NYSE$FLG

Flagstar Financial Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported diluted EPS of $0.31 on a GAAP basis and diluted EPS of $0.32 on a non-GAAP basis.

New York Community Bancorp reported a positive start to the year with growth in loans, deposits, net income, and earnings per share. Diluted EPS increased 7% to $0.31, and non-GAAP diluted EPS were $0.32, up 10% year-over-year. Total loans grew by $1 billion, led by multi-family loans, and total deposits increased by nearly $3 billion, driven by Banking as a Service business growth.

  • First-quarter GAAP diluted EPS were $0.31, up 7% compared to first-quarter 2021; non-GAAP diluted EPS were $0.32, up 10% compared to first-quarter 2021.
  • Net income available to common stockholders on a GAAP basis totaled $147 million, up 7% compared to first quarter 2021; On a non-GAAP basis, net income available to common stockholders totaled $152 million, up 11% compared to first quarter 2021.
  • Total loans held for investment increased by $1.0 billion to $46.8 billion.
  • Total deposits increased $2.9 billion to $38.0 billion.

Headline financials

Total Revenue

$346M

Previous: $332M+4.2%
EPS (adj)

$0.96

Previous: $0.87+10.3%
Net Interest Margin

2.4%

Previous: 2.5%-2.0%
Efficiency Ratio

38.6%

Previous: 39.9%-3.1%
Tier 1 Capital Ratio

10.6%

Previous: 11.1%-4.7%
Total Capital Ratio

12.4%

Previous: 13.1%-5.3%
Leverage Ratio

8.3%

Previous: 8.4%-1.0%
NPAs to Total Assets

0.1%

No prior period
Capital Expenditures

$1M

No prior period
Free Cash Flow

$184M

No prior period
Net Income

$155M

Previous: $146M+6.5%
Operating Income

$212M

Previous: $201M+5.3%
Gross Profit

$344M

Previous: $328M+4.7%
Cash & Equivalents

$2.9B

Previous: $2.72B+6.5%
Total Assets

$61B

Previous: $57.7B+5.8%
Stock-Based Comp

$7M

Previous: $9M-22.2%

Revenue & EPS history

Flagstar Financial · Revenue · Quarterly

$346M

Q1 2022+4.2%vs Q1 2021
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Forward guidance

This earnings release includes forward-looking statements regarding revenues, earnings, loan production, asset quality, capital levels, and acquisitions, among other matters. These statements are subject to numerous assumptions, risks, and uncertainties, which change over time.

Tailwinds

  • Goals
  • Intentions
  • Expectations regarding revenues
  • Earnings
  • Loan production

Headwinds

  • Effect of the COVID-19 pandemic
  • General economic conditions and trends
  • Conditions in the securities markets
  • Changes in interest rates
  • Changes in deposit flows

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 2022

Historical avgQ1 2022

+0.1%

Avg return

Earnings day

-0.0%

Avg return

5 days after

-0.8%

Avg return

30 days after

49%

36 / 73 earnings

Positive

+27.2%

Q1 2024

Best reaction

-44.6%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.2%-3.8%-3.4%
Q4 2025-2.2%+3.5%-6.3%
Q3 2025+4.8%-0.3%-1.8%
Q2 2025+0.0%+0.8%+5.8%
Q1 2025+4.1%+3.9%+4.9%
Q4 2024+15.3%+23.9%+25.0%
Q3 2024+3.7%-0.5%+3.5%
Q2 2024+2.6%-3.1%+3.2%
Q1 2024+27.2%+37.7%+24.2%
Q4 2023-44.6%-48.0%-65.8%
Q3 2023-8.2%-6.1%-9.2%
Q2 2023+10.3%+9.9%-4.4%
Q1 2023+16.5%+6.5%+14.0%
Q4 2022+5.0%+4.2%-11.6%
Q3 2022-2.2%+4.0%+5.7%
Q2 2022+12.9%+13.3%+7.3%
Q1 2022-1.6%-3.2%+1.6%
Q4 2021-4.0%-4.3%-5.3%
Q3 2021-9.3%-9.8%-11.0%
Q2 2021+7.8%+7.4%+13.9%
Q1 2021+6.3%-0.3%-0.9%
Q4 2020-2.3%-4.2%+11.4%
Q3 2020-1.7%+1.1%+15.0%
Q2 2020+5.1%+0.1%-11.0%
Q1 2020+5.5%+2.2%-2.3%
Q4 2019-5.7%-5.1%-7.8%
Q3 2019-14.9%-12.6%-12.9%
Q2 2019+3.5%+2.1%+3.0%
Q1 2019-0.4%+1.5%-13.0%
Q4 2018+6.9%+9.0%+16.4%
Q3 2018-3.0%-0.6%+2.2%
Q2 2018-7.5%-5.1%-5.6%
Q1 2018-8.2%-8.3%-8.3%
Q4 2017+1.9%-3.0%+1.5%
Q3 2017-0.4%-1.8%-0.2%
Q2 2017-3.4%-1.4%-9.0%
Q1 2017-2.5%-3.6%-5.3%
Q4 2016-6.3%-6.1%-4.6%
Q3 2016+0.1%-0.1%+11.4%
Q2 2016-3.1%-1.8%-0.7%
Q1 2016-4.3%
Q4 2015+2.7%
Q3 2015-0.3%
Q2 2015+1.5%
Q1 2015+1.6%
Q4 2014+0.3%
Q3 2014+1.1%
Q2 2014+2.8%
Q1 2014-1.6%
Q4 2013-2.2%
Q3 2013+1.5%
Q2 2013-1.0%
Q1 2013-1.2%
Q4 2012+1.0%
Q3 2012-0.6%
Q2 2012+0.8%
Q1 2012-0.9%
Q4 2011-0.2%
Q3 2011-6.3%
Q2 2011+3.2%
Q1 2011+1.2%
Q4 2010-3.2%
Q3 2010+0.8%
Q2 2010-0.2%
Q1 2009+4.7%
Q1 2010+0.0%
Q4 2007+1.5%
Q4 2009+1.5%
Q4 2008+1.5%
Q3 2009+1.8%
Q3 2008+1.8%
Q2 2008-5.6%
Q2 2009-5.6%

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