Sallie Mae reports Q1 GAAP EPS $1.27, net income $285M; guides FY24 EPS $2.60-$2.70

SLM Corp

2024-Q1 EPS reported $1.27

GAAP diluted EPS $1.27, net income $285M; net interest margin 5.49%, down 21 bps YoY.
Private education loan originations grew 6% YoY; $2.1B loan sale in Q1.
Provision for credit losses $12M vs $113M a year ago; net charge-offs 2.14% annualized.
FY24 guidance: EPS $2.60-$2.70, originations growth 7-8%, NCOs 2.2-2.4%, non-interest expenses $635-655M.
$27M share repurchases in Q1 (1.3M shares); $623M remaining under 2024 repurchase program.

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 ended March 31, 2024 results: net income $285M GAAP Net Income attributable to common stock in Q1 2024, EPS $1.27 GAAP Diluted Earnings Per Common Share. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Net income: $285M GAAP Net Income attributable to common stock in Q1 2024
EPS: $1.27 GAAP Diluted Earnings Per Common Share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On April 24, 2024, SLM Corporation (the “Company”) reported its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001628280-24-017665

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