NewtekOne, Inc. Reports Strong 2024 Earnings and Raises 2025 Forecast

Newtek Business Services ( (NEWT) ) has released its Q4 earnings. Here is a breakdown of the information Newtek Business Services presented to its investors.

NewtekOne, Inc. is a financial holding company that provides a wide range of business and financial solutions to independent business owners across the United States, including banking, lending, and payment processing services.

In its latest earnings report, NewtekOne, Inc. announced strong financial results for the year 2024, with earnings per share (EPS) of $1.97 per basic and $1.96 per diluted common share. The company also raised its full-year 2025 earnings forecast range to between $2.10 and $2.50 per share, reflecting its optimistic outlook for the coming year.

Key financial highlights include a significant increase in net income to $18.3 million for the fourth quarter of 2024, a 55.6% rise in EPS compared to the previous quarter. The company also reported a 50% increase in total assets, reaching $2.1 billion by the end of 2024. Additionally, NewtekOne’s Alternative Loan Program saw a substantial increase in loan closings, up 199% from the previous year.

The company has made strategic moves to enhance its offerings, such as integrating Newtek Advantage with Intuit QuickBooks, providing business owners with real-time financial insights. NewtekOne also completed the sale of its subsidiary, Newtek Technology Solutions, and raised $75 million through a public offering of senior notes.

Looking ahead, NewtekOne’s management remains confident in its growth strategy, focusing on expanding its loan portfolio and leveraging technology to provide comprehensive financial solutions. The company aims to continue its strong performance and deliver attractive returns to its shareholders.