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Tuesday, November 6, 2018

=On Deck Capital (ONDK) reported earnings on Tue 6 Nov 2018 (b/o)

On Deck Capital is an American online small business lending company with
Headquarters: New York City, NY
Other locations: Virginia and Denver, Colorado.
Sector: Financial Services
Industry: Credit Services
Full Time Employees: 528

On Deck Capital beats by $0.06, beats on revs; raises FY18 adj. net income guidance, guides FY18 revs above consensus

  • Reports Q3 (Sep) earnings of $0.17 per share, excluding non-recurring items, $0.06 better thanthe S&P Capital IQ Consensus of $0.11; revenues rose 23.1% year/year to $103 mln vs the $98.32 mln S&P Capital IQ Consensus.
  • Co issues upside guidance for FY18, sees FY18 revs of $392-396 mln vs. $384.26 mln S&P Capital IQ Consensus. Sees adjusted net income of $40 million to $44 million, up from $30 million to $36 million.
  • OnDeck expects current operating trends to extend into 2019 with ongoing strength in originations resulting in low double-digit loan growth, a stable net interest margin as higher market interest rates mitigate lower borrowing spreads, and a stable annual efficiency ratio as positive operating leverage in the U.S. lending business offsets approximately $15 million of incremental investment in our strategic growth initiatives including ODX. These expectations assume the macro-economic, small business lending and capital market environments remain favorable.
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