Earnings call transcript: OFG Bancorp tops Q3 2026 EPS estimates, shares fall

OFG Bancorp reported stronger-than-expected third-quarter 2026 earnings of $1.33 per share, surpassing Wall Street's forecasted $1.23, while revenue slightly underperformed at $185.7 million against the $187.11 million forecast. Despite the beat, shares declined 3.38% in premarket trading, settling at $51.16. The company's core revenues remained flat, but profit grew 15% year-over-year due to lower expenses, a robust commercial lending segment, and enhanced credit quality.

Digital banking initiatives, such as AI-powered insights and increased online account openings, also contributed to the bank's performance. With a return on average assets of 1.86% and a return on average tangible common equity of 17%, OFG demonstrated solid profitability. The company resumed share repurchases, maintaining $180 million left under its authorization.