Navient reports Q4 GAAP net loss of $28M; core EPS $0.21; initiates restructuring and strategic review

NAVIENT CORP

2023-FY EPS reported $1.85 revenue$321,000,000

Q4 GAAP net loss of $28M ($0.25 diluted EPS); Core Earnings of $24M ($0.21 diluted EPS).
Full-year 2023 GAAP net income $228M ($1.85 EPS); Core Earnings $303M ($2.45 EPS).
Significant items: $35M provision for loan losses, $32M regulatory/restructuring ($28M CFPB accrual), $8M debt repurchase losses.
CEO announces outsourcing student loan servicing, exploring divestiture of business processing division, and streamlining corporate footprint.
Repurchased $70M common shares; $290M remaining authority. Retired $850M unsecured debt; issued $500M unsecured and $516M ABS.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NAVIENT CORP reported the quarter ended December 31, 2023 results: net income $28 million ($0.25 diluted loss per share), EPS ($0.25) per share.

Period: the quarter ended December 31, 2023
Net income: $28 million ($0.25 diluted loss per share)
EPS: ($0.25) per share
Result: reported results

Exact text from the filing

GAAP net loss of $28 million ($0.25 diluted loss per share).

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NAVIENT CORP reported 2023 full year results: net income $228 million ($1.85 diluted earnings per share), EPS $1.85 per share.

Period: 2023 full year
Net income: $228 million ($1.85 diluted earnings per share)
EPS: $1.85 per share
Result: reported results

Exact text from the filing

GAAP net income of $228 million ($1.85 diluted earnings per share).

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

NAVIENT CORP filing history →

Source: SEC EDGAR

accession 0001193125-24-019637

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