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Sep 30, 2024
Newtekone Q3 2024 Earnings Report
Reported earnings of $0.45 per basic and diluted common share, driven by growth in deposits, loans, and the payments segment.
Key Takeaways
NewtekOne reported a net income of $11.9 million and EPS of $0.45 for the third quarter of 2024. The results were driven by growth in deposits, loans, and the payments segment.
Net income was $11.9 million, with EPS at $0.45 per basic and diluted common share.
Net interest income increased by 35.8% year-over-year to $11.0 million.
Total assets reached $1.7 billion, a 21.4% increase from December 31, 2023.
The Newtek Payments segment pretax income grew by 32.5% compared to the same period in 2023.
Newtekone
Newtekone
Forward Guidance
NewtekOne maintains its 2024 earnings per share forecast range of $1.85 to $2.05 and forecasts 2025 earnings per share in a range of $2.00 to $2.25.
Positive Outlook
- Maintaining 2024 EPS forecast range of $1.85 to $2.05 per basic and diluted common share.
- Forecasting 2025 EPS in a range of $2.00 to $2.25 per basic and diluted share.
- The company's three-year growth plan continues to fully develop without modification.
- The company will highlight capabilities in risk management and compliance.
- The company will highlight diversification of business lines.