The significant EPS and revenue miss, driven by a sharp rise in loan loss provisions, will likely pressure the stock. Monitor future quarters for credit quality trends and whether the provision spike normalizes as the acquired portfolio seasons.
Price Chart
Executive Summary
Nelnet reported Q1 2026 GAAP EPS of $1.97 ($1.94 non-GAAP), missing consensus of $2.66 by 27%, and revenue of $419M missed $444M. Net income fell 14% YoY to $71.1M, pressured by a $53.2M provision for loan losses (up from $15.3M) and investment losses. No guidance was provided.
Key Financial Metrics
Key Facts
- Non-GAAP EPS $1.94 vs consensus $2.66 (miss of 27%)
- Revenue $419M vs consensus $444M (miss of 5.6%)
- GAAP EPS $1.97 vs $2.26 a year ago
- Provision for loan losses surged to $53.2M from $15.3M
- AGM acquired $3.34B of loans in Q1, driving provision growth
- Net interest income rose to $101.6M from $82.7M YoY
- Dividend maintained at $0.33 per share
Financial Impact
EPS miss of 27% and revenue miss of 5.6%; provision increase of $37.9M YoY
Risk Factors
- Further deterioration in consumer credit could increase provisions
- FFELP portfolio runoff continues, pressuring net interest income
- Investment losses from marketable securities and solar partnerships may recur
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001258602-26-000032 |
| Document: nni-20260507.htm | 0001258602-26-000032 |
| Document: 0001258602-26-000032-index-headers.html | 0001258602-26-000032 |
| Document: 0001258602-26-000032-index.html | 0001258602-26-000032 |
| Document: 0001258602-26-000032.txt | 0001258602-26-000032 |
| 8-K Data (Synthetic) | 0001258602-26-000032 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | Press Release | $124.32 $126.93 | ▲ +2.10% | ▲ +2.24% | $122.91 (−1.13%) |
Aug 6, 2026 11w ago | Press Release | $131.46 $127.79 | ▲ +2.79% | ▲ +3.19% | $122.91 (+6.50%) |
Jul 30, 2026 12w ago | 8-K | $135.69 $134.85 | ▼ −0.62% | ▼ −4.24% | $122.91 (−9.42%) |
Jul 17, 2026 14w ago | Press Release | $134.28 | awaiting T+5 | — | $122.91 (−8.47%) |
May 7, 2026 24w ago | 8-K | $122.38 $125.72 | ▼ −2.73% | ▼ −1.27% | $122.91 (−0.43%) |
Apr 22, 2026 26w ago | Court Ruling | $141.10 $141.70 | ▲ +0.43% | ▼ −1.02% | $122.91 (−12.89%) |
Apr 1, 2026 29w ago | GOVT-CONTRACT | $129.45 $132.29 | ▲ +2.19% | ▼ −1.41% | $122.91 (−5.05%) |
US Market Status
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