Nelnet Reports Third Quarter 2026 Financial Results
Nelnet (NYSE: NNI) reported GAAP net income of $76.2 million ($2.13 per share) for the third quarter of 2026, a decrease from the $106.7 million ($2.94 per share) reported in the same period last year. Excluding derivative market value adjustments, net income stood at $67.9 million ($1.89 per share). Despite the decline in GAAP net income, CEO Jeff Noordhoek highlighted strong operating performance and successful diversification efforts. The company's Asset Generation and Management (AGM) segment saw significant growth in consumer loan acquisitions, totaling $3.23 billion compared to $1.52 billion a year ago, driven largely by short-duration 'Pay Later' receivables. While net interest income for AGM rose to $65.2 million due to higher spreads and portfolio growth, the company recorded a provision for loan losses of $34.5 million, impacted by CECL methodology requirements for newly acquired loans.
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Topics: acquisition dividend increase earnings per share net income share repurchase