Sallie Mae Q4 GAAP net loss $81M ($0.33/share); full-year net income $460M; issues 2023 guidance

SLM Corp

2022-FY EPS reported $1.76

Q4 GAAP net loss attributable to common stock $81M ($0.33 loss per diluted share); full-year net income $460M ($1.76 diluted EPS).
Q4 provision for credit losses surged to $297M from negative $15M a year ago, citing loan growth, slower prepayments, and operational issues.
Recorded $60M impairment on non-marketable equity securities in Q4.
Full-year net interest margin 5.31% (+10% YoY); private education loan originations $6.0B (+10% YoY).
2023 guidance: Core EPS $2.50-$2.70; originations growth 5%-6%; net charge-offs $345M-$385M; non-interest expenses $610M-$620M.

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

SLM Corp reported the quarter and year ended December 31, 2022 results: net income GAAP Net Loss Attributable to Common Stock of $81 Million, $0.33 Loss Per Share; Full-Year 2022 GAAP Net Income Attribut, EPS $0.33 Loss Per Share; $1.76 Per Diluted Share.

Period: the quarter and year ended December 31, 2022
Net income: GAAP Net Loss Attributable to Common Stock of $81 Million, $0.33 Loss Per Share; Full-Year 2022 GAAP Net Income Attribut
EPS: $0.33 Loss Per Share; $1.76 Per Diluted Share
Result: reported results

Exact text from the filing

On February 1, 2023, SLM Corporation issued a press release announcing its financial results for the quarter and year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001628280-23-001918

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