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Dec 31, 2022
Popular Q4 2022 Earnings Report
Popular's Q4 2022 financial results were announced, revealing a net income of $257.1 million.
Key Takeaways
Popular, Inc. reported a net income of $257.1 million for Q4 2022. The results included a tax benefit of $68.2 million related to the partial release of the deferred tax valuation allowance in the U.S.
Net income was $257.1 million in Q4 2022, which included a tax benefit of $68.2 million.
Net interest margin was 3.28% in Q4 2022.
Non-performing loans held-in-portfolio decreased by $14.0 million from Q3 2022.
The Corporation repurchased a total of 3,179,265 shares at an average purchase price of $72.66 under the ASR Agreement.
Revenue by Geographic Location
Forward Guidance
Popular plans to continue to leverage the benefits of the Evertec transaction and will focus on growing and deepening its strong commercial and retail franchise in P.R. as it continues to look for appropriate opportunities in the U.S. market.
Positive Outlook
- Leverage the benefits of the Evertec transaction.
- Focus on growing and deepening the strong commercial and retail franchise in P.R.
- Continue to look for appropriate opportunities in the U.S. market.
- P.R. will continue its growth path, albeit perhaps at a slower pace.
- Committed to continuing that transformation by investing in the future of our organization, our people and the communities we serve to meet future challenges and continue to provide value to our shareholders.
Challenges Ahead
- Aware of the macroeconomic headwinds related to inflation and geopolitical risks.
- Expected slowdown in the economy as a result of tight monetary policy.
- Weaker job growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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