NYSE$NBHC

National Bank Holdings Corporation · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

NBHC outperformed expectations driven by mortgage banking income and strong earning asset growth.

National Bank Holdings Corporation reported a net income of $17.7 million, or $0.57 per diluted share, for the second quarter of 2020. Adjusted net income totaled $19.0 million, or $0.62 per diluted share. The company experienced strong earning asset growth and maintained excellent credit quality.

  • Adjusted net income of $0.62 per diluted share, $0.12 per share higher than the first quarter
  • Maintained excellent credit quality with low annualized net charge-offs of just 0.05%
  • Non-performing loan ratio decreased five basis points from the prior quarter to 0.42% of total loans
  • Tangible book value per share grew by $0.40 during the quarter to $21.67

Headline financials

Total Revenue

$86.2M

Previous: $73.2M+17.8%
EPS (adj)

$0.62

Previous: $0.64-3.1%
CET1 Capital Ratio

13.2%

No prior period
Total Risk-Based Capital Ratio

14.3%

No prior period
Free Cash Flow

$17.7M

Previous: $20.3M-12.7%
Net Income

$17.7M

Previous: $20.3M-12.7%
Operating Income

$55.2M

Previous: $48.1M+14.7%
Gross Profit

$75.9M

Previous: $69.9M+8.6%
Cash & Equivalents

$142M

Previous: $91.2M+56.2%
Total Assets

$6.39B

Previous: $5.86B+9.0%
Stock-Based Comp

$1.61M

Previous: $1.51M+6.8%

Revenue & EPS history

NBHC · Revenue · Quarterly

$86.2M

Q2 2020+17.8%vs Q2 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Forward guidance

The COVID-19 pandemic has caused substantial disruption to the communities we serve and has changed the way we live and work. The length of the pandemic and the efficacy of the extraordinary government-mandated measures that have been put into place to address it are unknown, but have already had, and are likely to continue to have, a significantly negative impact to the U.S. labor market, consumer spending and business operations.

Tailwinds

  • Leveraged digital banking platform

Headwinds

  • The length of the pandemic and the efficacy of the extraordinary government-mandated measures that have been put into place to address it are unknown
  • Significantly negative impact to the U.S. labor market
  • Significantly negative impact to consumer spending
  • Significantly negative impact to business operations

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 2020

Historical avgQ2 2020

+0.7%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+3.2%

Avg return

30 days after

41%

26 / 64 earnings

Positive

+9.3%

Q1 2019

Best reaction

-6.3%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.4%+2.5%-0.4%
Q4 2025-0.5%+1.4%-0.2%
Q3 2025+2.4%+0.5%-0.1%
Q1 2025-6.2%-2.1%-0.2%
Q4 2024-3.0%-1.5%-3.7%
Q3 2024+8.9%+8.7%+16.7%
Q2 2024-5.7%-6.6%-4.0%
Q1 2024-2.6%-4.9%+7.5%
Q4 2023+0.6%+2.9%-6.9%
Q3 2023+8.0%+7.4%+14.6%
Q2 2023-3.4%-3.2%-6.3%
Q1 2023-5.5%-8.2%-9.0%
Q4 2022-1.7%-1.6%-3.8%
Q3 2022+8.4%+9.0%+20.1%
Q2 2022+3.1%+2.3%+8.2%
Q1 2022+3.3%-0.4%+0.3%
Q4 2021+7.9%+6.5%+4.0%
Q3 2021+4.5%+6.4%+9.7%
Q2 2021-0.4%-1.0%+2.6%
Q1 2021+5.1%+5.1%+6.7%
Q4 2020+0.8%-4.2%+3.4%
Q3 2020+6.7%+5.0%+8.2%
Q2 2020+4.2%+1.9%+4.1%
Q1 2020+0.8%+13.0%+10.0%
Q4 2019-6.3%-8.2%-5.3%
Q3 2019-3.3%-5.0%-3.5%
Q2 2019+4.5%+8.7%-1.9%
Q1 2019+9.3%+9.9%+6.0%
Q4 2018-2.3%-2.4%+9.4%
Q3 2018-5.9%-4.6%+4.2%
Q2 2018+1.1%+2.4%+3.9%
Q1 2018+0.5%+2.5%+13.3%
Q4 2017-2.3%-3.3%-1.5%
Q3 2017-2.9%-7.5%-9.3%
Q2 2017-1.4%+1.2%-5.3%
Q1 2017-0.4%+2.3%-2.1%
Q4 2016+4.9%+2.5%+4.3%
Q3 2016+6.1%+5.7%+19.5%
Q2 2016-1.2%-1.6%+11.5%
Q1 2016-4.1%
Q4 2015+2.3%
Q3 2015+8.1%
Q2 2015-1.1%
Q1 2015-0.1%
Q4 2014+3.3%
Q3 2014-1.4%
Q2 2014+2.7%
Q1 2014-1.8%
Q4 2013-1.9%
Q3 2013+3.2%
Q2 2013-0.5%
Q1 2012+1.7%
Q1 2013-0.7%
Q1 2010-0.1%
Q2 2011-0.1%
Q4 2011-0.1%
Q4 2010-0.1%
Q2 2012-0.1%
Q3 2010-0.1%
Q2 2010-0.1%
Q1 2011-0.1%
Q4 2012-0.6%
Q3 2012-0.3%
Q3 2011-0.3%

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