secwatch.observer — SEC 8-K summary
======================================

Issuer:     NELNET INC (NNI)
CIK:        0001258602
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001258602-23-000047
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nelnet Q1 GAAP EPS $0.71 vs $4.91 YoY; adjusted EPS $1.47; new DoEd servicing contract
--------------------------------------------------------------------------------

- GAAP net income $26.5M ($0.71/sh) down from $186.6M ($4.91/sh) YoY; adjusted net income $54.9M ($1.47/sh) down from $75.9M ($1.99/sh).
- AGM segment net interest income $45.5M; provision for loan losses $31.9M vs negative provision in prior year.
- Terminated derivative portfolio on March 15 for $183.2M proceeds; post-quarter debt redemption caused $25.9M non-cash expense.
- Loan Servicing revenue $139.2M; awarded five-year USDS contract from Department of Education on April 24.
- Board declared $0.26/sh dividend, payable June 15 to holders of record June 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1258602/000125860223000047/0001258602-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1258602/000125860223000047/nni-20230508.htm
  HTML page:      https://secwatch.observer/filing/0001258602-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer