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Dec 31, 2020
Meta Q1 2021 Earnings Report
Reported net income with increased earnings per share and improved efficiency ratio.
Key Takeaways
Meta Financial Group reported a strong first quarter for fiscal year 2021, with net income increasing to $28.0 million, or $0.84 per share, driven by solid revenues, lower expenses, and better efficiency ratios.
Net income increased to $28.0 million, or $0.84 per share, compared to $21.1 million, or $0.56 per share in the prior year.
Total revenue increased by 9% to $111.5 million compared to $102.1 million in the same quarter of fiscal 2020.
Operating efficiency ratio improved to 62.2% compared to 68.2% in the prior year.
Expanded solar lending business, increasing solar credit balance 29% to $323.9 million.
Meta
Meta
Forward Guidance
The company did not provide specific forward guidance in this earnings report.