XP Inc. (NASDAQ:XP) Q3 2024 Earnings Conference Call November 19, 2024 5:00 PM ET
Company Participants
Andre Parize – Head, IR
Thiago Maffra – CEO
Victor Mansur – CFO
Conference Call Participants
Thiago Batista – UBS
Eduardo Rosman – BTG
Yuri Fernandes – JPMorgan
Mario Pierry – Bank of America
Tito Labarta – Goldman Sachs
Neha Agarwala – HSBC
Daniel Vaz – Safra
Andrew Geraghty – Morgan Stanley
Henrique Navarro – Banco Santander
Thiago Maffra
[Abrupt Start]
…posting a 12% increase year-over-year. As we will see during the presentation, it’s important to mention that it was another consistent quarter regarding net inflows, aligned with our levers and our capacity to adapt becoming more relevant in fixed-income in the current scenario. We also increased our total number of advisors, reaching 18,400, growing 9% year-over-year, and continued to expand our active client base marking BRL4.7 million, increasing 6% year-over-year.
During the nine months 2024, gross revenues grew 17% year-over-year, reaching BRL13.3 billion. Our EBT posted 25% growth year-over-year, delivering BRL3.7 billion. Our net income reached BRL3.3 billion, expanding 17% year-over-year, and it was the highest in our history in the quarter at almost BRL1.2 billion with 27.5% margin. This set of results indicate that we are at the right pace to meet the 2026 guidance released in the last year’s Investor Day. We will go into more details on the financials later on.
Going to balance sheet and profitability. We ended the quarter with an ROTE of 28.4%, an increase of 258 bps year-over-year. Our managerial BIS ratio was 21.5%, and the EPS was BRL2.18 per share, the all-time high in our history.
On the right, you can see that EPS since the IPO grew almost 4 times, reaching BRL7.93 in the last 12 months. Today, we also announced an extra payout of BRL3 billion, contemplating dividends
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