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

Issuer:     NELNET INC (NNI)
CIK:        0001258602
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001258602-23-000061
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nelnet Q2 GAAP EPS $0.75 vs $2.26 YoY; debt redemption charge $0.53/share
-------------------------------------------------------------------------

- GAAP net income $28.3M ($0.75/share) vs $85.1M ($2.26); adjusted EPS $0.71 vs $1.44.
- Early debt redemption caused $25.9M non-cash expense ($0.53/share after tax).
- AGM core loan spread fell to 1.06% from 1.61%; floor income dropped to $0.5M from $22M.
- Education Technology revenue $109.9M (+21% YoY); Loan Servicing revenue $122M (flat).
- Won USDS contract from Dept of Education; quarterly dividend maintained at $0.26/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1258602/000125860223000061/0001258602-23-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1258602/000125860223000061/nni-20230807.htm
  HTML page:      https://secwatch.observer/filing/0001258602-23-000061

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