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Live Oak Bancshares (LOB) Reports Q1 Earnings: What Key Metrics Have to Say

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For the quarter ended March 2024, Live Oak Bancshares (LOB - Free Report) reported revenue of $116.21 million, up 14.4% over the same period last year. EPS came in at $0.36, compared to $0.01 in the year-ago quarter.

The reported revenue represents a surprise of -2.26% over the Zacks Consensus Estimate of $118.89 million. With the consensus EPS estimate being $0.48, the EPS surprise was -25.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Live Oak Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency Ratio: 67.7% compared to the 68.7% average estimate based on four analysts.
  • Net Interest Margin: 3.3% compared to the 3.3% average estimate based on four analysts.
  • Average Balance - Total interest-earning assets: $10.89 billion versus $10.85 billion estimated by four analysts on average.
  • Net charge-offs to average loans and leases held for investment: 0.2% compared to the 0.2% average estimate based on three analysts.
  • Total noninterest income: $26.10 million versus the four-analyst average estimate of $30.24 million.
  • Net Interest Income: $90.11 million versus the four-analyst average estimate of $89.49 million.
  • Net gains on sales of loans: $11.50 million compared to the $13.61 million average estimate based on three analysts.
  • Loan servicing revenue: $7.62 million compared to the $7.59 million average estimate based on three analysts.
  • Management fee income: $3.27 million compared to the $3.34 million average estimate based on two analysts.
  • Lease income: $2.45 million versus the two-analyst average estimate of $2.44 million.
  • Other noninterest income: $9.76 million versus $4.11 million estimated by two analysts on average.
View all Key Company Metrics for Live Oak Bancshares here>>>

Shares of Live Oak Bancshares have returned -0.8% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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