NASDAQ$TFSL

TFS Financial Corporation · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Net income increased due to a rise in net interest income and a decrease in non-interest expense, despite a decline in net gain on loan sales.

TFS Financial Corporation reported a net income of $17.0 million for the quarter ended September 30, 2021, compared to $13.6 million for the same quarter in the previous year. The increase was driven by higher net interest income and lower non-interest expense, partially offset by lower net gain on the sale of loans. Loan origination volumes remained high, and the credit profile of customers remained strong.

  • Net income increased to $17.0 million compared to $13.6 million in the prior year quarter.
  • Net interest income rose to $57.4 million from $50.2 million in the prior year quarter.
  • Non-interest expense decreased to $47.4 million from $50.6 million in the prior year quarter.
  • Total assets decreased to $14.06 billion from $14.64 billion year-over-year.

Headline financials

Total Revenue

$66.1M

Previous: $67.2M-1.7%
EPS (adj)

$0.06

Previous: $0.05+20.0%
Tier 1 leverage ratio

12.7%

Previous: 11.9%+6.5%
Common Equity Tier 1

23.2%

Previous: 22.1%+4.7%
Total capital ratio

23.8%

Previous: 22.7%+4.6%
Interest rate spread

1.6%

Previous: 1.2%+26.0%
Net interest margin

1.7%

Previous: 1.4%+20.0%
Return on avg. assets

0.5%

No prior period
Return on avg. equity

3.9%

No prior period
Capital Expenditures

$102K

Previous: $375K-72.8%
Free Cash Flow

-$38.3M

Previous: $30M-227.6%
Net Income

$17M

Previous: $13.6M+25.3%
Operating Income

$20.6M

Previous: $16.7M+23.9%
Cash & Equivalents

$488M

Previous: $498M-1.9%
Total Assets

$14.1B

Previous: $14.6B-4.0%
Stock-Based Comp

$3.23M

Previous: $2.8M+15.3%

Revenue & EPS history

TFS Financial · Revenue · Quarterly

$66.1M

Q4 2021-1.7%vs Q4 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

TFS Financial · $11.9M total across 4 segments · Q1 2020

  • Other non-interest income
    $5.3M+326.6%
  • Gain on sale of loans
    $2.93M+2535.1%
  • Fees & service charges
    $2.15M+20.8%
  • BOLI benefits
    $1.56M+0.9%

Forward guidance

This report contains forward-looking statements and our actual future results may be materially different from the results indicated by any forward-looking statements.

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 Q4 2021

Historical avgQ4 2021

+0.2%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+2.5%

Avg return

30 days after

48%

31 / 65 earnings

Positive

+8.5%

Q2 2020

Best reaction

-5.5%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+2.0%+0.4%+5.9%
Q1 2026-4.1%+0.3%-4.6%
Q4 2025-1.0%+3.8%+7.5%
Q2 2025+1.6%+1.1%-0.1%
Q1 2025+7.3%+7.2%+3.1%
Q4 2024-0.7%-1.5%+9.3%
Q3 2024-1.4%-5.7%-2.0%
Q2 2024+4.3%+9.0%+7.5%
Q1 2024-5.3%-5.3%-9.4%
Q4 2023+5.1%+6.8%+22.7%
Q3 2023+2.7%+5.8%-3.5%
Q2 2023-0.5%-3.9%-5.9%
Q1 2023-1.6%-2.9%-1.5%
Q4 2022+8.2%+6.5%+6.2%
Q3 2022+3.0%+3.1%+3.7%
Q2 2022-0.5%-0.7%-0.7%
Q1 2022-1.0%+0.0%-0.5%
Q4 2021+1.2%+1.5%-2.2%
Q3 2021-0.7%-2.5%+1.4%
Q2 2021-2.2%-2.7%+10.7%
Q1 2021-2.9%-3.0%+7.4%
Q4 2020-0.1%+0.9%+12.7%
Q3 2020+3.5%-1.4%+11.4%
Q2 2020+8.5%+7.6%+8.5%
Q1 2020+3.1%+6.6%+3.1%
Q4 2019-0.1%+1.8%+5.3%
Q3 2019-2.3%-4.2%-3.4%
Q2 2019-0.9%+5.3%+3.9%
Q1 2019-2.7%+0.0%+1.7%
Q4 2018+1.6%+3.2%+7.0%
Q3 2018-5.5%-4.1%-5.2%
Q2 2018-0.7%+1.1%+5.5%
Q1 2018-0.6%+2.9%+0.1%
Q4 2017-3.3%-2.4%-3.1%
Q3 2017+1.2%+2.4%-2.0%
Q2 2017+1.3%+0.1%-4.9%
Q1 2017-4.7%-6.3%-6.2%
Q4 2016+0.3%-0.5%+6.7%
Q3 2016+0.5%-0.6%+1.3%
Q2 2016-1.2%
Q1 2016+1.0%
Q4 2015-0.2%
Q3 2015+1.1%
Q2 2015-2.4%
Q1 2015-0.3%
Q4 2014+2.4%
Q3 2014+0.4%
Q2 2014-0.2%
Q1 2014+0.5%
Q4 2013-1.6%
Q3 2013-0.8%
Q2 2013+1.1%
Q1 2013+2.8%
Q4 2012+0.1%
Q3 2012-0.9%
Q2 2012+0.8%
Q1 2012+0.7%
Q4 2011+2.8%
Q3 2011+1.2%
Q2 2011+1.5%
Q1 2011+2.6%
Q4 2010-3.0%
Q4 2009-0.7%
Q3 2010-0.7%
Q2 2010-4.0%

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