NASDAQ$TFIN
Triumph Financial Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported net income to common stockholders of $12.0 million, or $0.51 per diluted share for the third quarter.
Triumph Financial reported a net income of $12.0 million, or $0.51 per diluted share, for the third quarter. TriumphPay's revenue grew by 16.7%, and its EBITDA margins improved to (15)%. Non-interest expenses declined by about $4 million relative to the last quarter.
- TriumphPay's momentum and financial performance has exceeded expectations, with revenue growing by 16.7% this quarter.
- The company experienced a unique quarter from an expense perspective, with non-interest expenses declining about $4 million relative to last quarter.
- The freight market has not rebounded, and it could get worse before it gets better.
- The company believes that short-term discomforts in the freight market should create long-term value.
Headline financials
Revenue & EPS history
Triumph Financial · Revenue · Quarterly
$105M
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
Triumph Financial anticipates Q4 expenses to align more closely with Q2 levels. For 2024, the company projects full-year expenses to increase by approximately 5% compared to 2023.
Tailwinds
- The company is working on initiatives to expand the value and scope of the payments network.
- They are prepared to endure and expect to be profitable whatever comes their way.
- The company continues to raise deposit rates for existing balances on an exception basis.
- They are gathering new core deposits at rates modestly below wholesale funding costs to further reduce our use of wholesale funding and lower our total cost of funds and maximize liquidity availability.
- The company intends to continue to act quickly and leverage industry connections to minimize losses as we have done in the past.
Headwinds
- Building pressure on CRE and equipment finance borrowers is expected to cause significant credit stress for many lenders in coming quarters.
- The interest rate environment appears to be higher for longer, translating into higher operating costs for truckers.
- The average revenue per mile has not kept pace with higher operating costs for truckers.
- The market is decreasing in total carrier count with many small carriers failing or migrating to larger carriers.
- Freight market conditions are expected to remain challenging.
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 Q3 2023
-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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