Medallion Financial Q4 net income $13.1M ($0.57/sh) vs $19.5M; FY net income $43.8M ($1.83/sh)

MEDALLION FINANCIAL CORP

2022-FY EPS reported $1.83

Q4 net income $13.1M ($0.57/sh) vs $19.5M ($0.78/sh); full-year $43.8M ($1.83/sh) vs $54.1M ($2.17/sh).
Net interest income up 22% to $43.6M (Q4) and 26% to $160.4M (FY); loan loss provision rose to $9.0M from $2.6M (Q4) and $30.1M from $4.6M (FY).
Loan originations flat at $191.9M (Q4); full-year up 32% to $983.9M. Recreation loans grew 23% to $1.2B; home improvement loans up 43% to $626.4M.
Declared $0.08/sh quarterly dividend payable Mar 31, 2023; repurchased 257,231 shares for $1.8M (Q4) and 2.65M shares for $20.6M (FY).
Adopted CECL on Jan 1, 2023, increasing allowance by $11.6M (consumer) and $2.2M (commercial). Medallion net exposure down 40% to $24.5M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MEDALLION FINANCIAL CORP reported the full-year ended December 31, 2022 results: revenue $160.4 million, net income $43.8 million, EPS $1.83 per share.

Period: the full-year ended December 31, 2022
Revenue: $160.4 million
Net income: $43.8 million
EPS: $1.83 per share
Result: reported results

Exact text from the filing

Net income was $43.8 million, or $1.83 per share, compared to $54.1 million, or $2.17 per share, in the prior year. • Net interest income grew 26% to $160.4 million from $127.8 million in the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MEDALLION FINANCIAL CORP reported the quarter ended December 31, 2022 results: revenue $43.6 million, net income $13.1 million, EPS $0.57 per share.

Period: the quarter ended December 31, 2022
Revenue: $43.6 million
Net income: $13.1 million
EPS: $0.57 per share
Result: reported results

Exact text from the filing

Net income was $13.1 million, or $0.57 per share, compared to $19.5 million, or $0.78 per share, in the prior year quarter. • Net interest income grew 22% to $43.6 million from $35.6 million in the prior year quarter.

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

MEDALLION FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-044803

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