archive

42 posts
$NU 1Q22: The Purple Wave public
LatAmCompanies 7 min read

$NU 1Q22: The Purple Wave

Nubank reported a $45mn net loss vs. the company-provided consensus of a $77mn loss. Similar NPL rises to the incumbent consumer segment, but without payroll and mortgage to smooth the hit.…
Giro Lino
Food for Thought #17 public
FoodForThought 10 min read

Food for Thought #17

Since Thursday, the market has been speculating that BTG Pactual and Stone would be negotiating an M&A — actually, BTG Pactual would be the buyer. Stone's gossip began in Dec of 2021 when the company hired JP Morgan to assess strategic options.…
Giro Lino
You Should Know $VTEX public
DailyCrunch 5 min read

You Should Know $VTEX

VTEX is an exciting firm. Even though most investors believe that SaaS companies offer similar products, the architecture they’re built upon plays with an impressive relevance in the product design.…
Giro Lino
Quality vs. Quantity ($XP) public
DailyCrunch 6 min read

Quality vs. Quantity ($XP)

After XP Inc. (XP) and BTG Pactual (BPAC11-BS) released their earnings, I’ve been thinking about the financial advising industry in Brazil and would like to tease my readers about a question I’ve been asking myself about XP.…
Giro Lino
Brazil April Wrap-Up public
DailyCrunch 6 min read

Brazil April Wrap-Up

After a solid start to the year and the recent sell-off, Brazilian stocks tumbled 10%, while the EWZ stumbled 14% in April — ended the month +16% YTD, though.…
Giro Lino
Food for Thought #16 public
FoodForThought 8 min read

Food for Thought #16

The week's most significant event was the FOMC decision to increase the Fed Funds Rate (“FFR”) by 50bps. Also, Powell said that 50bp increases in the FFR should be on the table at the next couple of meetings.…
Giro Lino
Pix Handbook - Part III public
whitepaper 16 min read

Pix Handbook - Part III

We believe this allowed newcomers and new products to emerge and threaten markets that — theoretically — were operating in a perfect competition environment.…
Giro Lino
3R Petroleum 1Q22 public
DailyCrunch 3 min read

3R Petroleum 1Q22

Adjusted EBITDA for the quarter came at R$199mn (+150% YoY). After adjusting for a one-off of R$11mn (goodwill from Areia Branca), adj. Ebitda was R$209mn, a touch above our expectations.…
Giro Lino
Cielo 1Q22 public
DailyCrunch 3 min read

Cielo 1Q22

We were surprised by Cielo’s earnings, which was the 6th beat in a row to market consensus. In addition, Consolidated Net Income reached R$ 184.6mn in 1Q22 (+10% above Street), +35.9% YoY, due to excellent well cost control.…
Giro Lino
XP 2Q22 public
DailyCrunch 4 min read

XP 2Q22

XP reported weaker-than-expected 1Q22 results after the market close. A softer quarter was already expected after KPIs were published on Apr 13th, but the numbers were disappointing.…
Giro Lino
Great! You’ve successfully signed up.
Welcome back! You've successfully signed in.
You've successfully subscribed to Giro's Newsletter.
Your link has expired.
Success! Check your email for magic link to sign-in.
Success! Your billing info has been updated.
Your billing was not updated.