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Lendingclub Corp. (LC)
NYSE:LC
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.09Last Year’s EPS
$0.09Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 30.82%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant achievements in revenue, originations, and credit performance, supported by strategic acquisitions and technology improvements. However, these positives were tempered by increased provisions for credit losses, a decline in net interest margin, and rising expenses.Company Guidance
In the third quarter of 2024, LendingClub reported strong financial performance with several key metrics highlighting its growth and strategic positioning. The company saw a 6% increase in originations, reaching $1.9 billion, while revenue grew by 8% to over $200 million. Pre-provision net revenue rose by 19% to $65.5 million, and GAAP net income was reported at $14.5 million. LendingClub's balance sheet expanded by 25% since the start of the year to over $11 billion in total assets. The company also successfully reintegrated a bank buyer, facilitating a $75 million loan sale, and completed a $400 million sale with a new bank partner. These developments are expected to contribute to more than $1 billion in additional loan purchases over the next 12 months. Additionally, LendingClub's Structured Certificates Program processed $830 million, emphasizing the company's robust financial strategy and market adaptability.Revenue and Originations Growth
Originations grew 6% sequentially to $1.9 billion, and revenue grew 8% to over $200 million. Pre-provision net revenue increased by 19% to $65.5 million.
Balance Sheet Expansion
The balance sheet has grown 25% since the beginning of the year to over $11 billion in total assets, a quadrupling since the acquisition of the bank in 2021.
Technology Acquisition
Acquired technology from Tally to enhance debt management solutions, expected to accelerate product roadmap and drive future revenue growth.
Strong Credit Performance
Credit performance remains strong, with net charge-offs declining 16% sequentially to $56 million and a net charge-off ratio of 5.4%.
Increased Member Engagement
The member base crossed the 5 million mark, with increased app engagement leading to a higher propensity for repeat product usage.
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LC 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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LC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $12.46 | $13.82 | +10.91% |
| Jul 30, 2024 | $11.19 | $12.51 | +11.80% |
| Apr 30, 2024 | $7.52 | $9.00 | +19.68% |
| Jan 30, 2024 | $8.74 | $9.02 | +3.20% |
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 Lendingclub Corp. (LC) report earnings?
Lendingclub Corp. (LC) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Lendingclub Corp. (LC) earnings time?
Lendingclub Corp. (LC) earnings time is at Feb 25, 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 LC EPS forecast?
LC EPS forecast for the fiscal quarter 2024 (Q4) is $0.09.
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