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Mar 31, 2020
Axos Financial Q3 2020 Earnings Report
Reported record earnings and maintained strong profitability in a volatile environment.
Key Takeaways
Axos Financial, Inc. announced record third quarter earnings for fiscal year 2020. Net income increased by 44.4% compared to the same quarter last year, driven by growth in the bank's loan and lease portfolio.
Net income was $56.1 million, up 44.4% year-over-year.
Earnings per diluted share were $0.91, a 44.5% increase year-over-year.
Total assets reached $12.2 billion, an 11.8% increase year-over-year.
Loan and lease originations were approximately $2.9 billion, up 14.8% year-over-year.
Axos Financial
Axos Financial
Axos Financial Revenue by Segment
Revenue by Segment
Banking Business Revenue
CapyFin.comSecurities Business Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to the effects on our business of the current novel coronavirus pandemic (“COVID-19”), Axos’ financial prospects and other projections of its performance and asset quality, Axos’ ability to continue to grow profitably and increase its business, Axos’ ability to successfully integrate its recent acquisitions and realize the anticipated benefits of the transactions, Axos’ ability to continue to diversify its lending and deposit franchises and the anticipated timing and financial performance of other offerings, initiatives, and acquisitions.
Positive Outlook
- Axos’ financial prospects and other projections of its performance and asset quality
- Axos’ ability to continue to grow profitably and increase its business
- Axos’ ability to successfully integrate its recent acquisitions and realize the anticipated benefits of the transactions
- Axos’ ability to continue to diversify its lending and deposit franchises
- Anticipated timing and financial performance of other offerings, initiatives, and acquisitions
Challenges Ahead
- Effects on our business of the current novel coronavirus pandemic (“COVID-19”)
- Changes in the interest rate environment
- Inflation
- Government regulation
- General economic conditions
Revenue & Expenses
Visualization of income flow from segment revenue to net income