Cass Information Sys Q2 EPS $0.32 Misses $0.53 Estimate, Sales $48.59M Miss $49.99M Estimate

7/18/24 8:39:29 AM ET

Business Services

Consumer Discretionary

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Cass Information Sys (NASDAQ:CASS) reported quarterly earnings of $0.32 per share which missed the analyst consensus estimate of $0.53 by 39.62 percent. This is a 38.46 percent decrease over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $48.59 million which missed the analyst consensus estimate of $49.99 million by 2.80 percent. This is a 0.79 percent increase over sales of $48.21 million the same period last year.

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Recent Analyst Ratings for
$CASS

Date	Price Target	Rating	Analyst
2/12/2024	$45.00 → $51.00	Neutral → Overweight	Piper Sandler
12/6/2022		Neutral	Piper Sandler

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Cass Information Systems Forms Strategic Partnership with Brazilian Firm Lupeon to Drive Global Growth
Partnership demonstrates continued commitment to deliver best practices and global visibility to multinational clients Cass Information Systems, Inc. (NASDAQ:CASS) ("Cass"), the leading global provider of freight audit and payment solutions, has announced a partnership with Lupeon, Brazil's leading freight audit provider, to deliver an in-region solution for Cass's global client base. U.S.-based Cass provides a global solution covering all other regions of South America. In Brazil, unique regulatory requirements for freight charges necessitate a highly distinct process. An invoice can include federal, regional, and city taxes, as well as tolls and insurance. Additionally, to combat frau
11/14/24 9:30:00 AM ET
$CASS
Business Services
Consumer Discretionary
Cass Information Systems Reports Third Quarter 2024 Results
Third Quarter Results (All comparisons refer to the third quarter of 2023, except as noted) Net income of $2.9 million, or $0.21 per diluted common share (includes $6.6 million of bad debt expense on a funding receivable related to a facility client). Increase in net interest margin to 3.55%. Increase in facility expense transaction volumes of 26.3%. Increased quarterly dividend to $0.31 per share. Repurchased 64,471 shares of Company stock. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported third quarter 2024 earnings of $0.21 per diluted share, as compared to $0.54 in the third quarter of 2023 and $0.32 in the second quarter of 2024. Net income for th
10/17/24 8:30:00 AM ET
$CASS
Business Services
Consumer Discretionary
Cass Information Systems Receives GSA Multiple Award Schedule Contract for Freight Audit and Payment
The world's leading commercial solution is now approved for use by U.S. Government agencies Cass Information Systems, Inc. (NASDAQ:CASS) (Cass), a leading provider of global payment solutions, has received a Multiple Award Schedule contract with the General Services Administration (GSA). This pre-approved contract enables government and federal agencies to efficiently award business to Cass for freight audit and payment services for all transportation modes. Cass, a provider of payment solutions for diverse spend categories, processed $90B in payables in 2023, including $38B in transportation payables. Mark Campbell, president of the Cass Government Payables group, noted, "Agencies who a
10/2/24 8:30:00 AM ET
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Cass Information Systems Reports Third Quarter 2024 Results
Third Quarter Results (All comparisons refer to the third quarter of 2023, except as noted) Net income of $2.9 million, or $0.21 per diluted common share (includes $6.6 million of bad debt expense on a funding receivable related to a facility client). Increase in net interest margin to 3.55%. Increase in facility expense transaction volumes of 26.3%. Increased quarterly dividend to $0.31 per share. Repurchased 64,471 shares of Company stock. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported third quarter 2024 earnings of $0.21 per diluted share, as compared to $0.54 in the third quarter of 2023 and $0.32 in the second quarter of 2024. Net income for th
10/17/24 8:30:00 AM ET
$CASS
Business Services
Consumer Discretionary
Cass Information Systems reports Second Quarter 2024 Results
Second Quarter Results (All comparisons refer to the second quarter of 2023, except as noted) Net income of $4.5 million, or $0.32 per diluted common share. Return on average equity and assets of 8.01% and 0.78%, respectively. Increase in facility expense transaction volumes of 25.1%. Processing fee growth of 8.9%. Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported second quarter 2024 earnings of $0.32 per diluted share, as compared to $0.52 in the second quarter of 2023 and $0.52 in the first quarter of 2024. Net income for the period was $4.5 million, as compar
7/18/24 8:30:00 AM ET
$CASS
Business Services
Consumer Discretionary
Cass Information Systems Reports First Quarter 2024 Results
First Quarter Results (All comparisons refer to the first quarter of 2023, except as noted) Net income of $7.2 million, or $0.52 per diluted common share. Return on average equity and assets of 12.66% and 1.20%, respectively. Increase in facility expense transaction volumes of 23.0%. Processing fee growth of 8.9%. Limited operating expense growth to 0.7% despite facility expense transaction volume increase. Maintained exceptional credit quality, with no non-performing loans or charge-offs. Cass Information Systems, Inc. (NASDAQ:CASS), (the Company or Cass) reported first quarter 2024 earnings of $0.52 per diluted share, as compared to $0.51 in the first quarter of 2023
4/18/24 8:30:00 AM ET
$CASS
Business Services
Consumer Discretionary

Cass Information Sys Q2 EPS $0.32 Misses $0.53 Estimate, Sales $48.59M Miss $49.99M Estimate

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Piper Sandler Reiterates Overweight on Cass Information Sys, Lowers Price Target to $44

Cass Information Systems shares are trading lower after the company reported worse-than-expected Q2 financial results.