Nelnet Q1 GAAP EPS $1.97 vs $2.26 YoY; revenue rises in loan servicing, education tech

NELNET INC

2026-Q1 EPS reported $1.97

GAAP net income $71.1M ($1.97/diluted share) vs $82.6M ($2.26) year ago; adjusted net income $69.9M ($1.94).
Loan Servicing & Systems revenue $127.8M (+6% YoY) driven by Feb 2026 acquisition of NDS Canada (2.7M borrowers).
Education Tech & Payments revenue $154.4M; net income $36.3M vs $36.1M (seasonally strong Q1).
AGM net interest income $67.5M (up from $52.9M); provision for loan losses $48.5M primarily due to Pay Later receivables growth ($766.2M balance).
Board declared $0.33/share dividend payable June 15, 2026, record June 1.

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 0.7

NELNET INC reported the quarter ended March 31, 2026 results: net income GAAP net income of $71.1 million, or $1.97 per share, EPS $1.97 per share.

Period: the quarter ended March 31, 2026
Net income: GAAP net income of $71.1 million, or $1.97 per share
EPS: $1.97 per share
Result: reported results

Exact text from the filing

by securities laws. --- EX-99.1 (EX-99.1) --- Nelnet Reports First Quarter 2026 Results LINCOLN, Neb., May 7, 2026 - Nelnet (NYSE: NNI) today reported GAAP net income of $71.1 million, or $1.97 per share, for the first quarter of 2026, compared with GAAP net income of $82.6 million, or $2.26 per share, for the same period a year ago. Net income, excluding

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Source: SEC EDGAR

accession 0001258602-26-000032

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