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Jun 30, 2023
SLM Q2 2023 Earnings Report
Second quarter GAAP net income attributable to common stock of $261 million, or $1.10 per diluted share.
Key Takeaways
Sallie Mae reported strong second-quarter results driven by a focus on maximizing the profitability of its core business. The company executed a successful loan sale and share buyback, and continued to innovate with the transaction with Scholly.
GAAP net income was $265 million, down 23% year-over-year.
Net interest income was $387 million, up 7% year-over-year.
Private education loan originations were $651 million, up 6% year-over-year.
The company repurchased 16 million shares of common stock in the second quarter of 2023.
SLM
SLM
SLM Revenue by Segment
Revenue by Segment
Net Interest Income Revenue
CapyFin.com Forward Guidance
For 2023, Sallie Mae expects full-year diluted non-GAAP “Core Earnings” per common share of $2.50 - $2.70, full-year Private Education Loan originations year-over-year growth of 5% - 6%, full-year total loan portfolio net charge-offs of $345 million - $385 million, and full-year non-interest expenses of $610 million - $620 million.
Positive Outlook
- Full-year diluted non-GAAP “Core Earnings” per common share of $2.50 - $2.70.
- Full-year Private Education Loan originations year-over-year growth of 5% - 6%.
- Full-year total loan portfolio net charge-offs of $345 million - $385 million.
- Full-year non-interest expenses of $610 million - $620 million.