Nelnet Earnings Reports

Nelnet's Q4 2024 revenue reached $401.41 million, reflecting strong performance in its core segments. GAAP net income was $63.2 million ($1.73 per share), a significant improvement from a net loss in Q4 2023. Excluding derivative market value adjustments, net income was $52.7 million ($1.44 per share). Loan Servicing and Systems revenue grew to $138.0 million, while Nelnet Bank expanded its loan and investment portfolio to $757.0 million. The company remains well-positioned for continued diversification and expansion in 2025.

Nelnet reported GAAP net income of $2.4 million, or $0.07 per share, for Q3 2024, a decrease compared to $44.4 million, or $1.18 per share, for the same period last year. The results were impacted by a non-cash provision expense related to loan securitizations and losses related to tax equity investments in solar projects. Revenue was reported from Loan Servicing and Systems, and Education Technology Services and Payments segments.

Nelnet reported a strong second quarter in 2024, with GAAP net income of $45.1 million, or $1.23 per share, compared to $27.4 million, or $0.73 per share, for the same period a year ago. The company's operating results and cash generation from its businesses continue to be strong, and it is capitalizing on market opportunities through loan acquisitions and strategic investments.

Nelnet reported GAAP net income of $73.2 million, or $1.97 per share, for Q1 2024, compared to $26.5 million, or $0.71 per share, for the same period last year. Excluding derivative market value adjustments, net income was $67.2 million, or $1.81 per share, compared to $54.9 million, or $1.47 per share, in Q1 2023. The company repurchased almost 818,000 shares of its common stock year-to-date.

Nelnet reported a GAAP net loss of $8.6 million, or $0.23 per share, for Q4 2023, compared to a net income of $30.8 million, or $0.83 per share, for the same period last year. Excluding derivative market value adjustments, the net loss was $1.3 million, or $0.04 per share, compared to a net income of $36.4 million, or $0.98 per share, in Q4 2022. The results were impacted by a net loss from the Nelnet Renewable Energy division of $40.3 million. Core fee-based businesses performed exceptionally well.

Nelnet's Q3 2023 GAAP net income was $45.3 million, or $1.21 per share, down from $104.8 million, or $2.80 per share, in the same period last year. Excluding derivative market value adjustments, net income was $42.9 million, or $1.15 per share, compared to $64.5 million, or $1.73 per share in 2022. The company is focusing on growth opportunities in its core fee-based businesses amidst the student loan portfolio runoff.

Nelnet reported GAAP net income of $28.3 million, or $0.75 per share, for the second quarter of 2023. The company's core operating businesses performed well, with notable contributions from the Education Technology, Services, and Payment Processing segment. Nelnet is actively assisting millions of federal student loan borrowers returning to repayment.

Nelnet reported a GAAP net income of $26.5 million, or $0.71 per share, for the first quarter of 2023. The company was also awarded a new, long-term federal student loan servicing contract.

Nelnet reported GAAP net income of $30.8 million, or $0.83 per share, for Q4 2022, compared to $132.7 million, or $3.46 per share, for the same period a year ago. Net income, excluding derivative market value adjustments, was $36.4 million, or $0.98 per share, compared to $95.9 million, or $2.50 per share, for the same period in 2021.

Nelnet reported GAAP net income of $104.8 million, or $2.80 per share, for the third quarter of 2022, compared with GAAP net income of $53.1 million, or $1.38 per share, for the same period a year ago. Net income, excluding derivative market value adjustments, was $64.5 million, or $1.73 per share, for the third quarter of 2022, compared with $47.6 million, or $1.23 per share, for the same period in 2021.

Nelnet reported GAAP net income of $85.1 million, or $2.26 per share, for the second quarter of 2022. The company made investments for long-term growth and value creation, including product and technology investments. Core loan servicing and payment processing businesses increased revenue and added customers.

Nelnet reported a strong first quarter with GAAP net income of $186.6 million, or $4.91 per share, compared to $123.6 million, or $3.20 per share, for the same period last year. The company's Loan Servicing and Systems segment saw revenue increase due to additional work on the TPD discharge program and increased servicing volume.

Nelnet reported a GAAP net income of $132.7 million, or $3.46 per share, for the fourth quarter of 2021. The company's Loan Servicing and Systems segment saw revenue increase to $150.4 million, driven by additional work on U.S. Department of Education contracts and servicing the former Wells Fargo loan portfolio. The Asset Generation and Management segment reported net interest income of $70.1 million.

Nelnet reported a GAAP net income of $53.1 million, or $1.38 per share, for the third quarter of 2021. The core businesses delivered solid operating results.

Nelnet reported a GAAP net income of $83.9 million, or $2.16 per share, for the second quarter of 2021, compared to $86.5 million, or $2.21 per share, for the same period a year ago. The company is focused on improving customer experiences, enhancing the work environment, and investing in business diversification.

Nelnet reported a strong first quarter in 2021 with GAAP net income of $123.6 million, or $3.20 per share, compared to a net loss in the same period last year. The company saw increased net interest income, a negative provision for loan losses, and improved contributions from its Loan Servicing and Systems and Education Technology segments.

Nelnet reported a strong fourth quarter in 2020, with a GAAP net income of $6.10 per share. The quarter was highlighted by the ALLO transaction, which accelerated their growth, and the company was selected to service the private student loans being sold by Wells Fargo.

Nelnet reported a GAAP net income of $71.5 million, or $1.86 per share, for the third quarter of 2020, compared to $33.2 million, or $0.83 per share, for the same period last year. The increase was primarily due to an increase in loan spread, a gain from the sale of consumer loans, and a gain related to changes in the fair values of derivative instruments. The operating results for the quarter were highlighted by the strong interest income generated by their loan portfolio and the recent launch of Nelnet Bank.

Nelnet reported GAAP net income of $86.5 million, or $2.21 per share, for the second quarter of 2020, compared to $24.6 million, or $0.61 per share, for the same period a year ago. The increase was primarily due to a $51.0 million gain from adjusting the carrying value of its investment in Hudl. Excluding derivative market value adjustments, net income was $89.5 million, or $2.28 per share.

Nelnet reported a GAAP net loss of $40.5 million, or $1.01 per share, for Q1 2020, compared to a net income of $41.6 million, or $1.03 per share, for the same period last year. The decrease was primarily due to the COVID-19 pandemic, which led to an incremental provision for loan losses and impairment charges on certain investments.

Nelnet reported GAAP net income of $42.4 million, or $1.06 per share, for Q4 2019, compared to $21.6 million, or $0.53 per share, for the same period the previous year. Excluding derivative market value adjustments, net income was $44.6 million, or $1.12 per share, compared to $58.8 million, or $1.44 per share in 2018.