Equity Profile

ITUB

ItaÃº Unibanco Holding S.A.

FinancialsDiversified Banks$86.9B

Aug4Tue

Pre-Earnings Brief

UpcomingQ4-2017After Close9:00 AM EDT

Company Snapshot

Itaú Unibanco Holding S.A. is a major Brazilian bank that provides a wide range of financial services, including retail banking, investment banking, and asset management....

Key Metrics to Watch

EPS

Earnings per share is a critical indicator of the bank's profitability and financial health.

$0.21

Revenue

Total revenue gives insight into the bank's overall business performance and growth.

$46.8B

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

ITUB Q4-2017 Earnings Preview

Context

Company Snapshot

Itaú Unibanco Holding S.A. is a major Brazilian bank that provides a wide range of financial services, including retail banking, investment banking, and asset management. As a key player in the financial sector, its performance can reflect broader economic trends in Brazil and Latin America.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-14.08%

Avg Stock Reaction

-2.99%

Last Quarter Recap

In the last quarter, Itaú reported an EPS of $0.28, which was above expectations, but the stock dropped by 2.54% the following day. This trend of mixed results has raised questions about the sustainability of its earnings growth.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Itaú to report steady earnings and revenue, reflecting a stable banking environment. However, there are concerns about potential economic headwinds.

Bull Case

If Itaú can exceed EPS estimates and show strong revenue growth, it may signal robust demand for its services and improved economic conditions.

Bear Case

Conversely, if the bank misses earnings expectations or shows signs of declining revenue, it could indicate deeper issues within the Brazilian economy.

Key Metrics to Watch

EPS

$0.21

Earnings per share is a critical indicator of the bank's profitability and financial health.

Revenue

$46.8B

Total revenue gives insight into the bank's overall business performance and growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $0.21?

A beat on EPS could boost investor confidence and signal strong operational performance.

What are the revenue growth prospects in the current economic climate?

Understanding revenue trends will help gauge the bank's ability to navigate potential economic challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of recent economic recovery signals in Brazil, which could lead to better-than-expected performance.

Supporting Evidence

The options market is pricing a larger move than historically realized, indicating potential for a surprise.

Recent insider selling may not reflect a lack of confidence but rather strategic portfolio adjustments.

Key Risk

If revenue growth exceeds $47B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is closely watching how Itaú performs against expectations given the mixed results in previous quarters.

Bull Confirmed If

An EPS of $0.22 or higher would confirm the bull case and indicate strong profitability.

Bear Confirmed If

An EPS below $0.21 would support the bear case and raise concerns about the bank's performance.

Pre-Earnings Positioning

Options Market

Implied Move

±14.5%

Historical Avg

±4.2%

Pricing rich

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

Options are pricing ±14.5% while ITUB has averaged ±4.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

30.7%

Calls (2K)P/C Ratio: 89.75Puts (0)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$1.0M

109,477 sh

1 insider

Net

$1.0M

Net selling

Most Active Insiders· 3 open-market trades

Chief People and MKT OfficerGuillinet Fajerman Sergio
$1.0M

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

33.14%

of float

Insider

0.00%

of float

Holders

533

institutions

Top Holders· as of Dec 2025

GQG Partners LLC
96,959,405 sh · $858.1M
1.79%
3.2%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Itaú beats expectations, history suggests a potential stock move of around +4.12%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may react moderately, reflecting uncertainty.

Miss

A miss could lead to a decline of about -2.80%, indicating investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality metrics.
2Insights into the bank's cost management strategies.
3Comments on macroeconomic conditions affecting the Brazilian market.
4Details on any new product offerings or market expansions.
5Management's outlook on future earnings and economic conditions.

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Company Snapshot

Itaú Unibanco Holding S.A. is a major Brazilian bank that provides a wide range of financial services, including retail banking, investment banking, and asset management....

Key Metrics to Watch

EPS

Earnings per share is a critical indicator of the bank's profitability and financial health.

$0.21

Revenue

Total revenue gives insight into the bank's overall business performance and growth.

$46.8B

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

ITUB Q4-2017 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-14.08%

Avg Stock Reaction

-2.99%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Itaú to report steady earnings and revenue, reflecting a stable banking environment. However, there are concerns about potential economic headwinds.

Bull Case

If Itaú can exceed EPS estimates and show strong revenue growth, it may signal robust demand for its services and improved economic conditions.

Bear Case

Conversely, if the bank misses earnings expectations or shows signs of declining revenue, it could indicate deeper issues within the Brazilian economy.

Key Metrics to Watch

EPS

$0.21

Earnings per share is a critical indicator of the bank's profitability and financial health.

Revenue

$46.8B

Total revenue gives insight into the bank's overall business performance and growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $0.21?

A beat on EPS could boost investor confidence and signal strong operational performance.

What are the revenue growth prospects in the current economic climate?

Understanding revenue trends will help gauge the bank's ability to navigate potential economic challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of recent economic recovery signals in Brazil, which could lead to better-than-expected performance.

Supporting Evidence

The options market is pricing a larger move than historically realized, indicating potential for a surprise.

Recent insider selling may not reflect a lack of confidence but rather strategic portfolio adjustments.

Key Risk

If revenue growth exceeds $47B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is closely watching how Itaú performs against expectations given the mixed results in previous quarters.

Bull Confirmed If

An EPS of $0.22 or higher would confirm the bull case and indicate strong profitability.

Bear Confirmed If

An EPS below $0.21 would support the bear case and raise concerns about the bank's performance.

Pre-Earnings Positioning

Options Market

Implied Move

±14.5%

Historical Avg

±4.2%

Pricing rich

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

Options are pricing ±14.5% while ITUB has averaged ±4.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

30.7%

Calls (2K)P/C Ratio: 89.75Puts (0)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$1.0M

109,477 sh

1 insider

Net

$1.0M

Net selling

Most Active Insiders· 3 open-market trades

Chief People and MKT OfficerGuillinet Fajerman Sergio
$1.0M

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

33.14%

of float

Insider

0.00%

of float

Holders

533

institutions

Top Holders· as of Dec 2025

GQG Partners LLC
96,959,405 sh · $858.1M
1.79%
3.2%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Itaú beats expectations, history suggests a potential stock move of around +4.12%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may react moderately, reflecting uncertainty.

Miss

A miss could lead to a decline of about -2.80%, indicating investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality metrics.
2Insights into the bank's cost management strategies.
3Comments on macroeconomic conditions affecting the Brazilian market.
4Details on any new product offerings or market expansions.
5Management's outlook on future earnings and economic conditions.