Nelnet Reports Third Quarter 2024 Results
Nelnet, Inc. (NNI)
US:NYSE Investor Relations:
nelnet.com/investors
Company Research
Source: PR Newswire
LINCOLN, Neb., Nov. 7, 2024 /PRNewswire/ -- Nelnet (NYSE: NNI) today reported GAAP net income of $2.4 million, or $0.07 per share, for the third quarter of 2024, compared with GAAP net income of $44.4 million, or $1.18 per share, for the same period a year ago.Net income, excluding derivative market value adjustments1, was $12.4 million, or $0.34 per share, for the third quarter of 2024, compared with $42.0 million, or $1.12 per share, for the same period in 2023.The third quarter 2024 operating results included the following items.A non-cash provision expense of $29.0 million ($22.0 million after tax, or $0.60 per share) related to the company's ownership of beneficial interest in loan securitizations. A credit allowance was recorded on certain of these investments due to a change in estimate of future cash flows caused primarily by an increase in cumulative net loss rates for certain transactions and loan vintages. Over the life of these securitizations, the company still anticipate
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NNI
Earnings
- 11/7/24 - Miss
NNI
Sec Filings
- 11/7/24 - Form 10-Q
- 11/7/24 - Form 8-K
- 10/30/24 - Form 8-K
- NNI's page on the SEC website