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Sep 30, 2023
Newtekone Q3 2023 Earnings Report
Reported financial and operating results, demonstrating sequential growth and strong performance metrics as a financial holding company.
Key Takeaways
NewtekOne reported a net income of $10.0 million, or $0.37 per basic common share, for the three months ended September 30, 2023, representing a 42.3% increase on a per share basis compared to the previous quarter. The company's net interest income increased by 42.1% to $8.1 million, and it demonstrated strong capital levels, positioning it for continued growth.
Net income increased by 42.3% on a per share basis compared to the previous quarter, reaching $10.0 million, or $0.37 per basic common share.
Net interest income rose by 42.1% to $8.1 million compared to the three months ended June 30, 2023.
Total assets remained stable at $1.4 billion, while loans held for investment increased by 5.9% to $773.9 million.
The company forecasts full year 2023 earnings per share in a range of $1.60 to $1.80, and full year 2024 earnings per share in a range of $1.80 to $2.00.
Newtekone
Newtekone
Forward Guidance
The Company is forecasting full year 2023 earnings per share in a range of $1.60 to $1.80, and is currently forecasting full year 2024 earnings per share in a range of $1.80 to $2.00.