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Mar 31, 2024
Cass Q1 2024 Earnings Report
Reported first quarter 2024 results, showing mixed performance amid freight recession and strategic investments.
Key Takeaways
Cass Information Systems reported Q1 2024 earnings of $0.52 per diluted share, a slight increase from $0.51 in Q1 2023 but a decrease from $0.61 in Q4 2023. The company saw growth in facility expense transaction volumes and processing fees, but declines in transportation dollar volumes and net interest income.
Net income increased slightly to $7.2 million, up 0.5% year-over-year.
Facility expense transaction volumes increased by 23.0%.
Processing fees grew by 8.9%, driven by higher facility transaction volumes.
Transportation dollar volumes decreased by 12.9% due to the ongoing freight recession.
Cass
Cass
Cass Revenue by Segment
Revenue by Segment
Net interest income Revenue
CapyFin.com Forward Guidance
The company has robust new business pipelines throughout its lines of business which should place them in a good position to grow clients and transactions.