Nelnet reports Q4 adjusted EPS $1.44 vs (2c) last year

Nelnet (NNI) Bank recognized provision for loan losses in the Q4 of $8.6M, or $6.5M after tax, compared with $2.6M or $2.0M after tax last year. “We are pleased with the results in the Q4 and optimistic about the opportunities ahead in 2025,” said Jeff Noordhoek, CEO of Nelnet. “This past year was a record-breaking one for Nelnet Business Services, one of our three core businesses. For Nelnet Diversified Services, 2024 was a year of strategic reinvestment as we transitioned to the new federal servicing contract and expanded our private loan servicing portfolio. Nelnet Financial Services focused on consolidation and alignment as part of our strategy to diversify assets and offset earnings from our legacy student loan portfolio. Our results reflect a balanced mix of success across different segments – exactly what we expect from a diversified company.”