NewtekOne reports Q1 EPS 35c, consensus 32c

Reports Q1 book value per share $10.73. “In a challenging and fluid economic environment, we are extremely pleased to post solid quarterly results that include diluted earnings per share of $0.35, ahead of the guidance range we presented to the market in late February,” said Barry Sloane, CEO, President and Chairman. “We continue to put up strong balance sheet and tangible book value per share growth and above average profitability. Our ability to generate $0.35 per diluted share of earnings despite a heavier loan loss provision is another example that organizations with wider lending margins, lower efficiency ratios, sufficient capital bases, and relevant product offerings are the future of the banking industry. The strength of the Company’s pre-provision net revenue stream speaks to the power of our business model that, in 1Q25, produced profitability roughly two times the average profitability of banks with $1 to $10 billion of assets.”