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Sep 30, 2021
SLM Q3 2021 Earnings Report
Reported GAAP net income attributable to common stock of $72 million, or $0.24 per diluted share.
Key Takeaways
Sallie Mae reported a decrease in GAAP net income of 57% to $73 million. Private education loan originations increased by 10% to $2.1 billion. The board approved a $250 million increase to the share repurchase program and declared a common stock dividend for Q4 2021 of $0.11 per share.
GAAP net income of $73 million, down 57%.
Net interest income of $358 million, down 2%.
Private education loan originations of $2.1 billion, up 10%.
Total operating expenses of $141 million, up from $127 million.
Forward Guidance
For 2021, the company expects full-year diluted “Core Earnings” per common share of $3.55 - $3.60, full-year Private Education Loan originations year-over-year growth of 3% - 4%, full-year total loan portfolio net charge-offs of $195 million - $205 million, and full-year non-interest expenses of $525 million - $530 million.
Positive Outlook
- Full-year diluted “Core Earnings” per common share of $3.55 - $3.60.
- Full-year Private Education Loan originations year-over-year growth of 3% - 4%.
- Full-year total loan portfolio net charge-offs of $195 million - $205 million.
- Full-year non-interest expenses of $525 million - $530 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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