NASDAQ$WAFD
WaFd Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported quarterly earnings with an increase compared to the same quarter last year.
Washington Federal announced quarterly earnings of $65,934,000 for the quarter ended March 31, 2023, a 33.6% increase from $49,359,000 for the quarter ended March 31, 2022. Earnings per diluted share increased to $0.95, compared to $0.70 for the same quarter last year.
- Net income for the quarter ended March 31, 2023 was $65,934,000, up 33.6% year-over-year.
- Diluted earnings per share increased by 35.7% to $0.95 compared to $0.70 in the same quarter last year.
- Net interest margin increased to 3.51% compared to 2.90% for the prior year quarter.
- Total assets were $22.3 billion as of March 31, 2023, compared to $20.8 billion at September 30, 2022.
Headline financials
Revenue & EPS history
WaFd · Revenue · Quarterly
$185M
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
The company acknowledges the challenging interest rate environment and is closely monitoring credit quality, but remains confident in its strong capital position and the economic vitality of its markets.
Tailwinds
- Strong capital position.
- Experienced bankers.
- Conservative lending practices.
- Diversified loan portfolio across eight western states.
- Strong job growth in operating markets.
Headwinds
- Challenging interest rate environment.
- Inverted yield curve compressing bank margins.
- Decrease in net interest margin from 3.69% to 3.51%.
- First quarterly net charge-off in almost a decade.
- Potential deterioration in commercial real estate values.
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 Q2 2023
+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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