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LONDON, UK / ACCESSWIRE / May 9, 2018 / If you want access to our free earnings report on Santander Consumer USA Holdings Inc. (NYSE: SC) ("Santander Consumer"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SC. The Company posted its financial results on April 24, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). Santander Consumer's net income per diluted share increased on a y-o-y basis, which beat market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
During Q1 FY18, Santander Consumer's total finance and other interest income came in relatively flat at $1.63 billion compared to Q1 FY17. The Company's total finance and other interest income numbers for the reported quarter beat market consensus estimates of $1.61 billion.
The Company's interest on finance receivables and loans fell to $1.11 billion in Q1 FY18 from $1.21 billion in the prior year's same quarter, primarily due to a decline of 4.9% in the average outstanding balance of the portfolio. Meanwhile, the Company's leased vehicle income increased to $504.28 million in Q1 FY18 compared to $418.23 million in Q1 FY17. The Company's other finance and interest income also improved to $7.14 million in Q1 FY18 from $3.83 million in Q1 FY17.
The Dallas, Texas-based Company reported a net income of $242.30 million, or $0.67 per diluted share, in Q1 FY18 compared to $143.43 million, or $0.40 per diluted share, in Q1 FY17. Furthermore, the Company's net income for the reported quarter topped Wall Street's expectations of $0.40 per diluted share.
During the reported quarter, the consumer finance Company's return on average assets came in at 2.4% versus 1.5% in Q1 FY17. The return on average equity was 14.7% in Q1 FY18 versus 10.8% in the year-ago comparable period. Additionally, the Company's net interest margin was 10.3% in the reported quarter compared to 11.2% in Q1 FY17.
As of March 31, 2018, the Company's common equity Tier 1 capital ratio was 16.9% compared to 13.8% as on March 31, 2017. The Company's yield on earning assets was 12.7% in Q1 FY18 compared to 13.5% in the year-ago corresponding quarter. Furthermore, the Company's cost of debt was 3.1% in Q1 FY18 compared to 2.9% in Q1 FY17.
Dividend and Share Repurchase
In its earnings press release, Santander Consumer's Board of Directors declared a quarterly cash dividend of $0.05 per share. The dividend is payable on May 14, 2018, to shareholders of record as on May 04, 2018.
Stock Performance Snapshot
May 8, 2018 - At Tuesday's closing bell, Santander Consumer USA's stock advanced 2.02%, ending the trading session at $19.16.
Volume traded for the day: 1.51 million shares.
Stock performance in the last month – up 21.34%; previous three-month period – up 15.14%; past twelve-month period – up 52.43%; and year-to-date – up 2.90%
After yesterday's close, Santander Consumer USA's market cap was at $6.98 billion.
Price to Earnings (P/E) ratio was at 10.89.
The stock has a dividend yield of 1.04%.
The stock is part of the Financial sector, categorized under the Mortgage Investment industry. This sector was up 0.2% at the end of the session.
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