Axos Financial reports Q3 EPS $1.96, consensus $1.78

Reports Q1 NII $292.05M, up 38.3% y/y. “Net interest income increased by 12.3% and 38.3% linked-quarter and year-over-year, respectively, driven by further expansion in our net interest margin,” stated Greg Garrabrants, President and Chief Executive Officer of Axos. “Excluding the recognition of approximately $17 million of net interest income from the early payoff of certain loans purchased from the FDIC, our net interest margin for the three months ended September 30, 2024 was 4.87%, up 22 basis points from 4.65% last quarter. Diluted EPS was $1.93, an increase of 39.9% year-over-year.”