Capitol Federal revises FY2023 net loss to $101.7M, down from $111.7M; Q4 loss $140.4M

Capitol Federal Financial, Inc.

2023-FY EPS reported -$0.76 revenue$17,600,000

Revised FY2023 net loss of $101.7M ($0.76 per share) vs prior $111.7M ($0.84) due to reclassifying $13.3M pre-tax loss to Q1 FY2024.
Sold $1.30B of securities (94% of portfolio) in Oct 2023; used proceeds to buy $632M securities yielding 5.75% and pay down $500M borrowings at 4.70%.
Expects securities strategy to add ~$0.30 EPS and ~60bps to NIM in FY2024; earn-back period of 3.9 years.
Announced $0.085/share cash dividend payable Nov 17, 2023 to holders of record Nov 3.
Total assets expected to decline to ~$9.70B by Dec 31, 2023; tangible common equity >10%.

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 0.95

Capitol Federal Financial, Inc. reported fiscal year ended September 30, 2023 results: net income net loss of $101.7 million, or $(0.76) per share, EPS $(0.76) per share.

Period: fiscal year ended September 30, 2023
Net income: net loss of $101.7 million, or $(0.76) per share
EPS: $(0.76) per share
Result: preliminary results

Exact text from the filing

The impact to the Company’s income statement as a result of correcting the accounting treatment for the net losses on the securities sale reduced the Company’s net loss for fiscal year 2023 by $10.0 million, resulting in a net loss of $101.7 million, or $(0.76) per share, for the year, compared to a net loss of $111.7 million, or $(0.84) per share as was reported on October 25, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Capitol Federal Financial, Inc. reported the quarter ended September 30, 2023 results: net income net loss of $140.4 million, or $(1.05) per share, EPS $(1.05) per share.

Period: the quarter ended September 30, 2023
Net income: net loss of $140.4 million, or $(1.05) per share
EPS: $(1.05) per share
Result: preliminary results

Exact text from the filing

For the quarter ended September 30, 2023, the Company recognized a net loss of $140.4 million, or $(1.05) per share, compared to net income of $8.3 million, or $0.06 per share, for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001490906-23-000025

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