NASDAQ$FFIC

Flushing Financial Corporation · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported GAAP EPS of $0.81 and Record Core EPS of $0.88

Flushing Financial Corporation reported a strong third quarter with GAAP EPS of $0.81, up 62.0% YoY, and record core EPS of $0.88, up 57.1% YoY. The company achieved record net interest income and a record loan pipeline, driven by the successful implementation of their business strategy.

  • Record net interest income increased 3.8% QoQ and 26.9% YoY to $63.4 million.
  • Net interest margin FTE increased 20 bps QoQ and 34 bps YoY to 3.34%.
  • Loan pipeline increased 34.7% YoY to a record $530.7 million.
  • Tangible Common Equity to Tangible Assets improved to 8.04% from 7.80% in 2Q21.

Headline financials

Total Revenue

$64.2M

Previous: $51.3M+25.3%
EPS (adj)

$0.88

Previous: $0.56+57.1%
Capital Expenditures

-$2.84M

Previous: -$1.72M-64.8%
Free Cash Flow

$22.6M

Previous: $12.6M+79.0%
Net Income

$25.4M

Previous: $14.3M+77.3%
Operating Income

$39M

Previous: $26.1M+49.4%
Gross Profit

$57.3M

Previous: $48.8M+17.4%
Cash & Equivalents

$179M

Previous: $75.6M+136.4%
Total Assets

$8.08B

Previous: $7.06B+14.4%
Stock-Based Comp

$977K

Previous: $979K-0.2%

Revenue & EPS history

Flushing Financial · Revenue · Quarterly

$64.2M

Q3 2021+25.3%vs Q3 2020
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Flushing Financial · $54M total across 1 segment · Q1 2022

  • Mortgage Loans, Net
    $54M

Forward guidance

The combination of an improving economy, broad based and record loan pipelines, and merger disruption should lead to positive loan growth into 2022

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+0.2%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+2.1%

Avg return

30 days after

47%

31 / 66 earnings

Positive

+16.4%

Q2 2020

Best reaction

-10.1%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.1%-4.5%-2.4%
Q4 2025-1.4%+3.8%-0.8%
Q3 2025+4.3%+9.6%+27.6%
Q2 2025-2.2%-0.8%+8.9%
Q1 2025-3.9%+2.1%-3.4%
Q4 2024-2.2%-5.2%+0.1%
Q3 2024+1.7%+7.7%+20.4%
Q2 2024-10.1%-18.8%-14.9%
Q1 2024-2.2%-4.8%+9.8%
Q4 2023+2.6%+3.9%-23.0%
Q3 2023+2.1%+11.4%+15.5%
Q2 2023+14.0%+11.5%-0.1%
Q1 2023-8.5%-9.5%-11.2%
Q4 2022-8.0%-3.9%-1.8%
Q3 2022-4.0%-1.6%+1.9%
Q2 2022-0.5%-3.6%-3.2%
Q1 2022+3.4%+0.1%+6.0%
Q4 2021-5.5%-5.1%-4.9%
Q3 2021-0.5%+0.8%+3.8%
Q2 2021+1.7%-0.2%+6.1%
Q1 2021+3.8%+4.0%+4.2%
Q4 2020+0.0%+2.9%+13.5%
Q3 2020+0.2%+4.0%+21.6%
Q2 2020+16.4%+15.8%+14.5%
Q1 2020+10.8%-1.1%-2.1%
Q4 2019+1.5%+5.5%-7.3%
Q3 2019+0.4%+0.6%-2.8%
Q2 2019-6.0%-5.9%-11.5%
Q1 2019-1.4%+1.0%-6.5%
Q4 2018+0.6%+2.1%+5.3%
Q3 2018-5.2%-1.1%+4.5%
Q2 2018-1.4%-3.7%-1.0%
Q1 2018-5.2%-4.3%-1.3%
Q4 2017+0.6%+0.7%-3.8%
Q3 2017-6.7%-4.8%-5.3%
Q2 2017-0.5%+0.8%-3.4%
Q1 2017+11.6%+7.6%+1.5%
Q4 2016-0.1%+1.9%+2.8%
Q3 2016-6.3%-6.9%+16.3%
Q2 2016+8.7%+7.0%+9.4%
Q1 2016-2.0%
Q4 2015+10.2%
Q3 2015+5.5%
Q2 2015-1.2%
Q1 2015-0.6%
Q4 2014-4.4%
Q3 2014+1.2%
Q2 2014-4.3%
Q1 2014-0.7%
Q4 2013+4.1%
Q3 2013+1.5%
Q2 2013+2.2%
Q1 2013-3.6%
Q4 2012-0.2%
Q3 2012+2.7%
Q2 2012+3.1%
Q1 2011+0.9%
Q1 2012+4.5%
Q4 2009+2.2%
Q4 2010+2.2%
Q4 2011+2.2%
Q3 2011-2.5%
Q3 2010-2.5%
Q2 2010-5.4%
Q2 2011-5.4%
Q1 2010+5.2%

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