Axos Financial (AX) Reports Q1 Earnings: What Key Metrics Have to Say

Core Insights - Axos Financial reported a revenue of $320.66 million for the quarter ended September 2024, reflecting a year-over-year increase of 30.5% and surpassing the Zacks Consensus Estimate by 7.03% [1] - The earnings per share (EPS) for the quarter was $1.96, compared to $1.41 in the same quarter last year, resulting in an EPS surprise of 8.89% over the consensus estimate of $1.80 [1] Financial Metrics - Net Interest Margin was reported at 5.2%, exceeding the average estimate of 4.7% from four analysts [3] - The Efficiency Ratio stood at 46%, slightly better than the average estimate of 46.4% from three analysts [3] - Net charge-offs to average loans were 0.2%, higher than the average estimate of 0.1% from three analysts [3] - Average Interest-Earning Assets totaled $22.60 billion, slightly below the average estimate of $22.81 billion from three analysts [3] - Total Non-performing Loans were reported at $176.70 million, significantly higher than the average estimate of $115.54 million from two analysts [3] - Total Non-performing Assets reached $177.41 million, compared to the average estimate of $144.07 million from two analysts [3] - Net Interest Income was $292.05 million, surpassing the average estimate of $266.31 million from four analysts [3] - Total Non-Interest Income was $28.61 million, below the average estimate of $33.94 million from four analysts [3] - Mortgage Banking Income was $0.45 million, significantly lower than the average estimate of $2.57 million from three analysts [3] - Banking and Service Fees amounted to $8.61 million, slightly above the average estimate of $8.53 million from two analysts [3] - Prepayment Penalty Fee Income was $0.54 million, compared to the average estimate of $2 million from two analysts [3] Stock Performance - Over the past month, shares of Axos Financial have returned +9.4%, outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]