Equity Profile

SAN

Banco Santander, S.A.

FinancialsDiversified Banks$179.7B

Apr29Wed

Post-Earnings Recap

ReportedQ1-2026Pre-Market1:00 AM EDT

Banco Santander Misses on EPS, Stock Up 0.00%

Metric	Actual	Expected	Surprise
EPS	$0.27	$0.28	-7.08%
Revenue	N/A	$15.0B	N/A

management commentary, guidance changes, and full analysis available with Pro.

Banco Santander Misses on EPS, Stock Up 0.00%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$0.27	$0.28	-7.08%
Revenue	N/A	$15.0B	N/A

Management Commentary

Tone: Cautiously Optimistic

Overall, management expressed a cautious outlook amid economic uncertainties. They highlighted ongoing efforts to enhance operational efficiency.

Management noted challenges in the current economic environment but remains focused on strategic initiatives.

They emphasized their commitment to maintaining strong capital ratios.

What It Means

Banco Santander's earnings report shows a slight miss on EPS expectations, which may raise concerns among investors. However, the stock reaction remained unchanged at 0.00%, indicating that the market may have already priced in these results. The lack of revenue data and forward guidance leaves some uncertainty about the company's future performance.

Company Snapshot

Banco Santander, S.A. is a major global bank based in Spain, providing a wide range of financial services including retail banking, corporate banking, and investment services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of the bank's profitability and financial health, reflecting how much profit is allocated to each share of stock.

$0.28

Revenue

Revenue figures provide insight into the bank's overall performance and growth, indicating how well it is generating income from its operations.

$15.0B

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

Original Pre-Earnings Preview

Context

Company Snapshot

Banco Santander, S.A. is a major global bank based in Spain, providing a wide range of financial services including retail banking, corporate banking, and investment services. As a key player in the financial sector, it is influenced by trends in consumer spending, interest rates, and economic conditions across the markets it operates in.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+7.32%

Avg Stock Reaction

+0.29%

Last Quarter Recap

In the last quarter, Banco Santander reported an impressive EPS of $0.77, significantly exceeding expectations. This strong performance contributed to a positive market reaction, with the stock rising 2.88% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Banco Santander to report steady earnings and revenue, with a consensus EPS of $0.28 and revenue of $15.0 billion. Investors are keen to see if the bank can maintain its momentum from the previous quarter.

Bull Case

If Banco Santander exceeds EPS expectations, it could signal strong operational efficiency and growth potential, leading to a positive market response.

Bear Case

Conversely, if the bank fails to meet earnings expectations, it may raise concerns about its ability to navigate economic challenges, potentially leading to a decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.28

EPS is a crucial indicator of the bank's profitability and financial health, reflecting how much profit is allocated to each share of stock.

Revenue

$15.0B

Revenue figures provide insight into the bank's overall performance and growth, indicating how well it is generating income from its operations.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Banco Santander's EPS exceed the consensus estimate of $0.28?

A beat on EPS could indicate strong profitability and operational efficiency, which would likely boost investor confidence.

What factors contributed to the revenue forecast of $15.0 billion?

Understanding the drivers behind revenue expectations will help gauge the bank's growth potential and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Banco Santander's ability to capitalize on improving economic conditions in key markets, leading to stronger-than-expected earnings.

Supporting Evidence

The bank's recent EPS surprise of +207.63% indicates potential for continued strong performance.

Options pricing suggests a significant move, reflecting market uncertainty that could lead to a positive surprise.

Key Risk

If the EPS comes in below $0.25, it could undermine the positive outlook and shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Banco Santander can sustain its recent performance amid economic uncertainties.

Bull Confirmed If

An EPS of $0.30 or higher would confirm the bull case, indicating strong financial performance.

Bear Confirmed If

An EPS below $0.25 would confirm the bear case, raising concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.4%

Historical Avg

±3.7%

Pricing rich

The options market is pricing in a significant move of 5.4%, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.4% while SAN has averaged ±3.7% over the last 8 prints — setup is pricing rich.

Detail

30d HV

42.9%

Calls (284K)P/C Ratio: 0.65Puts (179K)

Edge

Institutional Ownership

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

Mixed flows

Institutional

3.11%

of float

Insider

0.00%

of float

Holders

666

institutions

Top Holders· as of Dec 2025

Fisher Asset Management, LLC
96,865,591 sh · $1.2B
0.66%
-10.0%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Banco Santander beats expectations, history suggests a potential stock increase of around 0.26%, confirming strong operational performance.

In-Line / Cautious

If results come in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

If the bank misses earnings expectations, history suggests a potential decline of around 0.66%, raising concerns about its financial health.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality in key markets.
2Management's outlook on interest rate changes and their impact on profitability.
3Details on cost management initiatives and operational efficiencies.
4Insights into customer acquisition and retention strategies.
5Any commentary on macroeconomic factors affecting the bank's performance.

See the full picture

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Company Snapshot

Banco Santander, S.A. is a major global bank based in Spain, providing a wide range of financial services including retail banking, corporate banking, and investment services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of the bank's profitability and financial health, reflecting how much profit is allocated to each share of stock.

$0.28

Revenue

Revenue figures provide insight into the bank's overall performance and growth, indicating how well it is generating income from its operations.

$15.0B

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

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

+7.32%

Avg Stock Reaction

+0.29%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Banco Santander exceeds EPS expectations, it could signal strong operational efficiency and growth potential, leading to a positive market response.

Bear Case

Conversely, if the bank fails to meet earnings expectations, it may raise concerns about its ability to navigate economic challenges, potentially leading to a decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.28

EPS is a crucial indicator of the bank's profitability and financial health, reflecting how much profit is allocated to each share of stock.

Revenue

$15.0B

Revenue figures provide insight into the bank's overall performance and growth, indicating how well it is generating income from its operations.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Banco Santander's EPS exceed the consensus estimate of $0.28?

A beat on EPS could indicate strong profitability and operational efficiency, which would likely boost investor confidence.

What factors contributed to the revenue forecast of $15.0 billion?

Understanding the drivers behind revenue expectations will help gauge the bank's growth potential and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Banco Santander's ability to capitalize on improving economic conditions in key markets, leading to stronger-than-expected earnings.

Supporting Evidence

The bank's recent EPS surprise of +207.63% indicates potential for continued strong performance.

Options pricing suggests a significant move, reflecting market uncertainty that could lead to a positive surprise.

Key Risk

If the EPS comes in below $0.25, it could undermine the positive outlook and shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Banco Santander can sustain its recent performance amid economic uncertainties.

Bull Confirmed If

An EPS of $0.30 or higher would confirm the bull case, indicating strong financial performance.

Bear Confirmed If

An EPS below $0.25 would confirm the bear case, raising concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.4%

Historical Avg

±3.7%

Pricing rich

The options market is pricing in a significant move of 5.4%, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.4% while SAN has averaged ±3.7% over the last 8 prints — setup is pricing rich.

Detail

30d HV

42.9%

Calls (284K)P/C Ratio: 0.65Puts (179K)

Edge

Institutional Ownership

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

Mixed flows

Institutional

3.11%

of float

Insider

0.00%

of float

Holders

666

institutions

Top Holders· as of Dec 2025

Fisher Asset Management, LLC
96,865,591 sh · $1.2B
0.66%
-10.0%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Banco Santander beats expectations, history suggests a potential stock increase of around 0.26%, confirming strong operational performance.

In-Line / Cautious

If results come in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

If the bank misses earnings expectations, history suggests a potential decline of around 0.66%, raising concerns about its financial health.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality in key markets.
2Management's outlook on interest rate changes and their impact on profitability.
3Details on cost management initiatives and operational efficiencies.
4Insights into customer acquisition and retention strategies.
5Any commentary on macroeconomic factors affecting the bank's performance.