SLM - Sallie Mae beats Q1 top and bottom line estimates; initiates FY23 outlook
2023-04-26 16:41:39 ET
- Sallie Mae press release ( NASDAQ: SLM ): Q1 Non-GAAP EPS of $0.47 beats by $0.14 .
- Revenue of $427M (+7.6% Y/Y) beats by $54.02M .
- Net interest margin was 5.70%, up 41 basis points
- Sallie Mae Bank First-Quarter Liquidity Ratio of 19.7%, up from 17.2% in the Year-Ago Quarter.
- Provision for credit losses in the first quarter of 2023 was $114 million, compared with $98 million in the year-ago quarter.
- For 2023, the company expects the following: Full-year diluted non-GAAP per common share of $2.50 - $2.70 vs. consensus of $2.56.
- Full-year Private Education Loan originations year-over-year growth of 5% - 6%.
- Full-year total loan portfolio net charge-offs of $345 million - $385 million.
- Full-year non-interest expenses of $610 million - $620 million.
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Sallie Mae beats Q1 top and bottom line estimates; initiates FY23 outlook