Triumph Financial Q2 net income $1.9M ($0.08), misses by $3.3M; expenses rise 7.7% QoQ

Triumph Financial, Inc.

2024-Q2 EPS reported $0.22

Q2 net income $1.9M ($0.08 diluted EPS); missed consensus by ~$3.3M; revenue flat amid extended freight recession.
Expenses $97.3M (+7.7% QoQ); Q3 guided ~$97M; management plans to hold expenses flat thereafter, barring M&A.
Network engagement in brokered freight ~47% at Q2 end; targeting 50% by year-end; C.H. Robinson and ArcBest on board.
NPA ratio 1.60% (up from 0.68% a year ago); ACL to loans 0.92%; yield on loans 9.10%, cost of funds 1.62%.

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