Medallion Financial Q1 EPS $0.42 vs $0.67; credit provision soars to $17.2M from $4.0M

MEDALLION FINANCIAL CORP

2024-Q1 EPS reported $0.42

Net income $10.0M ($0.42 diluted EPS) vs $15.4M ($0.67) in Q1 2023, down 35%.
Net interest income grew 10% to $47.9M from $43.6M; net interest margin on net loans 8.39%.
Credit loss provision increased to $17.2M from $4.0M, driven by consumer lending seasonality and lower medallion recoveries.
Loan originations declined to $173.1M from $227.3M; total loans grew 12% to $2.2B.
Declared quarterly dividend $0.10/share; repurchased 264,160 shares for $2.1M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MEDALLION FINANCIAL CORP reported quarter ended March 31, 2024 results: net income $10.0 million, EPS $0.42 per share.

Period: quarter ended March 31, 2024
Net income: $10.0 million
EPS: $0.42 per share
Result: reported results

Exact text from the filing

announced today its results for the quarter ended March 31, 2024. 2024 First Quarter Highlights • Net income was $10.0 million, or $0.42 per share

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292 earnings releases filed in the last 30 days. Browse all earnings releases →

MEDALLION FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000950170-24-050529

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