Core Viewpoint - NewtekOne (NEWT) reported quarterly earnings of $0.45 per share, exceeding the Zacks Consensus Estimate of $0.41 per share, and showing an increase from $0.38 per share a year ago [1][2] Financial Performance - The company achieved revenues of $62.83 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.73% and increasing from $50.97 million year-over-year [3] - NewtekOne has surpassed consensus EPS estimates three times over the last four quarters [2][3] Market Performance - NewtekOne shares have declined approximately 4.4% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [4] - The current Zacks Rank for NewtekOne is 4 (Sell), indicating expectations of underperformance in the near future [7] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $0.65 on revenues of $71.32 million, and for the current fiscal year, it is $1.90 on revenues of $252.5 million [8] - The estimate revisions trend for NewtekOne has been unfavorable ahead of the earnings release [7] Industry Context - The Financial - Miscellaneous Services industry, to which NewtekOne belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]

Core Insights - NewtekOne, Inc. reported financial results for the three and nine months ended September 30, 2024, showing growth in net income and earnings per share compared to previous periods [2][4][7]. Financial Highlights for Q3 2024 - Net income for Q3 2024 was $11.9 million, with earnings per share (EPS) of $0.45, reflecting a 4.7% increase from Q2 2024 and Q3 2023 [2]. - Net interest income increased by 20.9% from $9.1 million in Q2 2024 to $11.0 million in Q3 2024, and by 35.8% from $8.1 million in Q3 2023 [2]. - Total assets reached $1.7 billion, a 21.4% increase from $1.4 billion at the end of 2023 [2]. - Loans held for investment rose to $913.0 million, a 13.3% increase from $806.1 million at the end of 2023 [2]. - The net interest margin improved to 3.08%, up 14.1% from Q2 2024 and 18.5% from Q3 2023 [2]. - Return on Tangible Common Equity (ROTCE) was 21.3%, a slight decrease from 21.4% in Q2 2024 and a significant decrease from 24.9% in Q3 2023 [2]. - The efficiency ratio improved to 61.8%, down from 66.3% in Q2 2024 and 63.8% in Q3 2023 [2]. Financial Highlights for YTD Q3 2024 - For the nine months ended September 30, 2024, net income was $32.5 million, with EPS of $1.26, compared to $36.5 million and $1.46 in the same period of 2023 [4]. - Net interest income for the nine months was $29.0 million, a 58.5% increase from $18.3 million in the same period of 2023 [4]. - The efficiency ratio improved to 66.2%, down from 74.1% in the same period of 2023 [4]. Newtek Bank Highlights - Total deposits at Newtek Bank were $745.7 million, a 12.4% increase from $663.7 million in Q2 2024 and a 43.7% increase from $519.1 million at the end of 2023 [5]. - The net interest margin for Newtek Bank was 5.29%, up 9.5% from Q2 2024 and 49.9% from Q3 2023 [5]. - ROTCE for Newtek Bank was 49.3%, an increase from 48.9% in Q2 2024 and 44.1% in Q3 2023 [5]. Lending Highlights - SBA 7(a) loan closings totaled $245.3 million for Q3 2024, a 12.5% increase from $218.0 million in Q3 2023 [6]. - Newtek Bank closed $38.4 million of SBA 504 loans, a 117.0% increase from $17.7 million in Q3 2023 [6]. - Total loans closed across all products reached $372.1 million, a 43.0% increase from $260.2 million in Q3 2023 [6]. Future Outlook - The company maintains its 2024 annual EPS forecast range of $1.85 to $2.05 and forecasts a 2025 EPS range of $2.00 to $2.25 [3][9].

Core Insights - NewtekOne (NEWT) is expected to report quarterly earnings of $0.41 per share, a 7.9% increase year-over-year, with revenues projected at $61.76 million, reflecting a 21.2% year-over-year growth [1] Earnings Projections - There have been no revisions in the consensus EPS estimate for the quarter over the last 30 days, indicating stability in analysts' forecasts [1][2] - Changes in earnings projections are crucial for predicting investor reactions to the stock [2] Key Financial Metrics - Analysts estimate 'Net interest income' to be $10.26 million, up from $8.08 million a year ago [4] - 'Noninterest income- Net gains on sales of loans' is projected to reach $18.76 million, compared to $12.72 million last year [4] - 'Noninterest income- Electronic payment processing income' is expected to be $12.54 million, an increase from $11.19 million [5] - 'Noninterest income- Other noninterest income' is forecasted at $8.79 million, up from $7.65 million [5] - 'Noninterest income- Servicing income' is likely to reach $4.75 million, compared to $4.60 million in the same quarter last year [6] - 'Noninterest income- Technology and IT support income' is estimated at $5.92 million, up from $5.50 million a year ago [6] Stock Performance - NewtekOne shares have increased by 1.7% over the past month, contrasting with a -0.5% change in the Zacks S&P 500 composite [6] - The company holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market in the near term [6]

BOCA RATON, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ: NEWT) announced today the appointment of Craig "CJ" Brunet as a member of the boards of directors of NewtekOne, Inc. and Newtek Bank N.A. Mr. Brunet's career spans over 50 years with his experience rooted in the information technology and financial services sectors with specific focus in strategic planning, mergers and acquisitions, Software as a Service (SaaS), patent commercialization, cyber security, compliance, and risk managem ...

BOCA RATON, Fla., Oct. 25, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ: NEWT) announced today that NewtekOne's CEO and President, Barry Sloane, will present at the LD Micro Main Event XVII on Tuesday, October 29, 2024 at 11:00AM ET (8:00AM PT), Track 1, at the Luxe Sunset Blvd Hotel in Los Angeles, CA. Mr. Sloane will hold one-on-one meetings on October 29-30, 2024. To schedule a meeting, please contact your LD Micro representative, or Jayne Cavuoto, Director of Investor Relations at NewtekOne at jcavu ...

BOCA RATON, Fla., Oct. 08, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ: NEWT) announced today that it expects to report deposits at Newtek Bank, N.A. of $742 million as of September 30, 2024; an expected sequential increase of 11.7% over $664 million at June 30, 2024, and an increase of 43% over $519 million at December 31, 2023. Insured deposits are expected to represent approximately 75% of total deposits at September 30, 2024. In the all-important category of business core deposits, we expect to fin ...

BOCA RATON, Fla., Oct. 03, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ: NEWT) announced today that NewtekOne closed a record $371.8 million of loans across all loan products for the three months ended September 30, 2024, which represents an 17.3% increase over $316.7 million of loans closed for the three months ended June 30, 2024. In addition, the Company achieved SBA 7(a) closings of $245.3 million in the third quarter 2024, a 6.6% increase over the second quarter of 2024, and a 12.5% increase over t ...

BOCA RATON, Fla., Oct. 02, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ: NEWT) announced today that it will report its third quarter 2024 financial results after the market closes on Wednesday, November 6, 2024. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer and M. Scott Price, Chief Financial Officer, the following day, Thursday, November 7, 2024 at 8:30 am ET. Please note, to receive a dial-in number for the conference call or to listen to the webcas ...

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Dividend Information - NewtekOne, Inc. declared a quarterly dividend of $0.19 per share[3] - The press release regarding the dividend was issued on September 16, 2024[3] Company Classification and Operations - The company is classified as an emerging growth company under the Securities Act[2] - The company operates under the trading symbol NEWT on the Nasdaq Global Market[1] - NewtekOne's principal executive offices are located in Boca Raton, Florida[1] Financial Reporting and Risks - Forward-looking statements indicate potential risks and uncertainties affecting future results[2] - Management's expectations are subject to significant risks that could lead to actual results differing[2] - The report does not incorporate the information as "filed" under the Securities Exchange Act[3] - The company’s financial statements are available on its website and the SEC's website[2] Report Signing - The CEO, Barry Sloane, signed the report on behalf of NewtekOne[3]