Marlin Business Services (MRLN) Tops Q4 EPS by 13c

Marlin Business Services (NASDAQ: MRLN) reported Q4 EPS of $0.47, $0.13 better than the analyst estimate of $0.34.

Fourth Quarter Summary:

• Total fourth quarter sourced origination volume of $186.5 million, up 16.3% from the previous quarter and up 23.1% year-over-year
• 30+ and 60+ day delinquencies on total finance receivables improved from prior quarter to 102 basis points and 55 basis points, respectively, with annualized net charge-offs of 1.87%
• Provision for Credit Losses of $4.5 million, improved from $5.7 million in the prior quarter, primarily due to the stabilizing portfolio performance in the fourth quarter along with the establishment of a hurricane reserve in the third quarter
• Net income of $15.9 million, or $1.27 per diluted share, includes a fourth quarter tax benefit of $10.2 million, or $0.82 per diluted share, related to the Tax Cuts and Jobs Act of 2017
• Net income on an adjusted basis of $5.9 million, or $0.47 per diluted share, compared to $4.8 million, or $0.38 per diluted share in the fourth quarter last year
• ROE of 38.1%; ROE of 14.2% adjusted for the impact of the net tax benefit along with other items, up from 12.1% in the fourth quarter last year
• Total new origination loan and lease yield of 11.59%, down 59 basis points from the prior quarter and up 9 basis points year-over-year
• Net interest and fee income of $23.6 million for the quarter, compared to $23.1 million for the prior quarter and $21.8 million for the fourth quarter last year
• Strong capital position with equity to assets ratio of 17.27%

For earnings history and earnings-related data on Marlin Business Services (MRLN) click here.

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