Pathward Financial sells premium finance business for $603M; raises FY2025 EPS guidance to $7.25-$7.75

PATHWARD FINANCIAL, INC.

Completed sale of commercial insurance premium finance business for $603.3M cash on Oct 31, 2024.
Purchase price includes $31.2M premium; estimated after-tax gain of $13.8M.
Raised FY2025 GAAP EPS guidance to $7.25-$7.75 per diluted share.
Assumes two 25bp rate cuts in Nov & Dec 2024; NIM to exceed FY2024; tax rate 18-20%.
Expects $150-200M securities sale in Q1 FY2025, generating loss to offset pre-tax gain from sale.

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