NNI 8-K SEC Filing Analysis

Latest settled — T+20d ⚠ clustered

NNI ▲ +5.43% at T+20d

SHORT call ✗ call lost -5.43% · α vs SPY -5.41% · entry $122.38 → $129.03

Next anchor: T+60d in 8w

Last close $127.34 (close Jun 8) · -4.05% from $122.38 entry (call sign-flipped)

Entry anchored
May 7, 2026
via day open

T+1d

+0.11%

call -0.11% · α +0.12%

$122.52

settled 5w ago

T+5d

+2.73%

call -2.73% · α -1.27%

$125.72

settled 27d ago

T+20d

+5.43%

call -5.43% · α -5.41%

$129.03

settled 5d ago

T+60d

—

call — · α —

—

in 8w

Price Chart

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Executive Summary

Nelnet reported Q1 2026 GAAP EPS of $1.97 ($1.94 non-GAAP), missing consensus of $2.66 by 27%, and revenue of $419M missed $444M. Net income fell 14% YoY to $71.1M, pressured by a $53.2M provision for loan losses (up from $15.3M) and investment losses. No guidance was provided.

Actionable Insight

The significant EPS and revenue miss, driven by a sharp rise in loan loss provisions, will likely pressure the stock. Monitor future quarters for credit quality trends and whether the provision spike normalizes as the acquired portfolio seasons.

Key Facts

Non-GAAP EPS $1.94 vs consensus $2.66 (miss of 27%)
Revenue $419M vs consensus $444M (miss of 5.6%)
GAAP EPS $1.97 vs $2.26 a year ago
Provision for loan losses surged to $53.2M from $15.3M
AGM acquired $3.34B of loans in Q1, driving provision growth
Net interest income rose to $101.6M from $82.7M YoY
Dividend maintained at $0.33 per share

Financial Impact

EPS miss of 27% and revenue miss of 5.6%; provision increase of $37.9M YoY

epsrevenuenet incomeprovision for loan losses

Risk Factors

Further deterioration in consumer credit could increase provisions
FFELP portfolio runoff continues, pressuring net interest income
Investment losses from marketable securities and solar partnerships may recur

Market Snapshot

Exchange

NYSE

Sector

Personal Credit Institutions

Analyst Consensus

0% bullish (8 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001258602-26-000032
Document: nni-20260507.htm	0001258602-26-000032
Document: 0001258602-26-000032-index-headers.html	0001258602-26-000032
Document: 0001258602-26-000032-index.html	0001258602-26-000032
Document: 0001258602-26-000032.txt	0001258602-26-000032
8-K Data (Synthetic)	0001258602-26-000032

2 reports for NNI

T+1T+5T+20T+60

Filters

Reports for NNI — sortable, filterable
	Type				Now
May 7, 2026 4w ago	8-K BEARISH ★ 7/10	$122.38 $129.03	▼ −5.43%	▼ −5.41%	$127.34 (−4.05%)
Apr 1, 2026 10w ago	GOVT-CONTRACT NEUTRAL ★ 5/10	$128.15 $142.48	▲ +11.18%	▲ +1.46%	$127.34 (−0.63%)

US Market Status

Market Closed — Opens in 6h 56m

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