Loading...
•
Mar 31, 2024
Axos Financial Q3 2024 Earnings Report
Announced strong financial results with increased net income and earnings per share.
Key Takeaways
Axos Financial, Inc. reported a strong third quarter for fiscal year 2024, with a 38.7% increase in net income to $110.7 million and a 44.7% increase in diluted earnings per share to $1.91 compared to the same quarter last year. The company saw growth in net interest income and non-interest income, driven by diversified channels across consumer and commercial banking.
Net income increased by 38.7% year-over-year, reaching $110.7 million.
Diluted earnings per share increased by 44.7% year-over-year, reaching $1.91.
Net interest income increased by 31.5% year-over-year, totaling $261.6 million.
Total assets reached $22.6 billion, an 11.3% increase from June 30, 2023.
Axos Financial
Axos Financial
Forward Guidance
This press release contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to Axos’ financial prospects and other projections of its performance and asset quality, Axos’ deposit balances and capital ratios, Axos’ ability to continue to grow profitably and increase its business, Axos’ ability to continue to diversify its lending and deposit franchises, the anticipated timing and financial performance of other offerings, initiatives, and acquisitions, expectations of the environment in which Axos operates and projections of future performance.
Positive Outlook
- Axos’ financial prospects and other projections of its performance and asset quality.
- Axos’ deposit balances and capital ratios.
- Axos’ ability to continue to grow profitably and increase its business.
- Axos’ ability to continue to diversify its lending and deposit franchises.
- The anticipated timing and financial performance of other offerings, initiatives, and acquisitions.
Challenges Ahead
- Axos’ ability to successfully integrate acquisitions and realize the anticipated benefits of the transactions
- Changes in the interest rate environment, monetary policy, inflation, government regulation, general economic conditions, changes in the competitive marketplace
- Conditions in the real estate markets in which we operate, risks associated with credit quality
- Our ability to attract and retain deposits and access other sources of liquidity
- The outcome and effects of litigation and other factors beyond our control.