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Sep 30, 2024
Triumph Financial Q3 2024 Earnings Report
Reported net income to common stockholders and TriumphPay returned to EBITDA positive.
Key Takeaways
Triumph Financial reported a net income to common stockholders of $4.5 million, or $0.19 per diluted share, for the third quarter. Expenses were within the target range, and TriumphPay returned to a positive EBITDA.
The freight recession is ongoing, with bankruptcies occurring weekly, but capacity is leaving the system slowly.
Expenses were within the target range, remaining under $97 million and intending to do the same in Q4.
TriumphPay returned to EBITDA positive despite the freight recession and investments.
LoadPay and Factoring as a Service (FaaS) deployment has commenced with C.H. Robinson, aiming for $1 billion revenue from the transportation fintech platform.
Revenue by Segment
Forward Guidance
Triumph Financial does not provide forward guidance but anticipates Q4 expenses to remain below $97 million, with a possible one-time item related to tenant exits in the acquired headquarters building. Seasonality is expected to soften Q1 2025 earnings due to typical factoring volume reduction and expense pressures.
Positive Outlook
- Q4 expenses are expected to be below $97 million.
- Potential for a one-time item related to tenant exits in the acquired headquarters building.
- Long-term optimism remains despite potential short-term discomfort.
- Capital is well-stewarded, with $260 million of excess capital relative to the CET1 target.
- Value creation for long-term shareholders is a priority.
Challenges Ahead
- The freight market is currently soft.
- Catastrophic weather events and geopolitics will add volatility.
- Seasonality is expected to make Q1 softer.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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