XP Inc. - XP STOCK NEWS

XP Inc. (Nasdaq: XP) has announced a new share repurchase program approved by its board of directors. The program allows for the repurchase of up to R$1.0 billion worth of Class A common shares, either through open market or private transactions. The program will run from November 20th, 2024 to November 20th, 2025. XP plans to use existing cash to fund the repurchases, which will be executed through an appointed broker. The actual timing, number, and value of shares repurchased will depend on various factors, including price, market conditions, and alternative investment opportunities.

XP Inc. reported its Q3 2024 financial results, showing total client assets of R$1.2 trillion, up 12% YoY. The company achieved net revenue of R$4.3 billion (up 5% YoY) and record net income of R$1.2 billion (up 9% YoY). Key metrics include a 6% YoY increase in active clients to 4.7 million, and retail revenue growth of 10% YoY to R$3.5 billion. The company announced a dividend payment of R$2 billion and approved a new share repurchase program of R$1 billion. The efficiency ratio reached 35.5%, the lowest since IPO, while ROTE improved to 28.4%.

XP Inc. (NASDAQ: XP), a leading tech-enabled financial platform in Brazil, announced its 2Q24 financial results with significant growth metrics. Total client assets reached R$1.2 trillion, up 14% YoY and 2% QoQ, driven by R$32 billion net inflow. The gross revenue for the quarter was R$4.5 billion, marking a 21% YoY increase and a 5% QoQ rise. Net revenue stood at R$4.2 billion, reflecting a 19% YoY growth. Gross profit was R$2.94 billion, up 22% YoY with a gross margin of 69.7%, improved by 201 bps YoY. Net income for 2Q24 was R$1.1 billion, a 14% increase YoY. Basic EPS was R$2.05, up 11% YoY. The credit portfolio was R$19.3 billion, up 8% YoY but down 14% QoQ. Total active clients grew to 4.63 million, a 15% YoY increase. The annualized return on average equity (ROAE) was 22.1%.

XP Inc. (Nasdaq: XP), a leading technology-driven platform providing low-fee financial products and services in Brazil, has announced the cancellation of 12,650,574 Class A shares held in treasury. This decision, approved by the Company's Board of Directors, represents 2.3% of the total shares. As a result of this cancellation, XP's total share count has decreased from 549,630,977 to 536,980,403.

XP, a leading financial platform in Brazil, announced on June 27, 2024, the pricing of a $500 million senior unsecured notes offering with a 6.750% interest rate, maturing in 2029. The notes, guaranteed by XP Investimentos, are expected to close on July 2, 2024, subject to customary conditions. Proceeds will be used to repurchase 3.250% senior notes due 2026 and for general corporate purposes. The offering is for qualified institutional buyers under Rule 144A and persons outside the US complying with Regulation S. The notes are not registered under the Securities Act, limiting US sales to exempt transactions.

XP, a tech-driven financial services platform in Brazil, announced the results and expiration of its cash tender offer for US$736.4 million of 3.250% Senior Unsecured Notes due 2026. The tender offer expired on June 26, 2024, with $303.67 million worth of notes tendered. The purchase price is $946 per $1,000 principal amount of notes, plus accrued interest. Settlement is expected by July 2, 2024. XP also launched a new notes offering to secure funds for the purchase. The tender offer's completion is conditional upon successful financing.

XP Inc. (Nasdaq: XP), a leading financial services platform in Brazil, announced the commencement of a cash tender offer for its outstanding 3.250% Senior Unsecured Notes due 2026, with a total principal amount of $736,435,000. The offer, expiring on June 26, 2024, allows noteholders to tender their notes for a purchase price of $946 per $1,000 principal amount plus accrued interest. The tender offer is contingent on a concurrent financing transaction involving new notes issued by XP, the proceeds of which will partially fund the purchase of tendered notes. Noteholders must meet specified conditions to participate, and the offer may be amended or terminated at XP's discretion.

For more details, visit XP Inc. Cash Tender Offer

XP (Nasdaq: XP) announced the approval of a share repurchase program by its board of directors. The program allows XP to repurchase up to R$1.0 billion (~$200M USD) of its Class A common shares from May 23, 2024, to December 31, 2024. Repurchases may be executed in the open market or through private negotiations, subject to market conditions. The program will be funded by existing cash reserves and may be periodically reviewed, adjusted, or discontinued by the board. XP has authorized management to appoint a broker to handle the repurchase, potentially utilizing SEC Rule 10b-18 and Rule 10b5-1 safe harbors. The timing and volume of repurchases will depend on factors like market conditions and alternative investments.

XP Inc. (NASDAQ: XP) has released its Q1 2024 financial results, showcasing significant growth in various metrics. Total client assets climbed 20% YoY to R$1.141 trillion, with net inflows reaching R$15 billion. Gross revenue saw a 28% YoY increase to R$4.27 billion, driven by a 22% rise in retail revenue and a notable 91% surge in corporate and issuer services. Net revenue grew 29% YoY to R$4.053 billion, while net income was up 29% YoY at R$1.03 billion. Despite a slight QoQ decline in certain areas, such as cards TPV and retail daily average trades, the company maintained strong growth in its credit portfolio, gross written premiums, and total advisors. Operational efficiencies were also highlighted with improvements in compensation and efficiency ratios.