Categories Analysis, Earnings, Finance

Earnings preview: What to expect from LendingClub Q4 earnings?

Online lender LendingClub Corporation (LC) is slated to report its fourth quarter and full-year 2018 earnings results on Tuesday, February 19, after market hours. On average, analysts expect LendingClub to earn 2 cents per share on revenue of $181.9 million for the recently concluded quarter. These estimates represent a 100% jump in earnings and a 16% increase in revenue compared to the fourth quarter of 2017. Shares of LendingClub ended Friday’s regular trading session at $3.56, up 1.14%.

For the third quarter ended September 30, 2018, the online lending platform which connects borrowers and investors, reported earnings of 3 cents per share on revenue of $184.6 million representing a flat earnings and 20% revenue growth from the third quarter of 2017. Loan originations improved 18% year-over-year to $2.9 billion. On a GAAP basis, loss widened to 5 cents per share from 2 cents per share in the prior-year quarter.

Related: LendingClub Q3 2018 earnings conference call transcript

For 2018, the San Francisco-based fintech firm had guided revenue to be in the range of $688 million to $698 million and GAAP loss to be in the range of $129 million to $124 million.

Investors will be looking at how the company had handled and settled several key matters arising from outstanding legacy issues disclosed by the company in May 2016, including investigations by the Department of Justice and the Securities and Exchange Commission as well as class action and individual lawsuits. LendingClub announced that it had continued constructive engagement with the Federal Trade Commission regarding ongoing litigation.

LendingClub’s peer OnDeck Capital (ONDK) reported its quarterly results on February 12. OnDeck’s earnings beat estimates aided by the growth in the loan originations, sending shares in the upward direction.

LC stock had lost 9% in the past 52-weeks and gained 36% since the beginning of 2019. The stock has a 52-week low of $2.46 and a 52-week high of $4.55.

 

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