Welcome to our dedicated page for Nelnet news (Ticker: NNI), a resource for investors and traders seeking the latest updates and insights on Nelnet stock.
Nelnet, Inc. (NYSE: NNI) operates at the intersection of financial services, education technology, and renewable energy solutions. This news hub provides investors and industry observers with official updates across the company's core operations: student loan servicing platforms, K-12 education software, and commercial solar project developments.
Access timely press releases covering earnings results, strategic partnerships, and regulatory milestones. Our curated collection helps stakeholders monitor Nelnet's progress in asset management innovations, payment processing advancements, and sustainable energy initiatives.
Key updates include quarterly financial disclosures, technology platform enhancements, and renewable energy portfolio expansions. Bookmark this page for direct access to Nelnet's corporate communications, including merger/acquisition announcements and leadership updates.
Nelnet (NYSE: NNI) has made a strategic investment in Edge Focus, a fintech company specializing in consumer finance. This investment builds upon their existing partnership and includes a strategy to acquire consumer loan portfolios. The collaboration aims to leverage Nelnet's financial services and asset management expertise while enabling Edge Focus to accelerate its growth and enhance its technology for underwriting and investing in consumer credit.
The partnership will combine Edge Focus's consumer credit technology with Nelnet's financial strength, asset management, and servicing capabilities to create value for both companies while expanding access to appropriately priced loans for American consumers.
Nelnet (NYSE: NNI) reported Q3 2024 GAAP net income of $2.4 million ($0.07 per share), down from $44.4 million ($1.18 per share) in Q3 2023. The quarter included significant charges: a $29.0 million provision expense related to loan securitizations, $5.6 million in debt discount write-offs, $11.2 million in solar tax equity investment losses, and $8.8 million in solar construction project losses. The company's loan servicing segment saw revenue decrease to $108.2 million from $127.9 million year-over-year, while Education Technology Services revenue increased to $118.2 million from $113.8 million. The Board declared a Q4 dividend of $0.28 per share.
Nelnet (NYSE: NNI) has announced that it will release its earnings report for the third quarter ended September 30, 2024, after the New York Stock Exchange closes on Thursday, November 7, 2024. Following the release, additional earnings information will be made available on the company's investor relations website at www.nelnetinvestors.com. This announcement provides shareholders and interested parties with advance notice of when to expect Nelnet's financial results for the specified period.
Nelnet (NYSE: NNI) reported Q2 2024 GAAP net income of $45.1 million, or $1.23 per share, up from $27.4 million in Q2 2023. Net income excluding derivative adjustments was $43.9 million. The Asset Generation and Management segment saw net interest income of $35.8 million, while Nelnet Bank reported a net loss of $2.8 million. The Loan Servicing segment's revenue decreased to $109.1 million, and the Education Technology Services segment's revenue increased to $116.9 million. The company repurchased 487,980 Class A shares for $46.8 million in Q2 and declared a Q3 dividend of $0.28 per share. Nelnet's CEO highlighted strong operating results and cash generation, emphasizing focus on long-term success and strategic opportunities.
FACTS, a Nelnet company (NYSE: NNI), announced the consolidation of multiple Nelnet brands into the FACTS brand at the recent FACTS Elevate Conference. CD2 Learning, Catholic Faith Technologies, My Catholic Faith Delivered, and aware3 will now operate under the FACTS name. This move expands FACTS' offerings beyond its traditional K-12 education technology and services to include corporate learning and faith-based organization solutions.
The consolidation aims to leverage FACTS' 35+ years of experience in education to serve a broader market, including businesses and religious institutions. New offerings include a learning management system, flexible learning courses for corporate training, and faith-centered learning courses along with online giving solutions for faith-based organizations. FACTS also unveiled a new website to showcase its expanded product suite.
Nelnet (NYSE: NNI) announced it will release its second-quarter earnings for the period ending June 30, 2024, after the New York Stock Exchange closes on August 8, 2024. Additional earnings information will be available on their investor relations website, www.nelnetinvestors.com. For more details about the company, visit www.nelnetinc.com.
Nelnet reported strong first-quarter 2024 results with GAAP net income of $73.2 million, or $1.97 per share, showing growth from the previous year. The company's core businesses performed well despite market uncertainties. Nelnet continues to invest in its businesses, make strategic acquisitions, and manage capital efficiently. AGM segment reported a decrease in loan portfolio and spread but managed a net income of $25.6 million. Nelnet Bank showed a net income of $0.9 million. Loan Servicing and Systems segment saw a decrease in revenue, and the Education Technology Services and Payments segment reported revenue growth, with net income at $36.2 million. Corporate activities included a loss on ALLO voting interests. The company repurchased shares and declared a second-quarter cash dividend.
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