NewtekOne Third Quarter 2023 Earnings: Revenues Disappoint

NewtekOne (NASDAQ:NEWT) Third Quarter 2023 Results

Key Financial Results

• Revenue: US$69.6m (up 100% from 3Q 2022).
• Net income: US$9.58m (down 16% from 3Q 2022).
• Profit margin: 14% (down from 33% in 3Q 2022).
• EPS: US$0.39 (down from US$0.47 in 3Q 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

NewtekOne Revenues Disappoint

Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are down 9.1% from a week ago.

Risk Analysis

We should say that we've discovered 4 warning signs for NewtekOne (2 are potentially serious!) that you should be aware of before investing here.

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