Sallie Mae Q1 GAAP EPS $0.47; originations up 12% to $2.4B; $2B loan sale expected in May

SLM Corp

2023-Q1 EPS reported $0.47

GAAP net income attributable to common stock $114M, diluted EPS $0.47.
Private education loan originations rose 12% YoY to a record $2.4B.
Net charge-offs improved to 2.1% (annualized) from 3.15% in Q4 2022.
Plans to close $2B loan sale to unaffiliated third party in early May 2023.
Full-year Core Earnings guidance $2.50-$2.70 per share; originations growth 5-6%.

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 first-quarter 2023 results: net income GAAP Net Income Attributable to Common Stock of $114 Million, or $0.47 Per Diluted Share, EPS $0.47 Per Diluted Share.

Period: first-quarter 2023
Net income: GAAP Net Income Attributable to Common Stock of $114 Million, or $0.47 Per Diluted Share
EPS: $0.47 Per Diluted Share
Result: reported results

Exact text from the filing

Sallie Mae Reports First-Quarter 2023 Financial Results First-Quarter GAAP Net Income Attributable to Common Stock of $114 Million, or $0.47 Per Diluted Share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SLM Corp reported 2023 results: EPS Full-year diluted non-GAAP "Core Earnings" per common share of $2.50 - $2.70.**. Guidance initiated.

Period: 2023
EPS: Full-year diluted non-GAAP "Core Earnings" per common share of $2.50 - $2.70.**
Guidance: initiated
Result: guidance update

Exact text from the filing

For 2023, the company expects the following: • Full-year diluted non-GAAP "Core Earnings" per common share of $2.50 - $2.70.**

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Source: SEC EDGAR

accession 0001628280-23-013248

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