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Sep 30, 2021
Nelnet Q3 2021 Earnings Report
Reported GAAP net income of $53.1 million, or $1.38 per share.
Key Takeaways
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's core businesses delivered solid operating results in Q3 2021.
The company continues to focus on providing superior customer experiences.
Nelnet is pursuing investment opportunities for diversification and growth.
The company is focused on recruiting and retaining talented team members.
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.comNelnet Bank Revenue
CapyFin.com Forward Guidance
The company anticipates recognizing income in the fourth quarter of 2021 of $10 million to $15 million (pre-tax) to adjust its carrying value to reflect the October 15, 2021 transaction value, subject to final valuations of the equity classes. The company will record a derecognition of all or a portion of its negative investment balance (and record positive income up to $36 million (pre-tax)).
Positive Outlook
- Anticipates recognizing income in Q4 2021
- Equity raise completed on October 15, 2021
- The company will record a derecognition of all or a portion of its negative investment balance
- The company will record positive income up to $36 million (pre-tax)
- Joint venture completed a final securitization
Revenue & Expenses
Visualization of income flow from segment revenue to net income