NASDAQ$TFIN
Triumph Financial Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported a decrease in net income due to seasonality, credit costs, and planned investments, while TriumphPay continued to grow and gain market share.
Triumph Financial reported net income of $3.4 million, or $0.14 per diluted share, for the first quarter of 2024. The results were impacted by a freight recession, credit costs, and planned investments in initiatives like LoadPay. TriumphPay's proportion of all brokered freight reached approximately 44%.
- Freight market softness continued, impacting factoring volumes and net interest income.
- Credit costs were a drag on earnings, primarily due to equipment finance and construction lending growth.
- Planned investments in initiatives like LoadPay increased noninterest expense.
- TriumphPay's run-rate proportion of all brokered freight is approximately 44%, with progress towards 50% by the end of 2024.
Headline financials
Revenue & EPS history
Triumph Financial · Revenue · Quarterly
$101M
Revenue by segment
Triumph Financial · $39.2M total across 2 segments · Q3 2023
- Factoring$34.2M-34.8%87.4%
- Payments$4.92M-32.4%12.6%
Forward guidance
The first quarter was a disappointment for earnings, but a positive development in advancing our long-term vision. Unless seasonal patterns soon lead to increased activity and pricing, I do not see the seasonal benefit returning for the second quarter.
Tailwinds
- TriumphPay added several brokers, including two midsized freight brokers and a large factor.
- TriumphPay's pipeline remains full.
- Excited about the long-term momentum being created.
- TriumphPay marches on towards its next milestone of touching 50% of all brokered freight.
- The silver lining is that this freight recession has opened doors for us that were not open in prior years.
Headwinds
- Freight continues to be softer than most people predicted.
- Credit noise is a steady hum in the background.
- Earnings headwinds are real.
- Seasonality is back in a way we have not seen since before the pandemic.
- TriumphPay swung to a loss this quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.5%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+3.7%
Avg return
30 days after
48%
26 / 54 earnings
Positive
+12.5%
Q2 2020
Best reaction
-13.9%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | +1.9% | -0.6% | |
| Q4 2025 | -7.2% | -10.6% | -16.3% | |
| Q3 2025 | +7.3% | +25.4% | +9.4% | |
| Q2 2025 | -2.6% | -2.0% | +7.0% | |
| Q1 2025 | -2.4% | -3.0% | +22.8% | |
| Q4 2024 | -13.9% | -14.5% | -26.6% | |
| Q3 2024 | +7.9% | +9.0% | +21.6% | |
| Q2 2024 | -12.6% | -7.7% | -10.3% | |
| Q1 2024 | -9.6% | -7.9% | +1.7% | |
| Q4 2023 | -5.2% | -6.5% | -2.6% | |
| Q3 2023 | +1.3% | +1.0% | +17.6% | |
| Q2 2023 | +0.3% | +0.7% | -5.2% | |
| Q1 2023 | -3.3% | -0.9% | +0.8% | |
| Q4 2022 | -2.2% | +2.9% | +15.0% | |
| Q3 2022 | -10.1% | -17.2% | +4.7% | |
| Q2 2022 | +6.9% | +4.5% | +8.1% | |
| Q1 2022 | -6.4% | -8.1% | -19.6% | |
| Q4 2021 | -12.4% | -18.8% | -13.9% | |
| Q3 2021 | +0.0% | +6.3% | +18.9% | |
| Q2 2021 | +2.3% | +2.9% | +10.2% | |
| Q1 2021 | -0.4% | +0.5% | -8.6% | |
| Q4 2020 | +4.2% | +10.1% | +28.5% | |
| Q3 2020 | +3.9% | +8.1% | +11.2% | |
| Q2 2020 | +12.5% | +10.2% | +18.4% | |
| Q1 2020 | -4.3% | -8.3% | -7.7% | |
| Q4 2019 | +6.0% | +5.2% | +10.3% | |
| Q3 2019 | +1.1% | +5.8% | +5.5% | |
| Q2 2019 | +7.8% | +9.2% | +7.0% | |
| Q1 2019 | -4.6% | -7.3% | -2.6% | |
| Q4 2018 | -9.1% | -4.2% | +3.0% | |
| Q3 2018 | -2.0% | -7.2% | +0.2% | |
| Q2 2018 | -1.6% | -1.4% | +2.7% | |
| Q1 2018 | +2.0% | +0.5% | +3.8% | |
| Q4 2017 | +7.2% | +6.9% | +15.6% | |
| Q3 2017 | -0.6% | +1.3% | -5.1% | |
| Q2 2017 | +7.8% | +14.1% | +8.7% | |
| Q1 2017 | -3.7% | -9.8% | -12.9% | |
| Q4 2016 | +3.6% | +5.9% | +5.6% | |
| Q3 2016 | -4.1% | -5.8% | +11.4% | |
| Q2 2016 | +4.1% | +2.2% | +9.7% | |
| Q1 2016 | +0.2% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2015 | -1.0% | — | — | |
| Q2 2015 | +3.1% | — | — | |
| Q1 2014 | +0.2% | — | — | |
| Q1 2015 | +2.7% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2014 | -2.5% | — | — | |
| Q2 2013 | +1.0% | — | — | |
| Q3 2013 | +1.0% | — | — | |
| Q3 2014 | +1.0% | — | — |
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