Nelnet Q3 GAAP EPS $1.21 vs $2.80 YoY; loan portfolio runoff continues

NELNET INC

2023-Q3 EPS reported $2.67

GAAP net income $45.3M ($1.21/sh) vs $104.8M ($2.80/sh) in Q3 2022; adjusted EPS $1.15 vs $1.73.
AGM net interest income $51.5M, down from $62.9M; average loan balance $13.2B vs $15.5B.
Loan Servicing segment revenue $127.9M vs $134.2M; servicing 16.2M borrowers with $539.3B in loans.
Education Tech segment revenue $113.8M, up from $106.9M; net income $16.8M vs $14.1M.
Board declares $0.28/sh dividend payable Dec 15; impairment $5.0M on real estate leases.

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 0.9

NELNET INC reported the third quarter of 2023 results: net income GAAP net income of $45.3 million, or $1.21 per share, EPS $1.21 per share.

Period: the third quarter of 2023
Net income: GAAP net income of $45.3 million, or $1.21 per share
EPS: $1.21 per share
Result: reported results

Exact text from the filing

On November 7, 2023, Nelnet, Inc. (the “Company”) issued a press release with respect to its financial results for the quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001258602-23-000072

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