Quarterly ResultMay 7, 2026, 04:36 PM
Nelnet Q1 Net Income $71.1M, EPS $1.97; Loan Loss Provision Up
AI Summary
Nelnet reported a net income attributable to Nelnet, Inc. of $71.1 million for the first quarter of 2026, a decrease from $82.6 million in the prior year. Diluted earnings per share also fell to $1.97 from $2.26. The company saw increased net interest income and growth in loan servicing and education technology revenues, but a significant rise in the provision for loan losses, primarily due to the expansion of its Pay Later receivables portfolio. Total assets and shareholders' equity increased, and the company raised its cash dividend to $0.33 per share.
Key Highlights
- Net income attributable to Nelnet, Inc. decreased to $71.1 million from $82.6 million YoY.
- Diluted earnings per share fell to $1.97 from $2.26 compared to the prior year.
- Net interest income increased to $101.6 million from $82.7 million YoY.
- Provision for loan losses significantly rose to $53.2 million from $15.3 million YoY.
- Loan servicing and systems revenue increased to $127.8 million from $120.7 million YoY.
- Education technology services and payments revenue grew to $154.4 million from $147.3 million YoY.
- Total assets increased to $14.18 billion as of March 31, 2026, from $14.06 billion at December 31, 2025.
- Cash dividends on common stock increased to $0.33 per share from $0.28 per share.
Price Impact
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