Wall Street expects a year-over-year decline in earnings on lower revenues when Medallion Financial (MFIN) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Oct ...

NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, the "Company"), a specialty finance company that originates and services loans in various consumer and commercial industries, as well as loan products and services offered through fintech strategic partners, announced today that it will report its results for the quarter ended September 30, 2024, after the market closes on Tuesday, October 29, 2024. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss the fi ...

2Q24 results show worrying trends that must be addressed immediately. Core charge-offs (YoY), ROAA, ROAE and holding company cash-burn trended poorly. Quarterly earnings, ROAA and core ROAA (Ex. Taxi Medallion) are at 3-year lows. Low Price/Tangible Book Value multiple may be an indication of market skepticism despite Russell 3000 inclusion. ZimCal believes that Medallion Financial Corp. has tremendous upside with the right governance and leadership. ZimCal previously provided MFIN with a version of its "5 ...

Core Insights - Medallion Financial Corp. will participate in the Investor Summit 2024 Conference, scheduled for August 20, 2024 [1][2] - The conference will be held virtually, with a presentation by MFIN management from 11:00 a.m. to 11:30 a.m. ET [2] - Management will also be available for one-on-one meetings throughout the conference [2] Company Overview - Medallion Financial Corp. is a specialty finance company that originates and services loans across various consumer and commercial industries [1][4] - The company focuses on key industries such as recreation (including towable RVs and marine) and home improvement (covering replacement roofs, swimming pools, and windows) [4] - Medallion Financial Corp. is headquartered in New York City, with its largest subsidiary, Medallion Bank, located in Salt Lake City, Utah [4] Investor Relations - The company is actively engaging with institutional investors and family offices by hosting individual meetings with portfolio managers and analysts [3] - Interested parties can schedule meetings with management by contacting Medallion Investor Relations [3][5]

Company Performance - Medallion Financial reported quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.33 per share, and down from $0.62 per share a year ago, representing an earnings surprise of -9.09% [1] - The company posted revenues of $50.97 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.16%, and up from $48.63 million year-over-year [2] - Over the last four quarters, Medallion Financial has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Medallion Financial shares have lost about 18.2% since the beginning of the year, while the S&P 500 has gained 14.5% [3] - The current consensus EPS estimate for the coming quarter is $0.41 on revenues of $51.46 million, and for the current fiscal year, it is $1.53 on revenues of $205.03 million [7] Industry Outlook - The Financial - SBIC & Commercial Industry, to which Medallion Financial belongs, is currently in the top 42% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can materially impact stock performance [5][8]

FOR IMMEDIATE RELEASE: NEW YORK, NY – July 30, 2024 – Medallion Financial Corp. (NASDAQ: MFIN, "Medallion" or the "Company"), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2024. 2024 Second Quarter Highlights • Net income was $7.1 million, or $0.30 per share, compared to $14.2 million, or $0.62 per share, in th ...

NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, "Medallion" or the "Company"), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2024. Net income was $7.1 million, or $0.30 per share, compared to $14.2 million, or $0.62 per share, in the prior year quarter. $2.3 million of cash ...

Forward-Looking Statements Our net interest income reached $49.9 million, an all-time high, grew 4% from the prior quarter, and we saw our net charge-offs drop from what we experienced in the first quarter. We remain cautiously optimistic that the solid performance of our loans and the strong credit quality of our overall loan portfolio will continue. Despite some contraction over the past few years, due mainly to the current interest rate environment, our net interest margin increased two basis points from ...

Core Insights - Medallion Bank reported a net income of $15.0 million for the quarter ended June 30, 2024, down from $19.3 million in the same quarter last year [2] - The total loan portfolio grew by 10% year-over-year, reaching $2.3 billion as of June 30, 2024 [2] - The bank's net interest income increased to $50.2 million, compared to $47.0 million in the prior year quarter, with a net interest margin of 8.55% [2] Financial Performance - Net interest income after provision for credit losses was $32.0 million, down from $38.1 million in the prior year quarter [8] - Total provision for credit losses was $18.2 million, significantly higher than $8.9 million in the prior year quarter [2] - Annualized net charge-offs increased to 2.31% of average loans outstanding, compared to 0.63% in the prior year quarter [2] Loan Portfolio Breakdown - The recreation loan portfolio grew by 12% to $1.497 billion, representing 66% of total loans receivable [3] - Home improvement loan portfolio increased by 6% to $773.2 million, accounting for 34% of loans receivable [4] - Delinquencies for recreation loans rose to $54.3 million (3.75%), while home improvement loans had delinquencies of $6.9 million (0.89%) [3][4] Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.50 per share on the Series F Preferred Stock, payable on October 1, 2024 [5] Company Overview - Medallion Bank specializes in consumer loans for recreational vehicles, boats, and home improvements, and provides loan origination services to fintech partners [6] - The bank is headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp [6]

CONFERENCE CALL AND WEBCAST INFORMATION How to Participate A link to the live audio webcast of the conference call will also be available at the Company's IR website. The webcast replay will be available at the Company's IR website until the next quarter's results are announced. U.S. dial-in number: (844) 512-2921 International dial-in number: (412) 317-6671 Passcode: 1019 0811 To increase relations with institutional investors, management has dedicated time to hosting individual meetings with portfolio man ...