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Mar 31, 2024
Nelnet Q1 2024 Earnings Report
Nelnet reported a strong first quarter in 2024, with increased net income and solid performance across core businesses.
Key Takeaways
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.
GAAP net income increased to $73.2 million, or $1.97 per share, for the first quarter of 2024.
Net income, excluding derivative market value adjustments, was $67.2 million, or $1.81 per share.
The company serviced $532.2 billion in loans for 15.9 million borrowers as of March 31, 2024.
Year-to-date, the company repurchased 817,826 Class A common shares for $75.3 million.
Revenue by Segment
Forward Guidance
This press release contains forward-looking statements within the meaning of federal securities laws and are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results and performance to be materially different from any future results or performance expressed or implied by such forward-looking statements.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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