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Nelnet Reports Drop In 4th Quarter Earnings – Lincoln Journal Star

nelnet-reports-drop-in-4th-quarter-earnings-–-lincoln-journal-star
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Nelnet reported fourth-quarter earnings that were down significantly from a year ago, but they still beat the expectations of financial analysts.

The Lincoln-based financial services company said it had net income of $132.7 million, or $3.46 per share, for the fourth quarter of 2021, compared with net income of $235 million, or $6.10 per share, for the same period a year ago.

After making derivative market value adjustments, Nelnet reported earnings of $95.9 million, or $2.50 per share, for the fourth quarter, compared with $240.4 million, or $6.23 per share, for the same period in 2020.

The company’s fourth quarter earnings in 2020 were artificially boosted by a one-time gain of $258.6 million related to the recapitalization of Allo Communications.

For the year, Nelnet’s net income was $393.3 million, or $10.20 per share, compared with net income of $352.4 million, or $9.02 per share, in 2020.

CEO Jeff Noordhoek said in a news release that last year “was a tremendous year” for the company.

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