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Jun 30, 2023
Nelnet Q2 2023 Earnings Report
Nelnet's financial performance reflected the strength of its core operating businesses, with strategic investments and expense management initiatives shaping the company's results.
Key Takeaways
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.
GAAP net income was $28.3 million, or $0.75 per share.
Net income, excluding derivative market value adjustments, was $26.7 million, or $0.71 per share.
Loan Servicing and Systems segment reported revenue of $122.0 million.
Education Technology, Services, and Payment Processing segment revenue increased to $109.9 million.
Nelnet
Nelnet
Nelnet Revenue by Segment
Revenue by Segment
Asset Generation & Management Revenue
CapyFin.comLoan Servicing & Systems Revenue
CapyFin.comEducation Technology Services & Payments Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements within the meaning of federal securities laws. The words “anticipate,” “assume," "believe,” “continue,” “could,” "ensure," “estimate,” “expect,” “forecast,” “future,” “intend,” “may,” “plan,” “potential,” “predict,” "scheduled," “should,” “will,” “would,” and similar expressions, as well as statements in future tense, are intended to identify forward-looking statements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income