ECN Capital Corp. reported its financial results for the third quarter. For the three-month period ending Sept. 30, ECN Capital reported adjusted net income applicable to common shareholders of $18.2 million versus $16.6 million for the second quarter and $17.0 million for the third quarter last year.

“We are excited to print a solid, clean quarter with Adjusted EPS of $0.08, which is at the high end of our guidance range of $0.07-$0.08,” said Steven Hudson, CEO of ECN Capital Corp.  “We continue to see great opportunity in each of our three operating businesses in the coming quarters.”

Highlights

• Originations for the quarter were $639.1 million versus $598.0 million in the second quarter and $508.9 million for the third quarter last year.
• Total earning assets managed and advised at Sept. 30 were $32.6 billion, versus $32.2 billion in the previous three-month period and $28.8 billion for the same period last year.
• Adjusted EBITDA for the three-month period ending Sept. 30 was $34.0 million versus $33.2 million for the previous three-month period and $38.0 million for the same period last year.
• Operating expenses for the three-month period ending Sept 30, were $29.3 million versus $28.8 million reported for the previous three-month period and $31.6 million for the same period last year.
• Net Income (loss) attributable to common shareholders for the three-month period ending Sept. 30, was $2.4 million versus $7.5 million for the previous three-month period and ($59.9) million for the same period last year.