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Sep 30, 2023
Meta Q4 2023 Earnings Report
Reported net income of $35.9 million, or $1.36 per share, compared to net income of $23.4 million, or $0.81 per share, for the three months ended September 30, 2022.
Key Takeaways
Pathward Financial, Inc. reported a strong Q4 2023 with a net income of $35.9 million, or $1.36 per share, a significant increase compared to the same quarter last year. Total revenue increased by 31% to $161.0 million, driven by growth in both net interest income and noninterest income. The company is raising its fiscal year 2024 GAAP earnings per diluted share guidance to a range of $6.20 to $6.70.
Net income for the quarter was $35.9 million, or $1.36 per share, compared to $23.4 million, or $0.81 per share, for the same period last year.
Total revenue increased by 31% to $161.0 million, driven by increases in both net interest income and noninterest income.
Net interest margin increased 98 basis points to 6.19% for the fourth quarter.
Total gross loans and leases increased by $829.8 million year-over-year to $4.37 billion.
Meta
Meta
Forward Guidance
The Company is raising fiscal year 2024 GAAP earnings per diluted share guidance to a range of $6.20 to $6.70. As part of this guidance, the Company expects that its annual effective tax rate in fiscal year 2024 will range between 16% and 20%.