Nelnet Q4 2022 GAAP net income $30.8M, down 77% YoY; adjusted EPS $0.98 vs $2.50

NELNET INC

2022-FY EPS reported $10.83

GAAP net income Q4 2022: $30.8M ($0.83 per share) vs $132.7M ($3.46) YoY.
Net income excluding derivative adjustments: $36.4M ($0.98 per share) vs $95.9M ($2.50) YoY.
AGM net interest income net of derivative settlements $79.3M, up from $64.3M; core loan spread 1.77% vs 1.36%.
Loan Servicing revenue $140.0M (down from $150.4M); servicing volume $587.5B (up from $529.0B).
Education Technology revenue $98.3M (up from $81.0M); segment net income $5.8M (down from $8.0M).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NELNET INC reported the fourth quarter of 2022 results: net income $30.8 million, EPS $0.83 per share.

Period: the fourth quarter of 2022
Net income: $30.8 million
EPS: $0.83 per share
Result: reported results

Exact text from the filing

Nelnet (NYSE: NNI) today reported GAAP net income of $30.8 million, or $0.83 per share, for the fourth quarter of 2022, compared with GAAP net income of $132.7 million, or $3.46 per share, for the same period a year ago.

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Source: SEC EDGAR

accession 0001258602-23-000025

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