NASDAQ$FFIC

Flushing Financial Corporation · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported GAAP EPS of $0.11 and core EPS of $0.58.

Flushing Financial Corporation reported a GAAP diluted EPS of $0.11 and a core diluted EPS of $0.58 for Q4 2020. The company achieved record net interest income for the third consecutive quarter and reduced loans in forbearance. The Empire acquisition was closed and the systems conversion was completed.

  • GAAP diluted EPS of $0.11, compared to $0.45 in 4Q19
  • Core diluted EPS of $0.58 compared to $0.41 in 4Q19
  • Record net interest income of $55.7 million, up 35.3% YoY
  • Loans in forbearance declined 56.9% in 4Q20

Headline financials

Total Revenue

$54.6M

Previous: $46.2M+18.0%
EPS (adj)

$0.58

Previous: $0.41+41.5%
Net Interest Margin

3.1%

Previous: 2.5%+24.2%
Capital Expenditures

$789K

Previous: $2.03M-61.2%
Free Cash Flow

$24.9M

Previous: $9.4M+165.5%
Net Income

$3.46M

Previous: $12.9M-73.2%
Operating Income

$3.88M

Previous: $16.9M-77.0%
Gross Profit

$54.6M

Previous: $46.2M+18.0%
Cash & Equivalents

$157M

Previous: $49.8M+216.0%
Total Assets

$7.98B

Previous: $7.02B+13.7%
Stock-Based Comp

$940K

Previous: $1.15M-18.0%

Revenue & EPS history

Flushing Financial · Revenue · Quarterly

$54.6M

Q4 2020+18%vs Q4 2019
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

Flushing Financial is expected to continue managing cost of funds, resume historical loan growth, enhance core earnings power, manage credit risk, and remain well capitalized.

Tailwinds

  • Manage cost of funds and continue to improve funding mix
  • Resume historical loan growth while achieving appropriate risk adjusted returns
  • Enhance core earnings power by improving scalability and efficiency
  • Manage credit risk
  • Remain well capitalized

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 Q4 2020

Historical avgQ4 2020

+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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