Analyst Consensus ?
ConsensusHold13 ratings
Bullish753.8%
Neutral538.5%
Bearish17.7%
Banco Bilbao Vizcaya Argentaria, S.A. · BBVA · FY2026 Q1 · Calendar Q2 2026
BBVA raises 2026 outlook as Spain and Mexico drive growth
BBVA’s stronger 2026 outlook is supported by loan growth, fees and efficiency initiatives in Spain and Mexico. The durability of that thesis depends on Turkey’s macro path, credit quality and execution of the group’s AI and digital-bank plans.
Reported After market closeNYSEFinancial Services
$133.27B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.60
Consensus $0.57
EPS surprise
+5.3%
Reported versus consensus
Reported revenue
$12.50B
Consensus $11.78B
Revenue surprise
+6.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-0.5%
Event window
SPY move
+0.3%
Same window
Abnormal move
-0.8%
Stock minus SPY
Volume
0.4×
Versus trailing sessions
Subsequent drift
+5.3%
Up to 20 sessions
BBVASPY benchmark
Ask FN2 about BBVA FY2026 Q1
Transcript, numbers and history already loaded
Why did BBVA fall 0.5% after beating EPS estimates in FY2026 Q1?What changed in BBVA's guidance and outlook in FY2026 Q1?Give me the bull and bear case for BBVA after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management raised its 2026 loan and gross-revenue growth outlook and improved its return-on-tangible-equity outlook. The call also highlighted continued buybacks and a broader AI transformation programme.
Guidance delta
Raised: 2026 loan and gross-revenue growth are now expected above 30% year over year, alongside an improved ROTE outlook.
Key takeaways
- Spain and Mexico were the main operating positives, with loan growth and infrastructure-linked opportunities in Mexico identified as important drivers.
- Fee businesses, efficiency work and cross-border corporate and investment banking activity add support beyond lending.
- Turkey remains the clearest counterweight because of inflation, rates, geopolitical uncertainty and cost-of-risk concerns.
Management priorities
- Scale AI across eight initiatives and embed it across the bank.
- Continue the share-buyback programme and manage capital allocation.
- Pursue loan growth in Mexico, expand digital banks in Italy and Germany, and maintain efficiency improvements.
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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
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Sources
- Earnings call transcript and parsed analysis · 2026-08-13T19:15:12.893297+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-31T22:21:42.222897+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 2026-10-31. For educational purposes only; not investment advice.