Analyst Consensus ?
ConsensusHold13 ratings
Bullish753.8%
Neutral538.5%
Bearish17.7%
Banco Bilbao Vizcaya Argentaria, S.A. · BBVA · FY2025 Q3 · Calendar Q4 2025
BBVA lifts Spain NII outlook as loan growth supports earnings momentum
BBVA’s earnings narrative is supported by loan growth and core-revenue expansion, with management’s raised Spain NII outlook reinforcing momentum. The durability of that growth remains dependent on margin resilience and control of credit, currency and expense pressures.
Reported Before market openNYSEFinancial Services
$129.37B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.49
Consensus $0.48
EPS surprise
+2.1%
Reported versus consensus
Reported revenue
$20.97B
Consensus $10.63B
Revenue surprise
+97.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.8%
Event window
SPY move
-1.1%
Same window
Abnormal move
-0.7%
Stock minus SPY
Volume
1.1×
Versus trailing sessions
Subsequent drift
+8.1%
Up to 20 sessions
BBVASPY benchmark
Ask FN2 about BBVA FY2025 Q3
Transcript, numbers and history already loaded
Why did BBVA fall 1.8% after beating EPS estimates in FY2025 Q3?What changed in BBVA's guidance and outlook in FY2025 Q3?Give me the bull and bear case for BBVA after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The supplied Q3 analysis highlights stronger-than-expected momentum in core banking, a raised Spain NII outlook and improved Mexico cost-of-risk guidance. Management also announced planned capital returns, with the buyback subject to ECB approval.
Guidance delta
Raised net interest income guidance for Spain and improved the cost-of-risk outlook for Mexico; the supplied analysis does not indicate a broader group-wide guidance revision this quarter.
Key takeaways
- Loan growth and core revenue expansion were the main supports to the quarter’s earnings narrative.
- Management’s Spain NII outlook moved higher, while its Mexico cost-of-risk outlook improved.
- Planned capital returns are part of the capital story, but the buyback remains subject to regulatory approval.
- The prior-quarter analysis also emphasized loan growth and efficiency goals, making execution and cost control continuing watchpoints.
Management priorities
- Continue profitable lending and seek market-share gains in core markets.
- Expand digital banking and customer acquisition in Europe.
- Grow CIB through cross-border trade finance and institutional relationships.
- Scale sustainable-finance activity while pursuing operating efficiency.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Neutral | Buy | Downgrade | Apr 20, 2026 |
| Barclays | Overweight | Equal Weight | Upgrade | Aug 7, 2025 |
| Berenberg | Hold | Sell | Upgrade | Aug 13, 2021 |
| Jefferies | Buy | Hold | Upgrade | Feb 25, 2021 |
| RBC Capital | Outperform | Sector Perform | Upgrade | Oct 19, 2016 |
| Exane BNP Paribas | Outperform | Underperform | Upgrade | Feb 10, 2016 |
| Goldman Sachs | Neutral | Buy | Downgrade | Apr 20, 2015 |
| Citigroup | Buy | Buy | Maintain | Jan 20, 2015 |
| Bank of America | Neutral | Underperform | Upgrade | Nov 24, 2014 |
| B of A Securities | Neutral | Underperform | Upgrade | Nov 24, 2014 |
| Deutsche Bank | Buy | Hold | Upgrade | Oct 15, 2014 |
| HSBC | Underweight | Neutral | Downgrade | May 15, 2013 |
| Societe Generale | Buy | Hold | Upgrade | May 9, 2013 |
Track every rating change on BBVA the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBanco Bilbao Vizcaya Argentaria, S.A., established in Bilbao, Spain, in 1857, operates as a comprehensive global financial services provider through its various subsidiaries. The institution specializes in retail banking, wholesale banking, and asset management. Its extensive product offerings include everyday current accounts, a variety of deposit options such as demand, savings, overnight, time, term, and subordinated deposits, along with numerous loan products. BBVA also trades in securities and manages both pension and investment funds. Additional services encompass credit cards, corporate and investment banking solutions, insurance products, and real estate services. The bank delivers these offerings through both online and mobile digital channels. As of December 31, 2021, its physical presence was robust, featuring 6,083 branches and 29,148 ATMs. Geographically, BBVA maintains operations across Spain, Mexico, South America, the United States, Turkey, Asia, and the wider European region.
Historical context
All BBVA earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CBOE Cboe Global Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.8% | +6.8% | Cboe posts strong Q3 as options growth and new products advance |
| NWG NatWest Group plc | FY2026 Q3 · Calendar Q4 2026 | +2.0% | -9.0% | NatWest maintains guidance as Q3 growth and capital remain strong |
| ERIE Erie Indemnity Company | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +5.3% | Erie pairs resilient demand initiatives with thin underwriting margins |
| COIN Coinbase Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1189.2% | -10.6% | Coinbase offsets lower spot trading with prediction markets and AI agents |
| TPG TPG Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.3% | +7.5% | TPG raises FRE margin outlook as capital formation accelerates |
| AJG Arthur J. Gallagher & Co. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +2.9% | AJG: Q3 growth and AssuredPartners synergies support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the BBVA recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-02T08:20:46.607150+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.