Sallie Mae posts Q3 loss of $0.19/share on $214M provision; cuts FY2026 EPS guidance to $1.95-$2.05

SLM Corp

GAAP net loss of $32M, or $0.19 per diluted share, versus net income of $136M ($0.63) a year ago; net interest income $339M vs $373M.
Private Education Loan originations $3.4B, up 15% YoY and a record quarter; graduate loan originations up 119% after PLUS reform; average FICO 757, cosigner rate 92%.
Provisions for credit losses $214M vs $179M; net charge-offs $90M vs $77.5M tied to misaligned third-party debt resolution practices; delinquencies 4.2% of loans in repayment.
FY2026 EPS guidance cut to $1.95-$2.05 from $3.10-$3.20; net charge-off outlook raised to $400-$420M from $365-$385M; originations growth 12-14% and expenses $750-$780M unchanged.
Repurchased 5.1M shares for $132.2M in Q3, $111M left on 2026 program; sold $143M of seasoned loans to a new global investment firm partner; cost of funds 4.21%.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.