Pathward Guides FY2027 EPS to $9.50-$10.00 as Nonperforming Assets Jump to 4.00% of Assets
CASH is trading near its 52-week low of $65.87 (13% above the low) on elevated volume (2.0× avg).
Summary
Pathward reported Q4 EPS of $1.85 and FY2026 EPS of $8.14, then guided FY2027 to $9.50-$10.00. Nonperforming assets rose to 4.00% of total assets on renewable energy construction loans tied to one developer.
Key Events · Earnings and Guidance · CASH
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FY2027 Guidance Set at $9.50-$10.00 EPS
Guidance assumes no further rate changes, an 18-22% effective tax rate, secondary market revenue of $5-7 million per quarter, and includes expected share repurchases. The midpoint of $9.75 is about 20% above FY2026 EPS of $8.14.
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Q4 EPS $1.85, Full Year $8.14
Q4 net income of $38.6 million, or $1.85 per diluted share, versus $38.8 million and $1.69 a year earlier. Full-year net income fell to $175.7 million from $185.9 million, but EPS rose to $8.14 from $7.87 on a smaller share count.
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Nonperforming Assets Jump to 4.00% of Assets
Nonperforming assets reached $290.4 million, or 4.00% of total assets, versus $101.7 million and 1.42% a year earlier. The increase is tied to commercial finance loans more than 89 days past due and accruing, related to renewable energy construction projects with a common developer.
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Q4 Charge-Offs and Provision Rise
Net charge-offs were $52.0 million (4.01% annualized) versus $46.2 million a year earlier, and the provision for credit losses was $10.3 million versus a $6.4 million reversal. The allowance fell to $67.3 million, or 1.33% of loans, from $109.8 million at June 30.
Analysis · CASH · Finance
Pathward closed fiscal 2026 with Q4 EPS of $1.85 (up from $1.69) and full-year EPS of $8.14 (up from $7.87), and it set FY2027 guidance of $9.50-$10.00 — roughly 17-23% above the just-reported year. The offset is credit: nonperforming assets climbed to $290.4 million, or 4.00% of total assets, from 1.42% a year ago, driven by renewable energy construction projects with a common developer. Q4 net charge-offs were $52.0 million (4.01% annualized) and the provision swung to $10.3 million from a $6.4 million reversal a year earlier. Management says it is working with other parties to complete those projects, so the resolution of that single developer exposure is what determines whether the guidance holds.
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At the time of this filing, CASH was trading at $74.20 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $65.87 to $101.26. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.