Analyst Consensus ?
ConsensusHold13 ratings
Bullish753.8%
Neutral538.5%
Bearish17.7%
Banco Bilbao Vizcaya Argentaria, S.A. · BBVA · FY2026 Q2 · Calendar Q3 2026
BBVA pairs record earnings with higher guidance and broader AI rollout
The supplied analysis supports a constructive but conditional view: BBVA's record earnings, resilient loan growth, upgraded regional and ROTE guidance, and continued capital generation strengthen the operating case. The thesis depends on deposit-cost control, credit performance in Turkey and Argentina, and successful execution of the AI and digital-bank strategy.
Reported After market closeNYSEFinancial Services
$138.78B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.63
Consensus $0.59
EPS surprise
+6.8%
Reported versus consensus
Reported revenue
$12.09B
Consensus $11.94B
Revenue surprise
+1.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+1.3%
Event window
SPY move
+0.7%
Same window
Abnormal move
+0.5%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+3.8%
Up to 20 sessions
BBVASPY benchmark
Ask FN2 about BBVA FY2026 Q2
Transcript, numbers and history already loaded
Why did BBVA rise 1.3% after beating EPS estimates in FY2026 Q2?What changed in BBVA's guidance and outlook in FY2026 Q2?Give me the bull and bear case for BBVA after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter, BBVA added a €2bn extraordinary buyback program, expanded AI transformation toward an AI-agents framework, and introduced loan-level capital-planning tools. The current analysis also describes upgraded guidance for Mexico, South America and group ROTE, alongside slightly lower Turkey cost-of-risk guidance.
Guidance delta
Guidance was upgraded for Mexico, South America and group return on tangible equity; Turkey cost-of-risk guidance was slightly lowered.
Key takeaways
- Management described record earnings and high profitability, supported by loan growth and market-share gains in Spain and Mexico.
- The bank announced a new €2bn extraordinary share-buyback program while emphasizing organic growth and capital generation.
- AI strategy is moving from tool adoption toward governed deployment of AI agents at scale.
Management priorities
- Sustain organic growth and market-share gains in Spain and Mexico.
- Execute the new buyback and manage capital returns while maintaining capital discipline.
- Scale AI tools and agents with governance, performance measurement and broader digital-bank expansion.
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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 |
|---|---|---|---|---|
| ERIE Erie Indemnity Company | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +5.3% | Erie pairs resilient demand initiatives with thin underwriting margins |
| CBOE Cboe Global Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +7.8% | Cboe pairs broad growth with new products and higher guidance |
| NWG NatWest Group plc | FY2026 Q3 · Calendar Q4 2026 | — | -9.1% | NatWest keeps guidance as deposits and wealth management expand |
| 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
- WYFY2026 Q3 · October 29, 2026+128.3% EPS+3.0% move
- LNTFY2026 Q3 · October 29, 2026+16.0% EPS+1.4% move
- MTZFY2026 Q3 · October 29, 2026+0.3% EPS+0.8% move
- ERIEFY2026 Q3 · October 29, 2026+2.1% EPS+5.3% move
- IRFY2026 Q3 · October 29, 2026+18.5% EPS+0.2% move
- VLTOFY2026 Q3 · October 29, 2026+8.3% EPS+9.8% 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 · 2026-08-24T14:20:15.292996+00:00
- FN2 earnings calendar · 2026-09-04T01:23:15.205020+00:00
- Polygon adjusted daily market bars · 2026-10-31T01:10:42.786214+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.