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Medallion Financial (MFIN)
NASDAQ:MFIN
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.38Last Year’s EPS
$0.6Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 4.90%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial results with significant growth in net income, loan originations, and an increased dividend, indicating confidence in future performance. However, the increased provision for credit loss, slight decline in net interest margin, and higher cost of funds present challenges. Despite these issues, the positive aspects significantly outweigh the negatives.Company Guidance
During the Medallion Financial Corp.'s Q3 2024 earnings call, the company reported a net income of $8.6 million, equivalent to $0.37 per share, with a year-to-date net income of over $25 million and $1.09 per share. The rec lending segment saw $139 million in new loan originations, marking a 50% increase from the previous year. The average interest rate for these loans was 14.92%, up 19 basis points year-on-year. Home improvement lending grew 8% to $814 million, with an average rate of 9.76%, while the commercial lending segment maintained a stable portfolio of $110 million with nearly a 13% average interest rate. The net interest margin on gross loans was 8.11%, slightly down by 1 basis point from the previous quarter. The provision for credit loss was $20.2 million, and net charge-offs were $13.4 million, or 2.18% of the average portfolio. The company also announced a 10% increase in quarterly dividends to $0.11 and completed a $1 million stock repurchase at an average price of $7.89 per share.Strong Net Income and Earnings Per Share
Medallion Financial Corp. delivered $8.6 million of net income and $0.37 earnings per share for Q3 2024. Year-to-date net income is over $25 million with $1.09 earnings per share.
Improved Loan Origination and Interest Rates
Recreation lending had $139 million in new loan originations, marking a 50% increase from the same quarter last year. The average interest rate on loans was 14.92%.
Increased Dividend
The Board increased the quarterly dividend by 10% to $0.11, reflecting confidence in the company's future and commitment to shareholder value.
Growth in Home Improvement Lending
Home improvement lending grew 8% over the prior year quarter, reaching $814 million, with an average interest rate of 9.76%.
Successful Capital Allocation
Repurchased $1 million of common stock at an average price of $7.89, with over $15 million remaining on the authorized share buyback plan.
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MFIN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MFIN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $9.32 | $9.26 | -0.64% |
| Jul 30, 2024 | $7.89 | $8.09 | +2.53% |
| Apr 30, 2024 | $7.10 | $7.48 | +5.35% |
| Feb 20, 2024 | $9.33 | $7.62 | -18.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Medallion Financial (MFIN) report earnings?
Medallion Financial (MFIN) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Medallion Financial (MFIN) earnings time?
Medallion Financial (MFIN) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MFIN EPS forecast?
MFIN EPS forecast for the fiscal quarter 2024 (Q4) is $0.38.
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