio increased to 2.05% from 2.01%[85] Shareholder Actions - Capital actions included the repurchase of 1,270,569 shares for $122.3 million during Q1 2025[4] - The Corporation repurchased 1.3 million shares of common stock at an average price of $96.24 during the first quarter of 2025[47] Market Performance - The market capitalization of Popular, Inc. was $6.372 billion as of March 31, 2025, down from $6.597 billion at the end of Q4 2024[60]

Company Overview - Popular (BPOP) shares increased by 6.5% to $86.91 in the last trading session, following a period of 6.6% loss over the past four weeks, indicating a significant recovery in stock performance [1][2] - The company operates Banco Popular and other banks in Puerto Rico and the U.S., with expected quarterly earnings of $2.26 per share, reflecting a year-over-year growth of 20.9% [3] Earnings and Revenue Expectations - Revenues for the upcoming report are projected to be $756.11 million, which is a 5.8% increase compared to the same quarter last year [3] - The consensus EPS estimate for Popular has been revised 0.8% higher in the last 30 days, suggesting a positive trend that may lead to further price appreciation [5] Market Sentiment and Industry Context - The stock price increase was driven by optimism following President Trump's announcement of a 90-day pause on import tariffs, which alleviated trade tension concerns and boosted investor confidence in the banking sector [2] - Popular is part of the Zacks Banks - Southeast industry, where another stock, Home BancShares (HOMB), also saw a 6.6% increase in its last trading session, although it has returned -9.5% over the past month [5]

Group 1 - Samuel Smith has extensive experience in dividend stock research and investment, having served as lead analyst and Vice President at notable firms [1] - He is a Professional Engineer and Project Management Professional with degrees in Civil Engineering & Mathematics and a Master's in Engineering focused on applied mathematics and machine learning [1] - Samuel leads the High Yield Investor investing group, collaborating with Jussi Askola and Paul R. Drake to balance safety, growth, yield, and value in investment strategies [2] Group 2 - High Yield Investor provides real-money core, retirement, and international portfolios, along with regular trade alerts and educational content [2] - The service includes an active chat room for investors to share insights and strategies [2]

Core Viewpoint - Beyond Oil Ltd. has expanded its distribution network in Israel by partnering with Raz-Natan Sales & Distribution Ltd. to enhance its presence in Eilat, a major tourism hub, thereby promoting healthier fried food options to millions of visitors [1][2][4]. Company Overview - Beyond Oil Ltd. is a food-tech innovation company focused on reducing health risks associated with fried food, improving sustainability, and lowering operational costs. The company has over 15 years of experience and offers patented technology that significantly reduces harmful compounds in frying oil [5]. - The company's product addresses the widespread practice of reusing frying oil, which poses health risks linked to cancer and cardiovascular diseases. Beyond Oil's solution aims to mitigate these risks while improving food quality and operational efficiency [5]. Partnership Details - The agreement with Raz-Natan, effective March 19, 2025, designates Raz-Natan as the exclusive franchisee for Beyond Oil's products in Eilat and the Arava region, which is home to numerous hotels, restaurants, and resorts catering to both international and domestic tourists [2][4]. - Fandango Collection & Recycling Ltd., Beyond Oil's exclusive Israeli distributor, will leverage its existing relationships with hotel chains in Eilat to facilitate the adoption of Beyond Oil's products [3][4]. Market Potential - Eilat attracts millions of visitors annually, providing a significant market opportunity for Beyond Oil's healthier frying solutions. The region's high concentration of food service businesses presents a strategic advantage for expanding the company's footprint [2][4].