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Is UBS Group AG (UBS) a 'Buy' Ahead of Q2 Earnings Announcement?
Switzerland-based UBS Group AG (UBS - Free Report) is set to report second-quarter earnings results on Wednesday before the opening bell. Offering a host of financial-related services such as personal banking, investment advice and solutions, lending, wealth planning, and investment banking, UBS is currently a Zacks Rank #3 (Hold) stock.
Ranked in the top 20 global banks by total assets, UBS exceeded its Q1 EPS mark back in May. First-quarter earnings per share of $0.52 marked a 126.1% earnings beat. But with earnings expected to plunge in the second quarter, is UBS stock a buy ahead of the announcement?
UBS is expected to post a profit of $0.12/share, reflecting a -93.6% plunge versus the same quarter last year. Estimates for Q2 have been slashed by -45.5% over the past 60 days. Revenues are projected to rise 19.7% to $11.42 billion.
The company remains on track to complete its integration of Credit Suisse by the end of 2026. But the bank’s escalating expense base is concerning as it exposes the company to operational risks. Our proprietary Zacks Model does not conclusively predict another earnings beat.