Navient Q2 2024 GAAP net income $36M ($0.32 EPS); Core EPS $0.29; strategic moves advancing

NAVIENT CORP

2024-Q2 EPS reported $0.97 revenue$158,000,000

GAAP net income $36M ($0.32 diluted EPS); Core Earnings $33M ($0.29 diluted EPS).
Pre-tax income reduced by $35M from restructuring ($16M), regulatory ($12M), and FFELP prepayment write-off ($7M).
Consumer Lending net income $60M, originations $278M; Federal Education net income $28M, net interest margin 0.36%.
Business Processing segment revenue $81M, EBITDA $20M; process to divest division launched.
Repurchased $38M shares; $209M remaining authority; paid $17M dividends; issued $728M ABS.

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