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Research Alert: Ewbc: Q1 Earnings Beat As Revenue Growth Outperforms

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

EWBC posted strong Q1 2026 results with operating EPS of $2.57 vs. $2.08 a year ago, $0.10 above consensus. Q1 revenue of $774M beat consensus by 3% and rose 12% Y/Y and 2% Q/Q. It was another record quarter as the bank reported record levels of loans, deposits, and fee income, while maintaining healthy credit quality. Net interest income outperformed with 2% Q/Q growth while the net interest margin improved 8 bps to 3.49%, driven by a 21-bp decline in deposit costs to 2.84% that more than offset a 9-bp decrease in loan yields. Balance sheet growth remained robust with total loans reaching a record $58B (+2% Q/Q, +7% Y/Y) and deposits hitting $69B (+3% Q/Q, +9% Y/Y). Loan growth was well diversified across commercial and industrial, commercial real estate, and residential mortgage portfolios. Fee income surged 13% Q/Q to record levels, with wealth management fees more than doubling. The bank's funding optimization efforts continued to bear fruit in the competitive environment.

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Research Alert: Rio Tinto Delivers 9% Copper Equivalent Growth; All 2026 Guidance Unchanged

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Rio Tinto delivered solid Q1 2026 performance with 9% copper equivalent production growth despite weather challenges. Iron ore production reached 78.8Mt (up 13%) with strong performance, though sales growth was constrained to 2% at 72.4Mt due to tropical cyclones disrupting shipments by ~8Mt. We believe the diversified portfolio demonstrated resilience and scale advantages, with Oyu Tolgoi copper surging 56% to 102kt and Simandou achieving its first full shipment milestone. Management maintained 2026 guidance despite weather impacts, reflecting confidence in operational execution. The company successfully implemented the full USD650M of productivity benefits and completed the Resolution Copper land exchange, with drilling now underway at one of the world's largest untapped copper deposits. We expect continued strength from aluminum operations and Oyu Tolgoi's ramp-up toward 500kt annual production from 2028-2036, though two workplace fatalities underscore management's renewed safety focus.

$RIO
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Research Alert: Aapl: Tim Cook Steps Down Earlier Than Thought; Well Planned And Minimizes Risk

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AAPL announces CEO Tim Cook will step down September 1 after 15 years, with John Ternus (SVP Hardware Engineering) succeeding him, while Cook becomes Executive Chairman. Johny Srouji was promoted to Chief Hardware Officer, expanding his role beyond silicon to oversee all hardware engineering and technologies. We view this well-orchestrated succession as neutral to modestly positive despite being sooner than expected, addressing prior leadership continuity concerns while strategically pivoting from operational excellence to product-centric engineering leadership appropriate for AAPL's push into AI and foldables, among other categories. The four-month transition period with Cook's continued involvement as Executive Chairman mitigates execution risks (with Cook focusing on policy). Ternus brings 25 years of Apple experience, leading the Mac's Apple silicon transition and iPhone evolution. Srouji's elevation ensures continuity in Apple's silicon strategy, which has driven gross margins to the high-40% levels.

$AAPL
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Research Alert: Alk: Q1 Loss Widens On Fuel Headwinds; Company Suspends Full-year Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ALK reported Q1 adjusted EPS of -$1.68, widening from -$0.77 in the prior year and missing the -$1.55 consensus, while revenue of $3.3B (+5.2%) met expectations. Unit revenue rose 3.5%, led by strong corporate travel (+19%) and premium segments, but unit costs increased 6.3% from airport, maintenance, and pilot training pressures. The Hawaiian integration and Alaska Accelerate strategy are delivering results ahead of schedule, with Seattle-Tokyo achieving profitability and 90%+ load factors within a year of launch. Management suspended full-year guidance due to fuel cost volatility, though ALK maintains confidence in its long-term trajectory. Looking ahead, Q2 fuel costs are expected to average $4.50 per gallon, representing a 51% sequential increase and $600M headwind equivalent to $3.60/share. We believe the $10 2027 EPS target will be increasingly challenging given current fuel dynamics and guidance suspension, but operational excellence during integration demonstrates management's execution capabilities.

$ALK