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Analyst
Lucas Esteves
Lucas Esteves of Santander asked 3 questions on 2 earnings calls at one company Tellvest tracks, from 2026 Q1 to 2026 Q3. Esteves' most common topics are Margin, Capex Investment and Competitive Dynamics. Esteves' most recent question was on MercadoLibre's 2026 Q3 call, about Capex Investment and Margin.
Period: Reporting periods mapped to calendar 2026 Q1 – 2026 Q3 (3 quarters; questions recorded in 2).
- Questions
- 3on tracked calls
- Challenge rate
- 0%none of 3 questionsLimited sample
- Companies
- 1questioned at least once
- Reporting periods
- 2with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right. See how we grade analysts on earnings-call questions.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 3 of 3 questions from 1 company
MELIMercadoLibre3 questions · 2 reporting periods · 0 of 3 challenging
Calendar 2026 Q3
how should we think about the sustainability of that margin premium?
Show response
Ariel cited Mercado Pago's primacy and high e-commerce share in Argentina and a steadier position against Asian rivals, but gave no margin view.
How quickly do you expect that capacity to be filled? And should the associated costs largely dilute in '27?
Show response
Martin said the 20% capacity add serves peak and future growth, will fill over time to aid unit economics, and new facilities will keep coming each quarter.
Calendar 2026 Q1
those category of credits have lower spreads than credit cards, but accrue interest over the full balance compared to credit cards
Show response
Osvaldo clarified consumer/merchant spreads are actually better than credit card. Credit card causes initial loss from provisioning full lines. Expects spread expansion in personal loans as repayment patterns become clearer.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| MELI MercadoLibre | 3 | 0%none of 3 questions |
- MELIMercadoLibre · 3 questions0%none of 3 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
| 2026 Q2 | No questions recorded | — | — |
| 2026 Q3 | 2 | 0%none of 2 questions | 1 |
- 2026 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q2No questions recorded
- 2026 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Margin3
- Competitive Dynamics1
- Capex Investment1
- Credit1