Pathward Financial, Inc. (CASH) Earnings
Pathward Financial, Inc. is expected to report next earnings on July 27, 2026 (in NaN days), with a consensus EPS estimate of $1.92. CASH has beaten EPS estimates in 9 of its last 11 reported quarters (average surprise +9.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $3.35 | $3.35 | +0.0% | $276M | +1.6% |
| Jan 22, 2026 | $1.38 | $1.57 | +13.8% | $175M | -36.0% |
| Oct 21, 2025 | $1.39 | $1.69 | +21.6% | $155M | -20.3% |
| Sep 16, 2025 | — | $1.82 | — | $158M | — |
| Jan 21, 2025 | $1.24 | $1.29 | +4.0% | $136M | -46.7% |
| Oct 23, 2024 | $1.28 | $1.35 | +5.5% | $138M | -17.6% |
| Jul 24, 2024 | $1.55 | $1.66 | +7.1% | $155M | -12.1% |
| Jan 24, 2024 | $1.24 | $1.06 | -14.5% | $134M | -19.6% |
| Oct 25, 2023 | $1.25 | $1.36 | +8.8% | $136M | -12.5% |
| Jul 26, 2023 | $1.47 | $1.68 | +14.3% | $139M | -16.4% |
| Jan 25, 2023 | $0.80 | $0.98 | +22.5% | $118M | -13.7% |
| Oct 27, 2022 | $0.72 | $0.81 | +12.5% | $108M | -11.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · April 22, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- CEO Brett Farr mentioned progress on goals, tax season going well, new and existing partnerships developing, core businesses healthy. Reported net income of $72.9 million and earnings per diluted share of $3.35. Tax services had 13% revenue growth, pre-tax income up 30%. - CFO Greg Sigris talked about revenue, growth in partner solutions, impact of consumer finance portfolio sale on net interest income, non-interest income growth in tax products and core card/deposit fees, non-interest expense improvement, deposits and loans/leases trends, net interest margin, credit metrics, and stock repurchases. - Key focus areas in fiscal 2026: asset rotation for higher return on assets, investment in technology, people and culture with Great Place to Work certification, consultative governance for risk and compliance, and focus on client experience. Extended partnership with TabaPay for three years.
Guidance
- Maintained guidance range of $8.55 to $9.05 earnings per diluted share. - Expected secondary market revenues to make up for timing impact from government shutdown in subsequent quarters. - Adjusted net interest margin expected to be stable to slightly trending up due to factors like balance sheet velocity, securities portfolio repricing, and fixed rate loans repricing.
Segment performance
Tax-related products led revenue growth for the quarter. Non-interest income grew 9% and represented 55% of total revenue. Net interest income from commercial finance loans increased. Core card and deposit fee income grew 22%. Deposits held were relatively flat. Loans and leases grew 9%. Net interest margin was 6.63%, adjusted net interest margin was 5.32%. Non-performing loans saw a modest increase, allowance for credit loss ratio on commercial finance increased. Tax services revenue increased 13% for six months ending March 31, 2026, with refund transfer and advance products driving growth. Return on average assets was 2.75% and return on average tangible equity was 40.69%.
Risks & headwinds
- Uncertainty regarding proposed executive order on banks obtaining citizenship info, including unknown rules and potential costs. - Credit environment has one-off stories in various asset classes, though overall still relatively stable. - Competition in the banking as a service space, with potential new competitors from partners getting charters, though current pipelines not impacted yet. - Risk of changing pricing dynamics in contract negotiations, though disciplined approach to risk-adjusted returns is in place.
Analyst Q&A
Q: Comment on buyback repeatability and other priorities outside organic growth and M&A.
A: Buyback has seasonality, second quarter is typically highest. Share buybacks are highest and best use of capital currently, and no M&A seen as making sense.
Q: Track on card fees from new programs.
A: Card fee income growing, new deals take time to come through, but fully loaded basis guide still applies with measurable increase into next year.
Q: Risk of proposed executive order on citizenship info for bank accounts.
A: Already have processes for CIP, exception for unregistered prepaid cards, but until rules known, implications unknown.
Q: Credit NPA increase and underlying credits.
A: NPA increase due to one-off stories in asset classes, workouts can be short or long, non-accrual balances came down, NPL ratio up due to greater than 90 days past due and still accruing bucket.
Q: Provision increase cause.
A: Mix of specific reserving and CECL process, benign credit environment overall.
Q: Contract extension economics.
A: Every contract different, trade offs exist, no general margin south trend as pricing discipline in place.
Q: Partner pipeline color.
A: Pipeline robust due to breadth of product approach with partners, multi-threaded products with existing partners and new partners new products.
Q: Loan growth going forward.
A: Variance in quarter due to timing issues, pipelines still full, modest continued uptick expected.
Q: NIM direction.
A: Adjusted NIM stable to slightly trending up, influenced by balance sheet velocity, securities portfolio repricing, fixed rate loans repricing.
Q: Tax season learnings.
A: Focus on customer service with EROs to gain market share, retain more EROs in future years.
Q: Competition in banking as a service space.
A: Not seeing impact from partners getting charters yet, but potential competitors in few years.
Q: Stablecoin or digital asset partnerships.
A: Watching partners and participating in dialogue, not announcing specific partnerships.
Q: Cross-selling and new partners success.
A: Both new partners and existing partners key, existing partners typically faster to revenue due to third party risk management, revenue growth from existing partners in next 18 months likely.
Q: Time to onboard new partner change.
A: Varies by product, focus on speed to market with process improvement and technology investment.
Q: Building vs using technology.
A: Unique requirements of business lead to building own technology, AI used to speed up development.
Q: Biggest risk to BAS industry.
A: Insufficient scale for big banks to target lower-end consumers, but need to adapt to changing competition.