Triumph Financial Q1 net income $10.2M ($0.43 EPS); factoring revenue down on freight recession

Triumph Financial, Inc.

2023-Q1 EPS reported $0.43

Net income to common stockholders $10.2M ($0.43 diluted EPS), down from $23.5M ($0.93) in Q1 2022.
Factoring purchased volume fell 27.6% YoY to $2.93B; average invoice size dropped 20.4% to $1,911.
TriumphPay payment volume $5.03B (-9.8% QoQ); network transaction volume up 1.5% despite market headwinds.
Added $500M FHLB advances in March for liquidity; total available liquidity over $1.5B.
Past-due factoring receivables improved $32M QoQ; enterprise past-due ratio fell to 1.67% from 2.53%.

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

Triumph Financial, Inc. reported the quarter ended March 31, 2023 results: net income $10.2 million, EPS $0.43 per diluted share.

Period: the quarter ended March 31, 2023
Net income: $10.2 million
EPS: $0.43 per diluted share
Result: reported results

Exact text from the filing

For the first quarter, we earned net income to common stockholders of $10.2 million, or $0.43 per diluted share.

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Source: SEC EDGAR

accession 0001628280-23-012928

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