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Sep 30, 2022
Triumph Financial Q3 2022 Earnings Report
Triumph Financial reported net income to common stockholders.
Key Takeaways
Triumph Financial reported a net income to common stockholders of $15.4 million, or $0.62 per diluted share, for the third quarter of 2022. TriumphPay's invoice volume increased 6.6%, and network transaction volume increased 21.7% despite freight market headwinds.
Net income to common stockholders was $15.4 million, or $0.62 per diluted share.
TriumphPay's invoice volume increased 6.6%.
TriumphPay's network transaction volume increased 21.7%.
Schneider National, Inc. has gone live with TriumphPay's audit product.
Revenue by Segment
Forward Guidance
The company expects Q1 2023 to be softer than usual, with a possible 10% drop in volumes from Q4 numbers.
Positive Outlook
- No one is going to be surprised by a slowdown in 2023.
- The company's strategy will continue to be based on the same disciplines that have worked for them for over a decade.
- The company is in as good of a position to handle a prolonged downturn as they ever have been.
- Investments made over the past three years to grow the transactional deposit base are bearing fruit in the current interest rate environment.
- The cost of core deposits has remained low.
Challenges Ahead
- The freight market began slowing.
- The company sold non-transportation factoring and equipment lending assets in Q2, resulting in a decline in revenue of about $5 million compared to prior quarters.
- Q1 2023 is going to be softer than usual, with a possible 10% drop in volumes from Q4 numbers.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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