Standard Premium Finance Holdings, Inc. Announces Third Quarter 2024 Financial Results
Standard Premium Finance Holdings (SPFX) reported strong Q3 2024 financial results, with revenue exceeding $3 million, up 19% year-over-year. Net income reached $300,627 ($0.07 per diluted share), a 157% increase from Q3 2023. EBIT grew 32% to $1.56 million. The loan portfolio expanded to $67.78 million, up 11.6% since 2023 year-end. The weighted-average APR on new loans increased to 18.25%. Year-to-date performance showed revenue of $9.02 million and net income of $746,881 ($0.19 per diluted share). The company maintains an optimistic outlook, citing favorable interest rate environment and growth opportunities.
Standard Premium Finance Holdings (SPFX) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con ricavi superiori a 3 milioni di dollari, in crescita del 19% rispetto all'anno precedente. L'utile netto ha raggiunto 300.627 dollari (0,07 dollari per azione diluita), con un incremento del 157% rispetto al terzo trimestre del 2023. L'EBIT è cresciuto del 32%, arrivando a 1,56 milioni di dollari. Il portafoglio prestiti è aumentato a 67,78 milioni di dollari, con un incremento dell'11,6% rispetto alla fine del 2023. Il tasso di interesse medio ponderato sui nuovi prestiti è salito al 18,25%. Le performance da inizio anno mostrano ricavi di 9,02 milioni di dollari e un utile netto di 746.881 dollari (0,19 dollari per azione diluita). L'azienda mantiene un outlook ottimista, citando un ambiente favorevole dei tassi d'interesse e opportunità di crescita.
Standard Premium Finance Holdings (SPFX) reportó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos que superaron 3 millones de dólares, un aumento del 19% en comparación con el año anterior. El ingreso neto alcanzó 300,627 dólares (0,07 dólares por acción diluida), un incremento del 157% desde el tercer trimestre de 2023. El EBIT creció un 32% hasta 1,56 millones de dólares. La cartera de préstamos se expandió a 67,78 millones de dólares, con un aumento del 11,6% desde finales de 2023. La tasa de APR promedio ponderada en los nuevos préstamos aumentó al 18,25%. El rendimiento acumulado hasta la fecha mostró ingresos de 9,02 millones de dólares y un ingreso neto de 746,881 dólares (0,19 dólares por acción diluida). La empresa mantiene una perspectiva optimista, citando un entorno favorable de tasas de interés y oportunidades de crecimiento.
스탠다드 프리미엄 파이낸스 홀딩스(SPFX)는 2024년 3분기 재무 결과가 양호하다고 보고하며, 수익이 300만 달러를 초과하고 전년 대비 19% 상승했다고 밝혔습니다. 순이익은 300,627 달러 (희석주당 0.07 달러)로, 2023년 3분기 대비 157% 증가했습니다. EBIT는 32% 증가하여 156만 달러에 이르렀습니다. 대출 포트폴리오는 6,778만 달러로 확대되었으며, 2023년 말 대비 11.6% 증가했습니다. 신규 대출의 가중 평균 APR은 18.25%로 증가했습니다. 연초부터의 실적은 902만 달러의 수익과 746,881 달러의 순이익(희석주당 0.19 달러)을 기록했습니다. 회사는 유리한 금리 환경과 성장 기회를 언급하며 낙관적인 전망을 유지하고 있습니다.
Standard Premium Finance Holdings (SPFX) a annoncé des résultats financiers solides pour le troisième trimestre 2024, avec des revenus dépassant 3 millions de dollars, en hausse de 19 % par rapport à l'année précédente. Le revenu net a atteint 300,627 dollars (0,07 dollars par action diluée), soit une augmentation de 157 % par rapport au troisième trimestre 2023. L'EBIT a augmenté de 32 % pour atteindre 1,56 million de dollars. Le portefeuille de prêts s'est élargi à 67,78 millions de dollars, en hausse de 11,6 % depuis la fin de 2023. Le taux d'intérêt annuel moyen pondéré sur les nouveaux prêts a augmenté à 18,25 %. Les performances cumulées depuis le début de l'année montrent un revenu de 9,02 millions de dollars et un revenu net de 746,881 dollars (0,19 dollars par action diluée). L'entreprise maintient une perspective optimiste, citant un environnement de taux d'intérêt favorable et des opportunités de croissance.
Standard Premium Finance Holdings (SPFX) hat starke Finanzzahlen für das dritte Quartal 2024 gemeldet, mit Einnahmen von über 3 Millionen Dollar, was einem Anstieg von 19% im Jahresvergleich entspricht. Der Nettogewinn erreichte 300.627 Dollar (0,07 Dollar pro verwässerter Aktie), was einem Anstieg von 157% im Vergleich zum dritten Quartal 2023 entspricht. Das EBIT wuchs um 32% auf 1,56 Millionen Dollar. Das Kreditportfolio erweiterte sich auf 67,78 Millionen Dollar, was einem Anstieg von 11,6% seit Ende 2023 entspricht. Der gewichtete durchschnittliche APR für neue Kredite stieg auf 18,25%. Die Performance seit Jahresbeginn zeigt Einnahmen von 9,02 Millionen Dollar und einen Nettogewinn von 746.881 Dollar (0,19 Dollar pro verwässerter Aktie). Das Unternehmen behält eine optimistische Prognose bei, indem es ein günstiges Zinsumfeld und Wachstumschancen anführt.
- Revenue grew 19% YoY to over $3 million in Q3 2024
- Net income increased 157% to $300,627 compared to Q3 2023
- EBIT rose 32% to $1.56 million YoY
- Loan portfolio expanded 11.6% to $67.78 million
- Weighted-average APR increased by 128 basis points to 18.25%
- Return on common equity exceeded 20% for Q3 2024
- None.
MIAMI, Florida, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Standard Premium Finance Holdings, Inc. (“Standard”) (OTCQX: SPFX), a leader in the insurance premium finance industry, announced financial results for the third quarter ended September 30, 2024, as reported in its Form 10-Q filed with the Securities and Exchange Commission.
As Standard celebrates its 33rd year in business, the company reflects on decades of service and innovation in the insurance premium finance industry. “This milestone is a testament to the hard work, resilience, and dedication of our team, as well as the trust placed in us by our clients and partners,” said William Koppelmann, CEO of Standard. “For over three decades, we’ve remained committed to delivering exceptional solutions that empower policyholders and agents alike. As we look ahead, we’re excited to continue building on this legacy of excellence and innovation.”
“We are pleased with our third-quarter results, which reflect our commitment to meeting the financing needs of policyholders and agents across the insurance premium finance industry,” said William Koppelmann, CEO of Standard. “Our team’s dedication to customer service and operational efficiency has driven both growth and value, strengthening our market position. We look forward to building on this success and continuing to deliver long-term value to our shareholders.”
Third Quarter 2024 Financial Highlights:
- Revenue: Revenue for the third quarter exceeded
$3,000,000 , a19% increase compared to the third quarter of 2023. Year-to date revenue also increased29% from 2023. - Net Income: Net income was
$300,627 , or$0.07 per diluted share, compared to$116,930 in the third quarter of 2023, an increase of157% . - EBIT: EBIT was
$1,560,488 , reflecting a32% increase from$1,181,531 in the prior-year period. - Loan Portfolio Growth: The loan portfolio grew to
$67,785,348 , an increase of11.6% since the 2023 fiscal year-end. - Average APR. Our weighted-average APR on new loans increased to
18.25% , a 128-basis point increase as compared to the third quarter of 2023. - Preferred Dividends. Dividends of
7% APY on preferred stock were declared and paid in November 2024. - Return on Common Equity. The Company achieved a return on common equity exceeding
20% for the third quarter of 2024.
Operational Highlights:
- Portfolio Growth: Standard Premium Finance Holdings continued to expand its loan portfolio, driven by geographic and market expansion through our network of marketing representatives and insurance agents.
- Client Relationships: The company deepened partnerships with key agents and developed new relationships, supporting its growth strategy.
Year-to-Date Financial Performance
For the nine months ended September 30, 2024, Standard Premium Finance Holdings reported revenue of
Outlook
Koppelmann added, “As we close out 2024, we remain optimistic about our trajectory, given the steady demand for our flexible premium finance solutions. We are focused on leveraging our strong relationships and industry expertise to achieve sustainable growth and reinforce our commitment to operational excellence.”
“Standard is also encouraged by the broader macroeconomic environment. Recent interest rate decreases have created a favorable climate for continued growth in the premium finance market, allowing us to enhance financing accessibility for clients while supporting stronger returns. As these macroeconomic trends persist, Standard expects to capitalize on reduced borrowing costs to further expand our loan portfolio and improve our financial results, driving value for both clients and shareholders. The recent and anticipated rate decreases provide an opportunity to bolster profitability and increase profit margins.”
About Standard Premium Finance Holdings, Inc.
Standard Premium Finance Holdings, Inc. (OTCQX: SPFX) is an industry-specific holding company pursuing merger and acquisition opportunities of synergistic businesses to take advantage of the economies of scale within the specialty finance industry. SPFX companies have provided financing solutions in excess of
Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to, statements regarding our outlook on for the remainder of 2024. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "expect", "will", “opportunity” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward-looking statements give our current expectations and projections relating to our financial condition; macroeconomic factors; plans; objectives; growth opportunities; assumptions; risks; future performance; business; and results of operations, including revenue, and net income. Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Standard undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected. More information about factors that could affect our results of operations and risks and uncertainties are provided in our public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting our investor relations website at www.standardpremiuminvestors.com or the SEC’s website at www.sec.gov.
For more information, please contact Media Relations at info@standardpremium.com
FAQ
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