Axos Financial (AX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Axos Financial reported a revenue of $352.74 million for the quarter ended December 2023, marking a 54.6% increase year-over-year and a surprise of +42.77% over the Zacks Consensus Estimate of $247.07 million [1] - The earnings per share (EPS) for the quarter was $1.60, compared to $1.38 in the same quarter last year, resulting in an EPS surprise of +15.11% over the consensus estimate of $1.39 [1] Financial Metrics - Net Interest Margin was reported at 4.6%, exceeding the average estimate of 4.3% from four analysts [2] - Efficiency ratio stood at 34.5%, significantly better than the average estimate of 48.7% from four analysts [2] - Net charge-offs to average loans were 0%, compared to the estimated 0.1% from three analysts [2] - Average Interest-Earning Assets reached $20.12 billion, surpassing the average estimate of $19.89 billion from three analysts [2] - Total Non-performing loans were $122.51 million, slightly above the average estimate of $115.70 million from two analysts [2] - Total Non-performing Assets were reported at $129.83 million, compared to the estimated $124.84 million from two analysts [2] - Net Interest Income was $228.61 million, exceeding the average estimate of $215.27 million from four analysts [2] - Mortgage Banking Income was $0.75 million, below the average estimate of $1.22 million from three analysts [2] - Banking and service fees totaled $10.06 million, higher than the average estimate of $8.93 million from two analysts [2] - Prepayment penalty fee income was $1.04 million, lower than the estimated $1.88 million from two analysts [2] Stock Performance - Shares of Axos Financial have returned +4.2% over the past month, outperforming the Zacks S&P 500 composite's +3.4% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]