NewtekOne Q1 EPS $0.38 beats forecast; raises FY2024 EPS guidance to $1.85-$2.05

NewtekOne, Inc.

2024-Q1 EPS reported $0.38

Q1 2024 net income $9.7M ($0.38 EPS); adjusted core EPS beats $0.17 in Q1 2023 (which excluded a $14.2M tax benefit).
Company raises full-year 2024 EPS forecast to $1.85–$2.05 from $1.80–$2.00.
Net interest income $8.9M, up 93.5% YoY; net interest margin expanded to 2.92% from 2.00%.
Total deposits at Newtek Bank reached $565.3M, up 8.9% sequentially and 299% YoY; quarterly dividend raised 5.5% to $0.19.
Loans held for investment $840.6M, up 4.3% QoQ; total assets $1.5B, up 7.1% from Dec 31, 2023.

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

NewtekOne, Inc. reported the three months ended March 31, 2024 results: net income Net income was $9.7 million, EPS $0.38 per basic and diluted common share. Guidance raised.

Period: the three months ended March 31, 2024
Net income: Net income was $9.7 million
EPS: $0.38 per basic and diluted common share
Guidance: raised
Result: reported results

Exact text from the filing

Net income was $9.7 million, or $0.38 per basic and diluted common share for the three months ended March 31, 2024

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Source: SEC EDGAR

accession 0001587987-24-000079

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