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Element Finanical Reports $5.1B in YTD Originations Volume

November 11, 2015, 07:11 AM
Filed Under: Corporate Earnings

Element Financial Corporation reported financial results for the three-month and nine-month periods ending September 30, 2015.

Overall, new originations amounted to $1.9 billion for the three-month period ended September 30, 2015 representing a 60.9 percent increase over the $1.2 billion reported for the same period last year. Fleet Management accounted for $867.9 million of Q3 originations, while the Rail Finance vertical contributed $358.4 million. Aviation Finance accounted for $83.7 million of Q3 originations, while the Commercial & Vendor vertical accounted for $579.9 million. Year-to-date origination volumes amount to $5.1 billion, which is slightly ahead of plan with respect to the Company’s previous full-year guidance of $6.5 billion of new originations during 2015 and represents an increase of 68.7 percent over the same period last year.

Selected Highlhights:

  • U.S. portion of GE Fleet transaction closed August 31st creating a North American leader in fleet management
  • Australia, New Zealand and Mexico portions of GE Fleet transaction closed on September 30th
  • After tax adjusted operating income per share of $0.26 (basic) versus consensus of $0.25
  • Originations increased to $1.9 billion in Q3-2015 up 61% from $1.2 billion in the same period last year
  • Average earning assets increased to $13.0 in Q3-2015 up 65% from $7.9 billion in the same period last year
  • U.S. market accounted for 73% of Q3 period end [earning assets] versus 63% for the same period end last year
  • Pre-tax adjusted return on average common equity at 12.3% pro forma in Q3-2015 versus 9.7% for the same period last year
  • Tangible leverage increased to 4.53:1 from 3.07:1 at the end of previous period

Read the full Element Financial Press Release.








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