secwatch.observer — SEC 8-K summary
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Issuer:     SLM Corp (SLM)
CIK:        0001032033
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001628280-24-017665
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1032033/000162828024017665/0001628280-24-017665-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1032033/000162828024017665/slm-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-017665

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer