NASDAQ$WAFD
WaFd Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported quarterly earnings of $0.85 per share, reflecting a decrease compared to the previous year but an increase from the prior quarter.
WaFd, Inc. reported quarterly earnings of $58.453 million, which translates to $0.85 per diluted share. While this represents a decrease compared to the same quarter last year, it is an increase compared to the previous quarter. The net interest margin decreased to 2.91%, and the company saw net recoveries for the quarter with strong credit metrics.
- Net earnings for the quarter were $58,453,000, up 16% from the previous quarter but down 26% year-over-year.
- Diluted earnings per common share were $0.85, an increase of $0.13 from the previous quarter but a decrease of $0.31 from the prior year.
- Net interest margin decreased to 2.91% compared to 3.69% in the same quarter last year.
- Delinquencies were 0.33%, and non-performing loans to total loans ratio was 0.26%.
Headline financials
Revenue & EPS history
WaFd · Revenue · Quarterly
$166M
Revenue by segment
WaFd · $13.9M total across 3 segments · Q1 2021
- Deposit Fee Income$6.03M—43.4%
- Other Income$5.45M—39.3%
- Loan Fee Income$2.39M—17.2%
Forward guidance
WaFd anticipates the approval of the Luther Burbank Corporation acquisition and expects that potential Federal Reserve interest rate decreases will improve the Bank's profitability.
Tailwinds
- Anticipated approval of the Luther Burbank Corporation acquisition.
- Potential decrease in Federal Reserve interest rates.
- Expected improvement in profitability due to interest rate changes.
- Decline in long-term interest rates narrows the refinance gap for borrowers.
- Strategic investments position the Bank to adopt new technologies.
Headwinds
- Net interest margin dipped below 3% to 2.91%.
- Competition for deposits remains intense.
- Uncertainty regarding the potential downturn of the commercial real estate market.
- Inverted yield curve impacting interest margins.
- Increased expenses leading to a higher efficiency ratio.
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
+0.2%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.2%
Avg return
30 days after
51%
35 / 69 earnings
Positive
+9.9%
Q4 2022
Best reaction
-5.7%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -1.4% | +7.8% | +5.5% | |
| Q1 2026 | -4.0% | -1.8% | -7.9% | |
| Q4 2025 | +0.9% | +4.6% | +9.8% | |
| Q3 2025 | -1.6% | -1.3% | +0.6% | |
| Q2 2025 | +0.1% | +1.3% | +0.9% | |
| Q1 2025 | -5.7% | -6.9% | -7.2% | |
| Q4 2024 | -1.6% | -7.7% | +0.5% | |
| Q3 2024 | +7.8% | +9.1% | +8.6% | |
| Q2 2024 | +2.5% | +0.0% | +2.9% | |
| Q1 2024 | -5.7% | -3.5% | -5.1% | |
| Q4 2023 | -3.3% | -5.5% | +5.4% | |
| Q3 2023 | +2.0% | +9.6% | +8.5% | |
| Q2 2023 | -2.4% | -0.1% | -14.0% | |
| Q1 2023 | +4.5% | +3.5% | +2.8% | |
| Q4 2022 | +9.9% | +17.9% | +19.7% | |
| Q3 2022 | +1.1% | +5.0% | +15.6% | |
| Q2 2022 | +1.8% | +3.1% | -0.7% | |
| Q1 2022 | +3.5% | +3.2% | -1.9% | |
| Q4 2021 | +3.7% | +2.6% | +2.6% | |
| Q3 2021 | +0.5% | +1.9% | +7.2% | |
| Q2 2021 | +1.1% | +5.2% | +6.5% | |
| Q1 2021 | +1.3% | +2.6% | +6.7% | |
| Q4 2020 | -0.8% | -3.7% | +5.6% | |
| Q3 2020 | -0.5% | -6.7% | -3.9% | |
| Q2 2020 | -0.6% | +1.3% | +1.5% | |
| Q1 2020 | +0.2% | -0.1% | -2.1% | |
| Q4 2019 | -2.2% | -1.5% | +0.5% | |
| Q3 2019 | +0.5% | +1.1% | -1.9% | |
| Q2 2019 | +4.3% | +6.2% | +3.6% | |
| Q1 2019 | +2.2% | +6.2% | +6.6% | |
| Q4 2018 | +0.6% | -0.9% | -5.7% | |
| Q3 2018 | +1.4% | +3.6% | +5.5% | |
| Q2 2018 | -4.7% | -4.2% | -5.3% | |
| Q1 2018 | +2.9% | +4.9% | +2.1% | |
| Q4 2017 | +2.6% | +2.6% | -1.3% | |
| Q3 2017 | +0.6% | +1.1% | -4.7% | |
| Q2 2017 | +1.5% | +1.4% | -1.1% | |
| Q1 2017 | -2.5% | -1.8% | +1.0% | |
| Q4 2016 | +2.2% | +2.5% | +18.4% | |
| Q3 2016 | -0.4% | -1.3% | +0.5% | |
| Q2 2016 | +2.6% | — | — | |
| Q1 2016 | -1.9% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | -0.5% | — | — | |
| Q2 2015 | +2.6% | — | — | |
| Q4 2014 | -4.5% | — | — | |
| Q1 2015 | -4.5% | — | — | |
| Q3 2014 | -1.7% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | -2.5% | — | — | |
| Q4 2013 | +5.2% | — | — | |
| Q3 2013 | +6.9% | — | — | |
| Q2 2013 | -2.5% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | +3.1% | — | — | |
| Q3 2012 | -3.4% | — | — | |
| Q2 2012 | -0.2% | — | — | |
| Q1 2012 | +3.4% | — | — | |
| Q4 2011 | -2.9% | — | — | |
| Q3 2011 | +0.6% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q2 2011 | -0.2% | — | — | |
| Q1 2010 | -0.5% | — | — | |
| Q1 2011 | -0.6% | — | — | |
| Q2 2010 | -1.2% | — | — | |
| Q4 2008 | -1.2% | — | — | |
| Q3 2009 | -3.6% | — | — | |
| Q4 2009 | -3.6% | — | — | |
| Q3 2010 | -3.6% | — | — |
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