The following is a summary of the Axos Financial, Inc. (AX) Q4 2024 Earnings Call Transcript:
Financial Performance:
Axos Financial reported a 23% year-over-year growth in earnings per share, and a 51% increase for the full year.
Net income for Q4 2024 grew by 20% year-over-year to approximately $105 million.
Net interest margin increased to 4.65% for Q4 2024, up 46 basis points year-over-year.
The company repurchased $13.2 million of common stock in Q4 and $97 million over the fiscal year, with an average share price of $48 and $38.18 respectively.
Business Progress:
Axos Financial continued its growth with a 16.9% year-over-year increase in ending loan balances, totaling $19.2 billion.
The company experienced strong growth in deposits, increasing by approximately $256 million in Q4 and $2.2 billion over the fiscal year.
Axos Financial strategically managed its loan portfolio, including reducing exposure in certain lending categories to manage interest rate and credit risk.
Opportunities:
Axos Financial is leveraging its multifamily and commercial real estate lending to grow its loan portfolio, particularly with a focus on conservatively structured loans with compelling deposits.
The company's investments in technology and operational systems are intended to improve efficiency and customer engagement, potentially leading to further growth in its business verticals.
Risks:
Competitive pressures and tighter spreads are making loan growth and maintaining high yields more challenging, requiring strategic management of loan and deposit portfolios to maintain profitability.
More details: Axos Financial IR
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