Loading...
•
Mar 31, 2020
Cass Q1 2020 Earnings Report
Cass reported first quarter earnings, experiencing declines in revenue and net income due to COVID-19 impacts and lower interest rates.
Key Takeaways
Cass Information Systems reported a decrease in first-quarter earnings per share to $0.52, a 5% decrease from the $0.55 reported in Q1 2019. Net income also decreased to $7.5 million, compared to $8.2 million in the previous year. The company faced challenges due to COVID-19, which affected transportation and facility-related volumes.
First-quarter revenue decreased by 1% year-over-year.
Net income decreased by 8% compared to the first quarter of 2019.
Transportation volumes (invoices and dollars) decreased by 7%.
Facility-related invoice and dollar volumes decreased by 7% and 4%, respectively.
Cass
Cass
Cass Revenue by Segment
Revenue by Segment
Net interest income Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance but highlighted its commitment to supporting clients and securing its future by being a reliable business partner, providing financing and flexible terms, and adapting as necessary.