NewtekOne, Inc. Reconfirms its 2024 Annual EPS Forecast in a Range of $1.85 to $2.05 per Basic and Diluted Common Share
Rhea-AI Summary
NewtekOne, Inc. (NASDAQ: NEWT) has reconfirmed its 2024 annual earnings per share (EPS) forecast in the range of $1.85 to $2.05 per basic and diluted common share. Despite challenging market conditions for financial businesses, the company remains confident in its ability to meet its goals and satisfy client needs. NewtekOne continues to see strong demand from small- and medium-sized businesses (SMBs) for its financial and business solutions. The company aims to help SMBs grow revenues, reduce expenses and risk, and improve operational efficiencies. NewtekOne plans to provide 2025 business projections during its Q3 2024 earnings call in early November, which is expected to showcase the company's continued growth trajectory.
Positive
- Reaffirmation of 2024 EPS forecast range of $1.85 to $2.05 per share
- Strong demand from SMBs for the company's financial and business solutions
- Planned release of 2025 business projections in November, indicating confidence in future growth
Negative
- Challenging and volatile equity market for financially related businesses
News Market Reaction – NEWT
In the trading session that priced this news, NEWT gained 1.04%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BOCA RATON, Fla., Sept. 05, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (NASDAQ: NEWT) announced today that it is reconfirming its 2024 annual earnings per share (“EPS”) forecast in a range of
Barry Sloane, Chairman, President and Chief Executive Officer said, “Despite a challenging, volatile equity market for financially related businesses, we continue to be proud of our management team for executing on our goals and metrics, satisfying the needs of our business clients and fostering the continued growth of our business model. As a company that provides best-in-class financial and business solutions to make its clients more successful, we are continuing to witness a tremendous appetite from the small- and medium-sized business (SMB) community to engage with us about how we can help SMBs grow their revenues, reduce their expenses, reduce their risk, and improve their operational efficiencies. As such, we remain comfortable with our previously issued 2024 annual EPS guidance in a range of
About NewtekOne, Inc.
NewtekOne®, Your Business Solutions Company®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek® brand to independent business owners. Since 1999, NewtekOne has provided state-of-the-art, cost-efficient products and services and efficient business strategies to independent business owners across all 50 states to help them grow their sales, control their expenses and reduce their risk.
NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.
Newtek®, NewtekOne®, Newtek Bank®, National Association, Your Business Solutions Company®, One Solution for All Your Business Needs® and Newtek Advantage are registered trademarks of NewtekOne, Inc.
Note Regarding Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences and are subject to change, possibly materially. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in the NewtekOne’s filings with the Securities and Exchange Commission which are available on NewtekOne's website (https://investor.newtekbusinessservices.com/sec-filings) and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
SOURCE: NewtekOne, Inc.
Investor Relations & Public Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@newtekone.com
