Loading...
•
Sep 30, 2022
SLM Q3 2022 Earnings Report
Reported a net income of $73 million and private education loan originations increased by 13 percent.
Key Takeaways
Sallie Mae reported third-quarter GAAP net income attributable to common stock of $73 million, or $0.29 per diluted share. Private education loan originations increased 13 percent from the year-ago quarter to $2.4 billion. The company completed $1.0 billion in private education loan sales during the quarter, resulting in a $75 million gain.
GAAP net income of $75 million, up 3%.
Net interest income of $370 million, up 3%.
Private education loan originations of $2.4 billion, up 13%.
Sold $1.0 billion in private education loans; there were no private education loans sales in the year-ago period.
Forward Guidance
For 2022, the company expects full-year diluted non-GAAP “Core Earnings” per common share of $2.50 - $2.60, full-year Private Education Loan originations year-over-year growth of 9% - 11%, full-year total loan portfolio net charge-offs of $325 million - $345 million, and full-year non-interest expenses of $555 million - $565 million.
Positive Outlook
- Full-year diluted non-GAAP “Core Earnings” per common share of $2.50 - $2.60.
- Full-year Private Education Loan originations year-over-year growth of 9% - 11%.
- Full-year total loan portfolio net charge-offs of $325 million - $345 million.
- Full-year non-interest expenses of $555 million - $565 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...