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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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