Element Financial Corporation reported financial results for the three-month period ending March 31, 2015. Free operating cash flow amounted to $78.4 million for the three-month period. After tax adjusted operating income amounted to $60.4 million for the three-month period.

“These results are tracking in line with our business plan and the guidance that we have provided to investors that indicate we expect to generate $1.05 of operating EPS during the year and exit 2015 with earning assets of $15.1 million and tangible leverage of 4.55:1,” said Steven Hudson, Element’s Chief Executive Officer.

Overall, new originations amounted to $1.5 billion for the three-month period ended March 31, 2015 versus $1.7 billion reported in the seasonally strong three-month period ended December 31, 2014. Fleet Management accounted for $663.7 million of Q1 originations while the Rail Finance vertical contributed $161.2 million. Aviation Finance accounted for $265.3 million of Q1 originations while the Commercial & Vendor vertical accounted for $367.1 million. The US market accounted for 72 percent of the new origination volume reported during the period versus 71 percent in the three month period ending December 31, 2014. These results are in line with the Company’s previous guidance of $6.5 billion of new originations during 2015.

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