Nelnet Inc

NYSE:NNIUnited States

Nov 7, 2024

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• -- Earnings Flash (NNI) NELNET Posts Q3 EPS $0.34, from 4:18PM ET on Thursday Nov 07, 2024 by MT Newswires

  4:18PM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: NNI
  04:18 PM EST, 11/07/2024 (MT Newswires) -- ...

• Nelnet Reports Third Quarter 2024 Results, from 4:15PM ET on Thursday Nov 07, 2024 by PR Newswire

  4:15PM ET on Thursday Nov 07, 2024 by PR Newswire
  Companies Mentioned: NNI

  Nelnet (NYSE: NNI) today reported GAAP net income of $2.4 million, or $0.07 per share, for the third quarter of 2024, compared with GAAP net income of $44.4 million, or $1.18 per share, for the same period a year ago.

• Nelnet Reports Third Quarter 2024 Results, from 4:15PM ET on Thursday Nov 07, 2024 by Dow Jones

  4:15PM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: NNI
  (expense) 282 (14,753) (10,512) (37,653) (28,785) ---------------------- ---------- ---------- ---------- ---------- Net (loss) income (1,941) 43,675 39,607 112,488 79,034 Net loss attributable to noncontrolling interests 4,329 1,416 4,747 8,398 18,705 ---------------------- ---------- ---------- --- ---------- ---------- --- Net income attributable to Nelnet, Inc. $ 2,388 45,091 44,354 120,886 97,739 ====================== ========== ========== === ========== ========== === Earnings per common share: Net income attributable to Nelnet, Inc. shareholders - basic and diluted $ 0.07 1.23 1.18 3.29 2.61 ====================== ========== ========== === ========== ========== === Weighted average common shares outstanding - basic and diluted 36,430,485 36,525,482 37,498,073 36,703,314 37,437,587 (1) During the second quarter of 2024, the company identified certain immaterial errors in the previously issued consolidated financial statements that have been corrected to conform to the September 30, 2024 presentation. Refer to the company's quarterly report on Form 10-Q for the three months ended September 30, 2024 that was filed with the Securities and Exchange Commission on November 7, 2024 for additional information. Condensed Consolidated Balance Sheets (Dollars in thousands) (unaudited) As of As of As of December September September 30, 2024 31, 2023 (1) 30, 2023 (1) --------------------------- ---------- --- ---------- --- Assets: Loans and accrued interest receivable, net $ 10,572,881 13,108,204 13,867,557 Cash, cash equivalents, and investments 2,123,245 2,014,819 2,108,585 Restricted cash and investments 729,089 875,348 604,855 Goodwill and intangible assets, net 196,400 202,848 228,812 Other assets 462,513 511,165 388,080 --------------------------- ---------- --- ---------- --- Total assets $ 14,084,128 16,712,384 17,197,889 =========================== ========== === ========== === Liabilities: Bonds and notes payable $ 8,938,446 11,828,393 12,448,109 Bank deposits 1,070,758 743,599 718,053 Other liabilities 864,786 940,285 794,589 --------------------------- ---------- --- ---------- --- Total liabilities 10,873,990 13,512,277 13,960,751 --------------------------- ---------- --- ---------- --- Equity: Total Nelnet, Inc. shareholders' equity 3,290,652 3,253,751 3,285,470 Noncontrolling interests (80,514) (53,644) (48,332) --------------------------- ---------- --- ---------- --- Total equity 3,210,138 3,200,107 3,237,138 --------------------------- ---------- --- ---------- --- Total liabilities and equity $ 14,084,128 16,712,384 17,197,889 =========================== ========== === ========== === (1) During the second quarter of 2024, the company identified certain immaterial errors in the previously issued consolidated financial statements that have been corrected to conform to the September 30, 2024 presentation. Refer to the company's quarterly report on Form 10-Q for the three months ended September 30, 2024 that was filed with the Securities and Exchange Commission on November 7, 2024 for additional information.
  

• *DJ Nelnet 3Q EPS 7c >NNI, from 4:15PM ET on Thursday Nov 07, 2024 by Dow Jones

  4:15PM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: NNI