Loading...
•
Jun 30, 2021
Cass Q2 2021 Earnings Report
Cass reported an increase in second quarter diluted EPS and net income, driven by stronger performance in the manufacturing sector and new customer wins.
Key Takeaways
Cass Information Systems reported a 30% increase in second quarter diluted EPS to $0.48, compared to $0.37 in the same period last year. Net income increased by 29% to $7.0 million. Revenues increased by 13% to $38.4 million, driven by higher transportation and facility-related volumes.
Second quarter diluted EPS increased by 30% to $0.48 compared to 2020.
Net income for the second quarter increased by 29% to $7.0 million.
Transportation invoice volume increased by 30% and dollar volume increased by 57%.
Facility-related invoice and dollar volume grew by 2% and 19%, respectively.
Cass
Cass
Forward Guidance
The company is contending with historically low interest rates, which suppress their ability to earn interest income on record dollar volumes in transportation. They see transaction and dollar volumes rise throughout their business.