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Sep 30, 2024
Meta Q4 2024 Earnings Report
Reported net income of $33.6 million, or $1.35 per share, for the three months ended September 30, 2024.
Key Takeaways
Pathward Financial, Inc. reported a solid financial performance for the fourth quarter of fiscal year 2024, with a net income of $33.6 million, or $1.35 per share. Total revenue increased by 4% compared to the same quarter in fiscal 2023, driven by an increase in net interest income. The company's net interest margin increased by 47 basis points to 6.66%.
Total revenue for the fourth quarter was $167.9 million, an increase of 4% compared to the same quarter in fiscal 2023.
Net interest margin increased 47 basis points to 6.66% for the fourth quarter.
Total gross loans and leases at September 30, 2024 decreased by $290.9 million compared to September 30, 2023.
During the 2024 fiscal fourth quarter, the Company repurchased 236,308 shares of common stock at an average share price of $63.44.
Meta
Meta
Forward Guidance
CEO Brett Pharr said, “2024 was a great year for Pathward... These successes translated to solid financial results as well. We reported earnings per diluted share of $6.62 for the fiscal year, which was just above the high end of our updated guidance range and represents year-over-year growth of 11%.”
Positive Outlook
- Recertified as a Great Place to Work
- Remained committed to our remote first approach
- Announced new partnerships
- Extended existing partnerships
- Partner Solutions team won Finovate’s Best Banking as a Service provider