Popular (BPOP) Tops Q3 EPS by 20c

Popular (NASDAQ: BPOP) reported Q3 EPS of $1.38, $0.20 better than the analyst estimate of $1.18. Revenue for the quarter came in at $451.47 million versus the consensus estimate of $432.69 million.

Ignacio Alvarez, President and Chief Executive Officer, said: “We delivered solid results for the quarter, as we continued to build on the positive momentum created during the first half of the year. We achieved strong top line revenue once again, with net interest income growing by $37 million. These results include the positive contribution of the Reliable acquisition which closed on August 1. Our credit metrics in Puerto Rico are trending favorably, reflecting the steady recovery of the Puerto Rico economy following the impact of Hurricanes Irma and Maria in September of 2017. We are also pleased with the growth of our commercial loan portfolio in our mainland U.S. operation and the execution of several capital actions during the quarter.”

For earnings history and earnings-related data on Popular (BPOP) click here.

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