Popular: Q4 Financial Highlights

Popular Inc. Reports Strong Fourth-Quarter Results

Popular Inc., headquartered in Hato Rey, Puerto Rico, announced on Tuesday that it achieved a net income of $233.9 million for the fourth quarter.

The financial institution, which operates Banco Popular and additional banks in Puerto Rico and the United States, reported earnings of $3.53 per share. When excluding one-time gains, adjusted earnings were $3.38 per share.

These figures exceeded analysts’ expectations. According to a survey by Zacks Investment Research, the consensus estimate among three analysts was $3.02 per share.

During the quarter, Popular Inc. generated $1.12 billion in total revenue. After accounting for interest expenses, net revenue stood at $823.8 million, also surpassing Wall Street projections.

For the full year, the company recorded a profit of $833.2 million, or $12.30 per share, with annual revenue reaching $3.2 billion.

Since the start of the year, Popular’s stock price has dipped just over 1%. However, over the past year, shares have climbed by 21%.