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OppFi Stock Surges on Q3 Earnings Beat, Share Buybacks
Shares of financial technology firm OppFi (OPFI) surged 7.1% in pre-market trading Wednesday after the company released third-quarter 2026 financial results that surpassed Wall Street's profit forecasts.
Earnings Beat Drives Rally
OppFi reported diluted earnings per share of $0.40 for the third quarter, comfortably exceeding the analyst consensus of $0.345. The strong bottom-line performance appeared to outweigh a modest miss on the top line, with reported revenue of $149.2 million coming in just below the anticipated $152.8 million.
The company's performance over the first nine months of the year provided further positive context. According to the report:
- Net income attributable to OppFi soared 719.6% year-over-year to $77.7 million.
- Nine-month diluted EPS climbed 214% to $1.14.
Strategic Moves and Shareholder Returns
AdBeyond the headline numbers, OppFi announced the launch of a new Line of Credit product during the quarter, expanding its service offerings. The company also demonstrated confidence through its capital return strategy, repurchasing $6.7 million worth of its stock in Q3.
This is part of a larger buyback program that has seen the company repurchase $17.9 million in shares over the first nine months of 2026, at an average price of $8.91 per Class A share.
Updated Full-Year Outlook
OppFi refined its full-year 2026 guidance, providing investors with a clearer outlook. The company now projects revenue between $600 million and $610 million and adjusted EPS in the range of $1.34 to $1.40. While this represents a narrowing of its previous forecast, the combination of a strong earnings beat, product expansion, and consistent share buybacks reassured investors and fueled Wednesday's rally.
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