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First Nat'l Fin Corp (TSE:FN)
TSX:FN
RESEARCH TOOLSreports
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.79Last Year’s EPS
0.74Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 04, 2025
|% Change Since: -2.09%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of strong growth in residential mortgage funding and commercial mortgages, as well as record mortgage tender administration, indicating positive momentum. However, challenges such as decreased pre-fair market value income, lower net interest margin, and increased operating expenses suggest areas of concern. The balance between highlights and lowlights suggests a cautiously optimistic outlook.Company Guidance
During the fourth quarter of fiscal year 2024, First National reported pre-fair market value income of $74.8 million, which was 3% lower than the previous year despite a notable increase in origination volumes. Total mortgage originations, including commercial mortgages, rose by 26.5% year-over-year to $2.1 billion, with a significant portion funded through securitization, deferring revenue recognition to future periods. In the single-family residential mortgage segment, funding increased by 43% compared to the prior year, marking the first favorable year-over-year comparison in 2024. The commercial mortgage segment saw an 8% increase in originations, driven by insured multi-unit residential housing initiatives supported by CMHC incentives. Mortgage tender administration grew 7% to reach $153.7 billion, setting a new record, while annual revenue increased by 10%. Despite a marginal increase in net interest on securitized mortgages, net interest margin was compressed to 53 basis points from 59 basis points due to higher asset-backed commercial paper costs. Operating expenses rose, with salaries and benefits up 17% year-over-year, partly due to 9% full-time equivalent growth. The Board increased the regular monthly common share dividend to an annualized rate of $2.50 and declared a special dividend of $0.50 per share.Significant Increase in Residential Mortgage Funding
Funded residential mortgages increased by 43% year-over-year in Q4, demonstrating strong growth in the residential mortgage segment.
Record Mortgage Tender Administration
Mortgage tender administration increased 7% year-over-year and 8% on an annualized basis in Q4 to reach $153.7 billion, setting a new record.
Strong Performance in Commercial Mortgage Segment
Commercial mortgage originations were up 8% in Q4, driven by demand for CMHC-insured multi-unit residential housing.
Revenue Growth in Q4
Fourth quarter revenue was up 19%, largely due to increased securitization of mortgage origination.
Increase in Annual Revenue
Annual revenue grew by 10%, reflecting a strategic decision to securitize more mortgage origination.
Resilient Arrears in Prime Portfolio
Prime portfolio arrears remained unchanged at 8-9 basis points, indicating stability despite higher interest rates in the previous term.
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TSE:FN 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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TSE:FN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 04, 2025 | C$39.66 | C$40.07 | +1.03% |
| Oct 29, 2024 | C$39.37 | C$39.89 | +1.32% |
| Jul 30, 2024 | C$36.35 | C$35.12 | -3.38% |
| Apr 30, 2024 | C$35.79 | C$33.30 | -6.96% |
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 First Nat'l Fin Corp (TSE:FN) report earnings?
First Nat'l Fin Corp (TSE:FN) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is First Nat'l Fin Corp (TSE:FN) earnings time?
First Nat'l Fin Corp (TSE:FN) earnings time is at Apr 29, 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 TSE:FN EPS forecast?
TSE:FN EPS forecast for the fiscal quarter 2025 (Q1) is 0.79.
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