Washington Federal reports Q2 EPS 61c, consensus 59c
Return on equity for Q2 was 10.30% compared to 8.70% for the quarter ended June 30, 2017. Return on assets for Q2 was 1.31% compared to 1.17% for the same quarter in the prior year. President and Chief Executive Officer Brent J. Beardall commented, "The Company's 24% increase in earnings per share is attributable to loan growth, improved net interest margin, fewer shares outstanding and a lower tax rate. It is notable that these results are inclusive of a 17% increase in operating costs, which include previously announced investments in our colleagues, technology and higher regulatory compliance costs. We are pleased that the impact of rising short-term interest rates on our funding costs has been more than offset by the combination of the re-pricing of variable rate assets and loan growth."