Banco Macro Q1 Earnings Miss Street Forecasts, Revenue Falls Short

Banco Macro SA reported Q1 earnings of $42.5 million, or 65 cents per share, on revenue of $1.03 billion. Revenue net of interest expense was $759.4 million, missing Street forecasts. Banco Macro shares have declined 7% this year but are up 51% in the last 12 months, closing at $89.77.

Banco Macro S.A. (NYSE: BMA; BYMA: BMA) reported its first-quarter 2025 (1Q25) financial results, showcasing a significant decline in several key metrics compared to the previous quarter. The bank's net income totaled Ps.45.7 billion, a 59% decrease from the fourth quarter of 2024 (4Q24) [1]. This result was driven by a 9% quarter-over-quarter (QoQ) and 68% year-over-year (YoY) decline in operating income before expenses, which totaled Ps.801 billion [1].

Operating income after general and administrative (G&A) and personnel expenses also decreased, falling by 11% QoQ and 82% YoY to Ps.347.8 billion [1]. The bank's total financing increased by 22% QoQ to Ps.7.7 trillion, driven by a 21% increase in peso financing and a 22% increase in USD financing [1]. Total deposits grew by 5% QoQ to Ps.9.6 trillion, with private sector deposits increasing by 4% QoQ and peso deposits increasing by 15% while USD deposits decreased by 17% [1].

Banco Macro maintained strong financial health, with a capital adequacy ratio of 34.3% and excess capital of Ps.3.2 trillion. The bank's asset quality remained solid, with a non-performing loan ratio of 1.44% and a coverage ratio of 163.34% [1]. As of 1Q25, the bank serves 6.23 million retail customers and over 205,816 corporate customers through its 505 branches and 8,903 employees [1].

The bank's shares have declined 7% this year but are up 51% in the last 12 months, closing at $89.77 [2]. The earnings release conference call is scheduled for Thursday, May 29, 2025, at 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time [1].

References:
[1] https://www.morningstar.com/news/pr-newswire/20250528mx98010/banco-macro-announces-results-for-the-first-quarter-of-2025
[2] https://finance.yahoo.com/news/banco-macro-announces-results-first-213000834.html