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First National Financial (TSE:FN)
:FN
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.9Last Year’s EPS
0.95Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2018
|% Change Since: 0.78%
|Next Earnings Date:Jul 24, 2018
Earnings Call Sentiment|Neutral
The earnings call reflected a mixed performance for First National. While the company experienced growth in commercial origination volumes and improved market position, it also faced challenges such as decreased pre-fair market value income and lower single-family originations. The announcement of a special dividend and a record high in mortgages under administration were positive, but revenue declines and increased costs posed concerns.Company Guidance
In the Third Quarter 2024 earnings call for First National, the company reported a 21% year-over-year decline in pre-fair market value income, attributed mainly to a 20% reduction in single-family residential originations and an increase in direct securitization activities. Despite the lower origination volumes, First National retained its relative standing in the market, ranking second in funding and new commitment activity for the quarter. The company observed a 50% increase in new residential commitments compared to the previous year, indicating a potential rise in Q4 originations. Additionally, commercial mortgage originations were down 18% year-over-year, yet commercial origination grew by 17% for the first nine months of 2024. The company announced a special dividend of $0.50 per common share, reflecting strong retained earnings, and noted that mortgages under administration reached a record $150.6 billion. Looking ahead, First National expects tailwinds from interest rate reductions and a growing commitment pipeline to support higher year-over-year originations in Q4 and into 2025.Improved Market Position
First National improved its relative standing to rank second in both funding and new commitment activity in the broker channel despite a 20% year-over-year reduction in single-family residential originations.
Special Dividend Announcement
The Board approved a special dividend of $0.50 per common share, marking the eighth special dividend in the past nine years.
Record High Mortgages Under Administration
Mortgage under administration grew by 6% year-over-year to a record $150.6 billion, forming a foundation for future profitability.
Increased Commercial Origination Volumes
Commercial origination was 17% higher than last year, driven by multi-unit residential housing, despite overall lower renewal opportunities.
Higher Residential Commitments
New residential commitments were 50% higher compared to Q3 2023, indicating potential growth in future origination volumes.
Dividend Increase
The Board decided to increase the common share dividend effective with the December payment, marking the 18th increase since the IPO.
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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 |
|---|---|---|---|
| Oct 29, 2024 | C$39.99 | C$40.52 | +1.33% |
| Jul 30, 2024 | C$36.92 | C$35.67 | -3.39% |
| Apr 30, 2024 | C$36.35 | C$33.82 | -6.96% |
| Mar 05, 2024 | C$37.53 | C$34.82 | -7.22% |
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 National Financial (TSE:FN) report earnings?
First National Financial (TSE:FN) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is First National Financial (TSE:FN) earnings time?
First National Financial (TSE:FN) earnings time is at Mar 04, 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 2024 (Q4) is 0.9.
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