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Cass Information Systems, Inc. Reports 20% Increase in Third Quarter Diluted EPS
Boosts Dividend by 4%; Augments Share Repurchase Program ST. LOUIS--(BUSINESS WIRE)-- Cass Information Systems, Inc. (Nasdaq: CASS), the leading provider of
About this update from Cass Information Systems, Inc
[{"type":"text","content":"\nBoosts Dividend by 4%; Augments Share Repurchase Program\n\n ST. LOUIS--(BUSINESS WIRE)--\nCass Information Systems, Inc. (Nasdaq: CASS), the leading provider of transportation, energy, telecom and waste invoice payment and information services, reported third quarter 2021 earnings of $.48 per diluted share, an increase of 20% from the $.40 per diluted share it earned in the third quarter of 2020. Net income for the period was $6.8 million, an increase of 18% from the $5.8 million earned in the same period in 2020.\n\n\n\n \n\n\n\n3rd Quarter\n\n\n\n \n\n\n\nYTD\n\n\n\n \n\n\n\n\n\n \n\n\n\n2021\n\n\n\n2020\n\n\n\n%\nChange\n\n\n\n2021\n\n\n\n2020\n\n\n\n%\nChange\n\n\n\n\n\nTransportation Invoice Volume\n\n\n\n9.3 million\n\n\n\n8.7 million\n\n\n\n7.8\n\n\n\n27.6 million\n\n\n\n24.2 million\n\n\n\n13.8\n\n\n\n\n\nTransportation Dollar Volume\n\n\n\n$9.5 billion\n\n\n\n$6.8 billion\n\n\n\n39.8\n\n\n\n$26.4 billion\n\n\n\n$19.0 billion\n\n\n\n39.0\n\n\n\n\n\nFacility-related Transaction Volume*\n\n\n\n6.7 million\n\n\n\n7.1 million\n\n\n\n(6.2)\n\n\n\n20.5 million\n\n\n\n20.3 million\n\n\n\n0.8\n\n\n\n\n\nFacility-related Dollar Volume*\n\n\n\n$4.2 billion\n\n\n\n$3.6 billion\n\n\n\n17.2\n\n\n\n$11.6 billion\n\n\n\n$10.1 billion\n\n\n\n14.5\n\n\n\n\n\nRevenues\n\n\n\n$38.7 million\n\n\n\n$35.7 million\n\n\n\n8.2\n\n\n\n$114.2 million\n\n\n\n$107.8 million\n\n\n\n5.9\n\n\n\n\n\nNet Income\n\n\n\n$6.8 million\n\n\n\n$5.8 million\n\n\n\n17.7\n\n\n\n$20.9 million\n\n\n\n$18.8 million\n\n\n\n11.4\n\n\n\n\n\nDiluted Earnings per Share\n\n\n\n$.48\n\n\n\n$.40\n\n\n\n20.0\n\n\n\n$1.45\n\n\n\n$1.29\n\n\n\n12.4\n\n\n\n\n*Includes Energy, Telecom and Waste\n\n2021 3rd Quarter Recap\n\nThird quarter revenue and net income increased 8% and 18%, respectively, compared to the third quarter of 2020 when the negative economic impact of the pandemic was more significantly impacting Cass and its customers.\n\nTransportation volumes for invoices and dollars rose 8% and 40%, respectively. The increases were driven by the stronger performance of the manufacturing sector in addition to organic new customer growth. Also contributing to the dramatic increase in dollar volume was scarcity in carrier supply, which continues to drive prices higher.\n\nFacility-related (electricity, gas, waste and telecom expense management) dollar volumes grew 17% primari...