SLM Q3 2020 Earnings Report

Sallie Mae reported third-quarter financial results with net income attributable to common stock of $169 million.

Key Takeaways

Sallie Mae reported a GAAP net income attributable to common stock of $169 million, or $0.45 per diluted share, and "Core Earnings" attributable to common stock of $179 million, or $0.47 per diluted share. The company initiated a restructuring program focused on improving operational efficiencies and recorded a $24 million restructuring charge. $1.9 billion in private education loans were originated during the quarter, and the personal loan portfolio was sold as part of a continued focus on the core business.

GAAP Net Income Attributable to Common Stock was $169 million, or $0.45 Per Diluted Share.

Core Earnings Attributable to Common Stock was $179 million, or $0.47 Per Diluted Share.

Restructuring program was initiated to improve operational efficiencies, resulting in a $24 million restructuring charge.

$1.9 Billion in Private Education Loans Originated During Quarter.