earnings
confidence high
sentiment positive
materiality 0.70
Navient Q3 GAAP net income $105M ($0.75 EPS); Adjusted Core EPS $0.75, shares repurchased $95M
NAVIENT CORP
2022-Q3 EPS reported
$3.67
revenue$261,000,000
- GAAP net income $105M, diluted EPS $0.75; Adjusted Core EPS $0.75; Core EPS $0.62.
- Pre-tax income reduced by $10M from incremental FFELP consolidation related to loan forgiveness plans; $28M provision for loan losses for deteriorating economy.
- Consumer Lending originated $447M of private loans; delinquency rate 4.4% remains below pre-pandemic levels.
- Repurchased $95M of common shares; $685M share repurchase authority remains; paid $22M in dividends.
- Business Processing segment EBITDA $13M on revenue $79M.