Reported Q: Q3 2024 Rev YoY: +4.7% EPS YoY: -1.8% Move: -4.89%
Pathward Financial Inc
CASH
$86.58 -4.89%
Exchange NASDAQ Sector Financial Services Industry Banks Regional
Q3 2024
Published: Aug 6, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for CASH

Reported

Report Date

Aug 6, 2024

Quarter Q3 2024

Revenue

143.32M

YoY: +4.7%

EPS

1.66

YoY: -1.8%

Market Move

-4.89%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $143.32M up 4.7% year-over-year
  • EPS of $1.66 decreased by 1.8% from previous year
  • Gross margin of 93.7%
  • Net income of 41.84M
  • "Our strategy is to be the trusted platform that enables our partners to thrive." - Brett Pharr
CASH
Company CASH

Executive Summary

Pathward Financial reported a solid Q3 2024 with net income of $41.8 million and diluted EPS of $1.66, aided by a 14% year-over-year expansion in net interest income and notable margin improvements. Net interest income growth was driven by a disciplined focus on risk-adjusted returns and higher loan/lease yields, with new production yields rising to 8.58% in the commercial finance portfolio and overall NIM reaching 6.56% (GAAP) and 4.92% (adjusted). The company also highlighted a robust balance sheet and liquidity position, including $2.5 billion in available liquidity and a path to funded loan growth through asset rotation and higher yielding assets. Management reiterated a strategic emphasis on technology investments to improve underwriting and asset management efficiency, and expanded BaaS capabilities (fintech and financial institutions partnerships) to broaden solutions beyond prepaid cards into commercial finance, merchant services, and other payment solutions. Guidance was tightened for FY2024 (GAAP EPS $6.40–$6.60) while introducing FY2025 GAAP EPS guidance of $7.00–$7.50, reflecting an expectation of a rate cut in September 2024 and continued accretion from asset rotation and BaaS growth. In addition to organic growth, management underscored a continued focus on capital optimization and selective deployment of capital to support higher-return assets, with an emphasis on a reaffirmed “talent anywhere” culture and a strong risk/compliance framework as a competitive differentiator in a tighter regulatory environment.

Key Performance Indicators

Revenue
Increasing
143.32M
QoQ: -32.57% | YoY: 4.69%
Gross Profit
Increasing
134.35M
93.75% margin
QoQ: -24.02% | YoY: 98.36%
Operating Income
Decreasing
47.17M
QoQ: -41.59% | YoY: -1.01%
Net Income
Decreasing
41.84M
QoQ: -35.90% | YoY: -7.23%
EPS
Decreasing
1.66
QoQ: -35.16% | YoY: -1.78%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2026 53.76 1.57 -62.5% View
Q2 2025 269.95 3.11 +27.0% View
Q1 2025 126.76 1.29 -5.3% View
Q4 2024 137.70 -5.40 +4.8% View
Q3 2024 143.32 1.66 +4.7% View