GreenSky, Inc. (GSKY) Misses Q4 EPS by 1c, Revenues Miss

GreenSky, Inc. (NASDAQ: GSKY) reported Q4 EPS of $0.12, $0.01 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $133.84 million versus the consensus estimate of $135.6 million.

"In 2019, we facilitated approximately $6 billion of transaction volume, nearly $1 billion greater than in 2018, as we continued to expand our ecosystem of quality merchants and providers,” said David Zalik, Chairman and Chief Executive Officer of GreenSky. “Of note, credit performance in the fourth quarter was strong with continuing trends suggesting further improvement in fiscal 2020. This is a reflection of the significant emphasis we have placed on our risk management initiatives as well as our sustained investment in talent and processes. Thirty-day delinquencies reached a three-year, fourth quarter-end low of 1.38%. The markets in which we compete are enormous. We are well positioned to leverage the benefits of these risk management investments to produce improved operating margins as we look to again post double-digit growth in annual originations on our technology platform in fiscal 2020.”

“As previously announced, the Company has reached an agreement in principle for a three-year, $6 billion forward flow arrangement with a leading institutional asset manager, which would complement our current Bank Partner commitments and provide ample funding for the growth in transaction volume we expect in fiscal 2020,” Zalik added.

For earnings history and earnings-related data on GreenSky, Inc. (GSKY) click here.

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