Newtek Q3: total inv. income $23.6M (+90% YoY); ANII $0.62 beats; raises FY SBA guidance to ~$775M

NewtekOne, Inc.

2023-Q3 EPS reported $1.43

Q3 net investment income $0.2M ($0.01/share) vs loss ($0.30)/share in Q3 2021; ANII $15.0M ($0.62/share) beats consensus $0.58.
Record Q3 SBA 7(a) loan fundings $223M (+36% YoY); raised full-year guidance to ~$775M (38% increase over 2021).
Total investment portfolio $785.6M (+10.3% YoY); NAV $16.04 per share vs $16.23 a year ago.
Q3 dividend paid $0.65/share; forecast Q4 dividend $0.70/share; total 2022 distributions ~$2.75/share.
Pending acquisition of NBNYC to convert to bank holding company; regulatory approvals still needed.

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

NewtekOne, Inc. reported the three and nine months ended September 30, 2022 results: revenue Total investment income of $23.6 million for the three months ended September 30, 2022, net income Net investment income (loss) of $0.2 million, or $0.01 per share, for the three months ended September 30, 2022. Guidance raised.

Period: the three and nine months ended September 30, 2022
Revenue: Total investment income of $23.6 million for the three months ended September 30, 2022
Net income: Net investment income (loss) of $0.2 million, or $0.01 per share, for the three months ended September 30, 2022
Guidance: raised
Result: reported results

Exact text from the filing

Newtek Business Services Corp. Reports Third Quarter 2022 Financial Results Record SBA 7(a) Loan Fundings of $223.0 Million Increased by 36.0% in the Third Quarter of 2022 Over the Same Period Last Year Raised Full Year 2022 SBA 7(a) Loan Funding Guidance to Approximately $775 Million

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NewtekOne, Inc. filing history →

Source: SEC EDGAR

accession 0001587987-22-000121

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