Q1 net income $3.4M, EPS $0.14; credit costs $6M; TriumphPay EBITDA margin -13%

Triumph Financial, Inc.

2024-Q1 EPS reported $0.14

Net income to common $3.4M, diluted EPS $0.14 vs $0.43 a year ago; net interest income down $5.9M.
Total credit expense ~$6M, including $2.6M equipment finance bankruptcy and $1.7M reserve for construction loan growth.
TriumphPay EBITDA margin -13% due to Q1 seasonality and LoadPay investments; revenue up 1.7% QoQ, fee income up 46% YoY.
Payments network transaction volume up 40.4% QoQ; now touching ~44% of brokered freight, target 50% by end 2024.
Noninterest expense grew $3M QoQ; Q2 guidance $92-94M. Seasonally weak Q1 factoring volumes down 6%.

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 financial results for the quarter ended March 31, 2024.

Period: the quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 17, 2024, Triumph Financial, Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2024 in its letter to shareholders attached hereto as Exhibit 99.1.

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Source: SEC EDGAR

accession 0001628280-24-016580

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