Business
Nelnet Reports First Quarter 2025 Results
Nelnet (NYSE: NNI) today reported GAAP net income of $82.6 million, or $2.26 per share, for the first quarter of 2025, compared with GAAP net income of $73.4 million, or $1.98 per share, for the same period a year ago.
About this update from Nelnet, Inc.
[{"type":"text","content":"LINCOLN, Neb., May 8, 2025 /PRNewswire/ -- Nelnet (NYSE: NNI) today reported GAAP net income of $82.6 million, or $2.26 per share, for the first quarter of 2025, compared with GAAP net income of $73.4 million, or $1.98 per share, for the same period a year ago.","length":266,"tagName":"p"},{"type":"text","content":"Net income, excluding derivative market value adjustments1, was $87.4 million, or $2.39 per share, for the first quarter of 2025, compared with $67.4 million, or $1.81 per share, for the same period in 2024.","length":207,"tagName":"p"},{"type":"text","content":""We're pleased with Nelnet's strong operating results to kick off 2025," said Jeff Noordhoek, chief executive officer of Nelnet. "In a challenging and uncertain economic environment, all our core businesses are performing well and contributing to this momentum. We enhanced our already strong capital and liquidity positions, allowing us to be ready to strategically invest in opportunities that we believe will drive long-term success and value creation."","length":489,"tagName":"p"},{"type":"text","content":"Nelnet has four reportable operating segments, earning interest income on loans in its Asset Generation and Management (AGM) and Nelnet Bank segments, both part of the company's Nelnet Financial Services (NFS) division, and fee-based revenue in its Loan Servicing and Systems (referred to as Nelnet Diversified Services (NDS)) and Education Technology Services and Payments (referred to as Nelnet Business Services (NBS)) segments. Other business activities and operating segments that are not reportable and not part of the NFS division are combined and included in Corporate Activities.","length":592,"tagName":"p"},{"type":"text","content":"Asset Generation and Management","length":31,"tagName":"p"},{"type":"text","content":"The AGM operating segment reported loan and investment net interest income of $52.9 million during the first quarter of 2025, compared with $40.6 million for the same period a year ago. The increase in 2025 was due to an increase in loan spread2, but was partially offset by the expected runoff of the Federal Family Education Loan Program (FFELP) loan portfolio. The average balance of loans outstanding decreased from $11.6 billion for the first quarter of 2024 to $9.5 billion for the same period in 202...