Navient Q3 GAAP net loss $2M; core EPS $1.45 on $219M Xtend sale gain

NAVIENT CORP

2024-Q3 EPS reported $0.95 revenue$228,000,000

GAAP net loss of $2M ($0.02 diluted loss); core earnings of $160M ($1.45 diluted EPS).
Pre-tax income boosted $166M from $219M gain on Xtend Healthcare sale closed Sep 19 for $369M cash.
Private Education Loan originations $500M, up 31% YoY; CEO says doubling Q4 share repurchases vs Q3.
Operating expenses $170M (ex $14M regulatory costs); repurchased $33M shares, $176M authority remains.
Business Processing segment net income $178M, EBITDA $233M; exploring divestiture of remaining govt services.

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