earnings
confidence high
sentiment positive
materiality 0.75
Triumph Financial Q3 EPS $0.52; transportation revenue +37.8% YoY, 2027 EPS math ~$3.50
Triumph Financial, Inc.
- Net income to common $12.6M, or $0.52 diluted EPS; non-recurring items reduced EPS by $0.02; credit expense rose on CRE exposures.
- Transportation revenue +37.8% YoY, about a third organic; factoring operating margin 43.0%; Payments EBITDA margin ex-LoadPay 39.0%.
- Payments revenue $23.5M (+5.6% QoQ, +27.2% YoY); operating income $4.2M (+46.4% QoQ); LoadPay accounts 12,217 (+19.7% QoQ).
- 2027 North Star adds non-interest expense <$400M, requiring ~$20M efficiencies; management cites 2027 EPS math of ~$3.50.
- Added 706 net new factoring customers YTD; average invoice $2,210 in Q3 vs $2,288 first 16 days of Q4.