Sallie Mae Q4 net income $164M; FY2023 originations up 7%; new $650M buyback; 2024 Core EPS guide $2.60-2.70

SLM Corp

2023-FY EPS reported $2.41

Q4 GAAP net income attributable to common $164M ($0.72 diluted EPS); full-year GAAP net income $564M ($2.41 diluted EPS).
FY2023 private education loan originations $6.4B, up 7% YoY; Q4 net charge-offs 2.43% vs 3.15% YoY.
Board approved new $650M share repurchase program (effective Jan 26, 2024, expires Feb 6, 2026).
Non-cash $56M impairment charge to write down Nitro trade name and trademarks.
FY2024 guidance: Core diluted EPS $2.60-$2.70; originations growth 7-8%; net charge-offs $340M-$370M.

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 0.99

SLM Corp reported quarter ended December 31, 2023 results: net income GAAP net income of $168 million.

Period: quarter ended December 31, 2023
Net income: GAAP net income of $168 million
Result: reported results

Exact text from the filing

Fourth-Quarter 2022 Highlights Core Business Strategy Results: • GAAP net income of $168 million, up 319%. • Net interest income of $386 million, up 1%.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

SLM Corp reported quarter and year ended December 31, 2023 results: net income GAAP Net Income Attributable to Common Stock of $164 Million, $0.72 Per Diluted Share; Full-Year 2023 GAAP Net Income At, EPS GAAP Net Income Attributable to Common Stock of $164 Million, $0.72 Per Diluted Share; Full-Year 2023 GAAP Net Income At.

Period: quarter and year ended December 31, 2023
Net income: GAAP Net Income Attributable to Common Stock of $164 Million, $0.72 Per Diluted Share; Full-Year 2023 GAAP Net Income At
EPS: GAAP Net Income Attributable to Common Stock of $164 Million, $0.72 Per Diluted Share; Full-Year 2023 GAAP Net Income At
Result: reported results

Exact text from the filing

SALLIE MAE REPORTS FOURTH-QUARTER AND FULL-YEAR 2023 FINANCIAL RESULTS Fourth-Quarter GAAP Net Income Attributable to Common Stock of $164 Million, $0.72 Per Diluted Share; Full-Year 2023 GAAP Net Income Attributable to Common Stock of $564 Million, $2.41 Per Diluted Share

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SLM Corp filing history →

Source: SEC EDGAR

accession 0001628280-24-002063

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