Recent Earnings

ECN Capital to Shed $1.7B in U.S. Assets after Sale to PNC

ECN Capital said assets under management at YE/16 of $7.9 million will be reduced to $6.2 million after the sale of the U.S. commercial and vendor finance business to PNC Financial Services. read more

FDIC: Bank FY Earnings Rise Despite 29% Increase in Loan Losses

The FDIC reported full-year 2016 earnings rose to $171.3 billion, up 4.9% compared to 2015. The regulator noted that loan loss provisions totaled $47.8 billion in 2016, an increase of 28.8% from 2015. read more

Air Lease Reports Record Results for 2016

Air Lease said revenues of $1.4 billion and earnings of $374.9 million were up 16% and 48%, respectively for the full year 2016. read more

HPE Financial Services Fiscal Q1/17 Results Mixed

Hewlett Packard Enterprise reported its HPE Financial Services business revenue was $823 million, up 6% year/year. Net portfolio assets were up 2% and financing volume was down 10%. read more

Deere Q1 Earnings Down on ‘Soft Conditions’ in Farm & C/E Sectors

Deere & Company reported Q1/17 net income was $193.8 million versus $254.4 million for the same period one year-ago. The company nots results were pressured by soft conditions in the farm and construction equipment sectors. read more

Rush Enterprises 2016 Class 8 Sales Down 35.9%

In 2016, Rush Class 8 retail sales accounted for 5.5% of the total U.S. Class 8 market, compared to 6.7% in 2015. The company sold 10,816 Class 8 trucks in 2016, a decrease of 35.9% compared to 2015. read more

CG Commercial Finance Reports $80MM in Q4/16 Originations

CG Commercial Finance reported nearly $80 million in Q4/16 originations, with $35 million of those held on the company’s balance sheet. read more

OnDeck Reports Higher FY Net Loss as Provision Charges Double

OnDeck reported a net loss of $83.0 million for full-year 2016, up from a net loss of $1.3 million a year earlier. The company noted its provision for loan loss charges doubled from $74.9 million 2015 to $150 million in 2016. read more

NewStar FY/16 Earnings Up on Sale of ABL, Equipment Finance Assets

NewStar reported 2016 net income of $28.2 million was up from $16.9 million a year earlier aided by $29.2 million in gains on the sale of its asset-based lending and equipment finance businesses. read more

Aircastle Reports FY Earnings Up on Lower Impairment Charges

Aircraft lessor Aircastle reported full year 2016 adjusted net income was $168.5 million, an increase of $26.3 million. The improvement was primarily driven by a $91.3 million reduction in non-cash aircraft impairment charges. read more

Madison Capital Records 50% Originations Growth in 2016

Madison Capital recorded its best growth year ever in 2016. Originations during the year increased by 50% over the prior year and assets under management grew by 24%. read more

LEAF Delivers 23% Originations Increase in 2016

LEAF Commercial Capital reported strong year-over-year results for 2016 which included a 23% increase in originations and a 17% increase in assets under management. read more

Hitachi Capital America Achieves 65% Funded Volume Growth in 2016

Hitachi Capital America reported $3.8 billion in funded volume in 2016, an increase of 65% from 2015. In addition, the company recorded $2.8 billion in total assets, up 44% from 2015. read more

Fleet Financing Resources Reports Record Year/Year Volume Growth

Fleet Financing Resources announced full year total funded volume in 2016 was a record $75 million, up 32% compared to 2015. read more

Snap-on Financial Portfolio Size Increases to $1.4 Billion

In its Q4/16 earnings release, Snap-on noted that its Financial Services related assets at year-end 2016 were $1,407 million, up 15.3% from $1,220 million a year earlier. read more

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Terry Mulreany
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