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Sep 30, 2021
Cass Q3 2021 Earnings Report
Cass reported a strong third quarter with increased diluted EPS and net income, driven by growth in transportation and facility-related volumes.
Key Takeaways
Cass Information Systems reported a 20% increase in third quarter diluted EPS to $0.48, up from $0.40 in the same period last year. Net income rose by 18% to $6.8 million. The company experienced growth in transportation and facility-related volumes, contributing to an 8% increase in revenues.
Third quarter revenue increased by 8% compared to the previous year.
Net income for the quarter rose by 18% year-over-year.
Transportation volumes for invoices and dollars increased by 8% and 40%, respectively.
Facility-related dollar volumes grew by 17% due to fewer pandemic-related restrictions and rising energy prices.
Forward Guidance
The board of directors authorized the repurchase of up to an additional 750,000 shares of common stock in future periods.
Positive Outlook
- Company's board of directors declared a fourth quarter dividend of $.28 per share
- Dividend is 4% higher than the previous rate of $.27 per share
- Company has continuously paid regularly scheduled cash dividends since 1934
- Company repurchased 435,000 shares of common stock for a total of $19.0 million over the first nine months of 2021
- Board's continued optimism about the company’s long-term prospects
Challenges Ahead
- The scope, duration and ultimate impact of the COVID-19 pandemic
- Economic and market conditions
- Risks of credit deterioration
- Interest rate changes
Historical Earnings Impact
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Avg. Return Before/After Earnings
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