Popular (BPOP) Q2 FY2022 earnings: revenue $691 million, up 7.6% on the year

Popular, Inc. (BPOP) reported revenue of $691 million for Q2 FY2022, the quarter ended 30 June 2022, up 7.6% on the same quarter a year earlier. Net income was $211 million, down 3.1% on the year, and diluted earnings per share $2.77. The figures are the company's own, from the 10-Q it filed with the SEC on 9 August 2022.

Revenue$691 millionup 7.6%

Net income$211 milliondown 3.1%

Diluted EPS$2.77

QuarterQ2 FY2022ended 30 June 2022

The quarter, against the one before and a year earlier

Line	Q2 FY2022	Q1 FY2022	A year earlier	Change on the year
Revenue	691	649	n/a	n/a
Interest expense	37.9	35.4	n/a	n/a
Pre-tax income	276	262	n/a	n/a
Income tax	64.2	50.5	n/a	n/a
Effective tax rate	23.3%	19.3%	n/a
Net income	211	212	n/a	n/a
Net margin	30.6%	32.6%	n/a
Diluted EPS	$2.77	$2.69	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2022	Q1 FY2022	A year earlier	Change on the year
Operating cash flow	294	197	n/a	n/a
Capital expenditure	24.5	15.2	n/a	n/a
Free cash flow	270	182	n/a	n/a
Cash from investing	-2,532	4,490	n/a	n/a
Cash from financing	2,328	-4,677	n/a	n/a
Dividends paid	42.4	36.3	n/a	n/a
Dividend per share	$0.55	$0.55	n/a	n/a
Diluted shares, weighted	76m	79m	n/a	n/a
Shares outstanding at period end	77m	76m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2022	Q1 FY2022	A year earlier	Change on the year
Shareholders' equity	4,293	4,671	n/a	n/a
Deposits	65,328	62,862	n/a	n/a
Debt	959	1,061	n/a	n/a
Other liabilities	922	931	n/a	n/a
Total liabilities and equity	71,502	69,525	n/a	n/a
Fixed assets	490	488	n/a	n/a
Goodwill	720	720	n/a	n/a
Intangible assets	14.5	15.3	n/a	n/a
Securities held for sale or to maturity	27,930	26,436	n/a	n/a
Loans	29,689	28,910	n/a	n/a
Cash and equivalents	535	445	n/a	n/a
Other assets	12,122	12,509	n/a	n/a
Total assets	71,502	69,525	n/a	n/a

Questions

What was Popular's revenue in Q2 FY2022?

Popular (BPOP) reported revenue of $691 million for Q2 FY2022, the quarter ended 30 June 2022, up 7.6% on the same quarter a year earlier.

How much did Popular earn in Q2 FY2022?

Net income for Q2 FY2022 was $211 million, down 3.1% on the year, and diluted earnings per share $2.77.

When did Popular report Q2 FY2022 results?

Popular filed its 10-Q for the quarter ended 30 June 2022 with the SEC on 9 August 2022.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	659	666	649	691	1,006	718	694	692	694	703	715	735	737	755	758	800	818	824	836	874
Interest expense	40.8	38.0	35.4	37.9	71.6	154	207	262	311	333	343	354	365	329	311	312	320	298	277	288
Pre-tax income	332	282	262	276	490	207	205	195	182	93.1	159	218	198	222	223	258	247	279	293	324
Tax rate	25%	27%	19%	23%	14%	-24%	23%	22%	25%	-2%	35%	19%	21%	20%	20%	19%	15%	16%	16%	14%
Net income	248	206	212	211	422	257	159	151	137	94.6	103	178	155	178	178	210	211	234	246	278
Net margin	38%	31%	33%	31%	42%	36%	23%	22%	20%	13%	14%	24%	21%	24%	23%	26%	26%	28%	29%	32%
Diluted EPS	$3.09	$2.59	$2.69	$2.77	$5.70	$3.47	$2.22	$2.10	$1.90	$1.31	$1.43	$2.46	$2.16	$2.51	$2.56	$3.09	$3.14	$3.53	$3.78	$4.35
Operating cash flow	219	307	197	294	322	201	153	198	122	214	162	80.4	233	199	172	243	195	268	192	347
Capital expenditure	14.3	22.0	15.2	24.5	28.2	35.9	36.1	49.3	48.3	74.4	53.9	41.5	57.7	60.3	51.5	44.7	53.9	47.4	36.7	57.1
Free cash flow	204	285	182	270	294	165	117	149	73.4	139	108	38.9	176	139	121	198	141	221	155	290
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-59.1	n/a	n/a	n/a	-120	n/a	n/a	n/a
Dividends paid	36.6	36.7	36.3	42.4	42.5	40.3	39.9	39.9	39.9	40.1	45.0	45.2	45.3	45.0	49.9	48.8	48.2	50.7	49.9	49.0
Shares outstanding	80m	80m	76m	77m	73m	72m	72m	72m	72m	72m	72m	72m	72m	70m	69m	68m	67m	66m	65m	64m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2022, filed 9 August 2022: the filing.