Demo
LOAN Nasdaq· Manhattan Bridge Capital Inc.
FundamentalsNews digest Peer analysis
Login
LOAN Nasdaq· Manhattan Bridge Capital Inc.
Earnings report Q3 2023

LOAN Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

LOAN reported total revenues of approximately $2.43 billion for the three months ended September 30, 2023, compared to approximately $2.11 billion for the same period in 2022. This represents an increase of $327 million or 15.5%. The majority of the revenue increase was attributed to higher interest rates charged on the company's commercial loans.

Strengths

LOAN's strong revenue growth in the latest quarter can be attributed to the higher interest rates charged on their commercial loans. This indicates that the company is effectively capitalizing on market conditions and maximizing their interest income. Management comments suggest that the increase in revenue was primarily driven by interest income on secured commercial loans offered to real estate investors, as well as origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.

Challenges

There are no specific weaknesses or challenges mentioned in the provided context block regarding LOAN's financial performance in the latest quarter.

Noteworthy

It is noteworthy that LOAN's revenue growth in the latest quarter was primarily driven by higher interest rates charged on their commercial loans. This indicates that the company's lending activities are generating increased interest income, which is a positive sign for their profitability.

Summary

LOAN reported strong revenue growth in the latest quarter, with total revenues increasing by 15.5% compared to the same period last year. The increase in revenue was primarily driven by higher interest rates charged on the company's commercial loans. This indicates that LOAN is effectively capitalizing on market conditions and maximizing their interest income. The company's lending activities, which are secured by collateral consisting of real estate and accompanied by personal guarantees, have contributed to their revenue growth. Overall, LOAN's financial performance in the latest quarter demonstrates their ability to generate strong revenue through their lending operations.

Source documents

Form 10-Q  filed on Oct 24, 2023
51 pages scanned

Reference data

Company financials Q3 revenue 1.8M
Analyst estimates Q3 EPS beat by 18.18%
Sign up to Fey

Get in-depth analysis on thousands of stocks for just $30/month. Cancel anytime.