Equity Profile

BMA

Banco Macro S.A.

FinancialsDiversified Banks$5.6B

Aug26Wed

Pre-Earnings Brief

UpcomingQ1-2024After Close5:00 PM EDT

Company Snapshot

Banco Macro S.A. is a diversified bank based in Argentina, providing a range of financial services to individuals and businesses....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the bank's profitability and performance this quarter.

$2170.18

Revenue

Revenue reflects the bank's ability to generate income from its operations, which is crucial for assessing growth.

$1193.6B

Wall Street expectations, options signals, track record, and call prep available with Pro.

BMA Q1-2024 Earnings Preview

Context

Company Snapshot

Banco Macro S.A. is a diversified bank based in Argentina, providing a range of financial services to individuals and businesses. With a market cap of $6 billion, it plays a significant role in the financial sector, especially as economic conditions in Argentina continue to evolve.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+65.50%

Avg Stock Reaction

+1.00%

Last Quarter Recap

In Q4 2023, Banco Macro reported an impressive EPS of $8.89, significantly exceeding estimates. However, revenue details were not disclosed, leading to a modest stock increase of 0.74% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Banco Macro's upcoming earnings, with expectations for strong EPS growth. However, there are concerns about the bank's ability to maintain revenue growth amid economic challenges.

Bull Case

If Banco Macro beats EPS estimates and shows strong revenue growth, it could signal robust financial health and attract more investors.

Bear Case

Conversely, if the bank misses EPS estimates or shows declining revenue, it could raise red flags about its financial stability, leading to a sell-off.

Key Metrics to Watch

Earnings Per Share (EPS)

$2170.18

EPS is a key indicator of the bank's profitability and performance this quarter.

Revenue

$1193.6B

Revenue reflects the bank's ability to generate income from its operations, which is crucial for assessing growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $2170.18?

A strong EPS result could indicate the bank's resilience and ability to navigate economic challenges, boosting investor confidence.

What are the revenue figures for this quarter?

Understanding revenue performance is crucial to assess the bank's growth trajectory and operational efficiency.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Banco Macro's ability to adapt to economic pressures, especially given its recent EPS performance.

Supporting Evidence

The bank has a strong track record of beating EPS estimates, with a 75% success rate over the last eight quarters.

Options pricing suggests a larger move than historical averages, indicating that traders may expect a significant shift in sentiment.

Key Risk

If revenue comes in below $1,050B, it could undermine the positive outlook and lead to a reassessment of the bank's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will reflect how well Banco Macro is managing through economic fluctuations in Argentina.

Bull Confirmed If

An EPS of $2,200 or higher, along with revenue exceeding $1,200B, would confirm the bull case.

Bear Confirmed If

An EPS below $2,000 or revenue falling short of $1,050B would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.49%

Historical Avg

±2.7%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±10.5% while BMA has averaged ±2.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

60.1%

Calls (14K)P/C Ratio: 0.03Puts (49K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Banco Macro beats expectations, history suggests the stock could rise by around 2.26%, confirming a strong financial position.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in the market.

Miss

A miss could lead to a decline of about 2.75%, indicating investor concerns about the bank's future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality.
2Management's commentary on economic conditions in Argentina.
3Insights into cost management strategies.
4Details on any new financial products or services.
5Guidance on future earnings expectations.

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Company Snapshot

Banco Macro S.A. is a diversified bank based in Argentina, providing a range of financial services to individuals and businesses....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the bank's profitability and performance this quarter.

$2170.18

Revenue

Revenue reflects the bank's ability to generate income from its operations, which is crucial for assessing growth.

$1193.6B

Wall Street expectations, options signals, track record, and call prep available with Pro.

BMA Q1-2024 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+65.50%

Avg Stock Reaction

+1.00%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Banco Macro beats EPS estimates and shows strong revenue growth, it could signal robust financial health and attract more investors.

Bear Case

Conversely, if the bank misses EPS estimates or shows declining revenue, it could raise red flags about its financial stability, leading to a sell-off.

Key Metrics to Watch

Earnings Per Share (EPS)

$2170.18

EPS is a key indicator of the bank's profitability and performance this quarter.

Revenue

$1193.6B

Revenue reflects the bank's ability to generate income from its operations, which is crucial for assessing growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $2170.18?

A strong EPS result could indicate the bank's resilience and ability to navigate economic challenges, boosting investor confidence.

What are the revenue figures for this quarter?

Understanding revenue performance is crucial to assess the bank's growth trajectory and operational efficiency.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Banco Macro's ability to adapt to economic pressures, especially given its recent EPS performance.

Supporting Evidence

The bank has a strong track record of beating EPS estimates, with a 75% success rate over the last eight quarters.

Options pricing suggests a larger move than historical averages, indicating that traders may expect a significant shift in sentiment.

Key Risk

If revenue comes in below $1,050B, it could undermine the positive outlook and lead to a reassessment of the bank's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will reflect how well Banco Macro is managing through economic fluctuations in Argentina.

Bull Confirmed If

An EPS of $2,200 or higher, along with revenue exceeding $1,200B, would confirm the bull case.

Bear Confirmed If

An EPS below $2,000 or revenue falling short of $1,050B would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.49%

Historical Avg

±2.7%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±10.5% while BMA has averaged ±2.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

60.1%

Calls (14K)P/C Ratio: 0.03Puts (49K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Banco Macro beats expectations, history suggests the stock could rise by around 2.26%, confirming a strong financial position.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in the market.

Miss

A miss could lead to a decline of about 2.75%, indicating investor concerns about the bank's future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality.
2Management's commentary on economic conditions in Argentina.
3Insights into cost management strategies.
4Details on any new financial products or services.
5Guidance on future earnings expectations.