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Jun 30, 2021
SLM Q2 2021 Earnings Report
Reported GAAP net income attributable to common stock of $139 million and core earnings attributable to common stock of $144 million.
Key Takeaways
Sallie Mae reported a strong second quarter in 2021, with GAAP net income of $139 million, or $0.44 per diluted share, and core earnings of $144 million, or $0.45 per diluted share. The company originated $533 million in private education loans and repurchased 23 million shares of common stock, reducing the total common stock outstanding by 19% since the beginning of the year.
GAAP net income of $140 million, up 265%.
Net interest income of $339 million, down 3%.
Private education loan originations of $533 million, up 7%.
Repurchased $439 million of common stock under share repurchase programs.
Forward Guidance
For 2021, the company expects diluted GAAP earnings per common share of $3.15 - $3.25, Private Education Loan originations year-over-year growth of 6% - 7%, total loan portfolio net charge-offs of $215 million - $225 million, and non-interest expenses of $525 million - $535 million.
Positive Outlook
- Full-year diluted GAAP earnings per common share of $3.15 - $3.25.
- Full-year Private Education Loan originations year-over-year growth of 6% - 7%.
- Full-year total loan portfolio net charge-offs of $215 million - $225 million.
- Full-year non-interest expenses of $525 million - $535 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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