WaFd, Inc. (NASDAQ: WAFD) surpasses analyst forecasts with actual results for two consecutive quarters, announced after Thursday’s market close. Earnings per share reach $0.83, topping the $0.75 consensus estimate. Revenue climbs to $197.38 million, exceeding projections of $190.51 million.
Earnings Highlights
The company reports net income of $65.50 million for the quarter ended March 31, 2026, with earnings per share at $0.82. This marks a 2% increase from the prior quarter’s $64.20 million and a 17% rise year-over-year from $56.30 million. Net interest margin expands 4% to 2.81% from 2.70% in the previous period.
Net interest income grows from $171 million to $178 million quarter-over-quarter, driven by a 5 basis point rise in asset yields and a 9 basis point drop in funding costs.
CEO Brent Beardall’s Insights
President and CEO Brent Beardall states, “Our strong performance amid uncertain times enables us to deliver essential services to customers effectively.” He adds, “This quarter, we execute deposit growth strategies successfully, boosting non-interest-bearing deposits by 12%.”
Balance Sheet Strength
Total deposits expand to $27.6 billion as of March 31, 2026, up from $26.7 billion at September 30, 2025. The company repurchases 2.7 million shares at an average price of $31.85. Return on tangible equity stands at 10.8%, while return on average assets hits 0.96%.
WaFd maintains its streak by paying the 172nd consecutive quarterly dividend of $0.27 per share.
Improved Credit Quality
Non-performing assets decline sharply to 0.48% of total assets from 0.75% in the prior quarter. Delinquency rates also fall to 0.78% from 1.07%.
Share price remains steady following the earnings release.
