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Live Oak Bancshares (LOB)
NYSE:LOB
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.54Last Year’s EPS
$0.36Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -16.20%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong quarter for Live Oak Bancshares with significant growth in loan production and PPNR, along with improvements in net interest margin. However, there were concerns about elevated provisions and specific loan impairments. The overall sentiment is positive, driven by the robust growth and strategic initiatives in place.Company Guidance
During the Q3 2024 earnings call for Live Oak Bancshares, the executives provided extensive guidance using various metrics. They reported exceptional loan production, with loan originations reaching approximately $1.8 billion, a 50% increase from the previous quarter, and highlighted a 7% quarter-over-quarter growth in loan balances. The company achieved an 18% growth in pre-provision net revenue (PPNR) on an adjusted basis compared to the last quarter, and a 22% increase year-over-year, driven by a 10% revenue growth and only 1% expense growth. The net interest margin expanded by 5 basis points to 3.33%, supported by a loan portfolio yield of 7.83% and a modest increase in cost of funds. Furthermore, the executives emphasized their strong credit quality, noting a reserve build due to the record loan growth and specific impairments. They also discussed the potential for continued growth, with small business lending efforts and robust pipelines contributing to their positive outlook for the remainder of the year and into 2025.Record Loan Production and Growth
Loan production topped previous high watermark by 50%, reaching approximately $1.8 billion in Q3 2024. Total loan and leases portfolio crossed the $10 billion mark with a 7% linked quarter growth and 16% year-over-year growth.
Strong PPNR Growth
PPNR growth was up 18% on an adjusted basis versus last quarter and 22% year-over-year. Over the last 12 months, PPNR increased by 29% driven by 10% revenue growth and only 1% expense growth.
Improvement in Net Interest Margin
Net interest margin increased by 5 basis points quarter-over-quarter to 3.33%, with net interest income up 6% from the previous quarter and 9% year-over-year.
Expanding Small Dollar SBA Lending
Live Oak Express, the small dollar SBA program, reached $100 million in production, with expectations to reach $125-$130 million by the end of the year.
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LOB 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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LOB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $46.74 | $46.61 | -0.28% |
| Jul 24, 2024 | $42.81 | $44.44 | +3.81% |
| Apr 24, 2024 | $39.78 | $34.20 | -14.03% |
| Jan 24, 2024 | $42.37 | $40.18 | -5.17% |
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 Live Oak Bancshares (LOB) report earnings?
Live Oak Bancshares (LOB) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Live Oak Bancshares (LOB) earnings time?
Live Oak Bancshares (LOB) earnings time is at Jan 22, 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 LOB EPS forecast?
LOB EPS forecast for the fiscal quarter 2024 (Q4) is $0.54.
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