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LendingClub (LC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended March 2024, LendingClub (LC) reported revenue of $180.69 million, down 26.5% over the same period last year. EPS came in at $0.11, compared to $0.13 in the year-ago quarter.

The reported revenue represents a surprise of +3.54% over the Zacks Consensus Estimate of $174.52 million. With the consensus EPS estimate being $0.03, the EPS surprise was +266.67%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how LendingClub performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Interest Margin: 5.8% versus 6% estimated by three analysts on average.

  • Average Balance - Total interest-earning assets: $8.55 billion versus the three-analyst average estimate of $8.42 billion.

  • Net Charge-off Ratio: 6.9% compared to the 7.3% average estimate based on three analysts.

  • Efficiency Ratio: 73.2% versus the three-analyst average estimate of 77.2%.

  • Common equity tier 1 capital Ratio: 17.6% versus the two-analyst average estimate of 17.2%.

  • Non-Interest Income- Other non-interest income: $1.91 million versus $2.56 million estimated by five analysts on average.

  • Net Interest Income: $122.89 million versus $126.18 million estimated by five analysts on average.

  • Non-Interest Income- Marketplace revenue: $55.89 million compared to the $45.31 million average estimate based on five analysts.

  • Total Non-interest income: $57.80 million versus $47.87 million estimated by five analysts on average.

  • Total Interest Income: $207.35 million compared to the $206.65 million average estimate based on four analysts.

  • Non-Interest Income- Gain on sales of loans: $10.91 million compared to the $12.20 million average estimate based on two analysts.

  • Non-Interest Income- Origination fees: $70.08 million versus the two-analyst average estimate of $70.75 million.

View all Key Company Metrics for LendingClub here>>>

Shares of LendingClub have returned -10.9% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research