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AX Axos Financial News Story

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Axos Financial beats Q1 adjusted EPS estimates

Overview

Axos Financial fiscal Q1 adjusted EPS beats estimates

Adjusted net income for fiscal Q1 exceeds analysts' expectations

Company's non-interest income rises 13% yr/yr, aided by higher banking and service fees

Outlook

Company did not provide specific guidance for future periods

Result Drivers

VERDANT ACQUISITION - Acquisition of Verdant Commercial Capital added $1 bln in loans and leases, boosting net loan growth

ORGANIC LOAN GROWTH - Organic net loan growth contributed $565 mln to total loan increase

NON-INTEREST INCOME INCREASE - Non-interest income rose 13% yr/yr, driven by higher banking and service fees and mortgage banking

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 Adjusted EPSBeat$2.07$1.94 (6 Analysts)
Q1 EPS$1.94
Q1 Adjusted Net IncomeBeat$120.38 mln$111.40 mln (6 Analysts)
Q1 Net Income$112.35 mln
Q1 Net Interest Income$291.05 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" The average consensus recommendation for the banks peer group is "buy" Wall Street's median 12-month price target for Axos Financial Inc is $105.00, about 25% above its October 29 closing price of $78.77 Press Release: ID:nBw5bFL9ha For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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