NELNET INC — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Nelnet reported Q2 2026 GAAP net income of $66.7M ($1.85/share), down from $181.5M ($4.97/share) in Q2 2025, but the prior-year period included a one-time $175M gain from partial ALLO investment redemption. Excluding that gain and derivative adjustments, Q2 2026 adjusted EPS was $1.77 vs. $5.05 in Q2 2025—a 65% decline. Key drivers: consumer loan portfolio grew to $1.21B (from $411.5M YoY) via $3.07B acquisitions in Q2; Department of Education servicing revenue declined; Canada servicing acquisition contributed first full quarter; provision for loan losses jumped to $41.3M from $11.1M due to CECL methodology on new acquisitions.
Why this rating
Significant earnings decline on operational basis (excluding one-time items), but attributable to strategic consumer loan expansion and non-recurring provision charges rather than core deterioration. Moderate relative to $2B market cap.
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