SLM - Sallie Mae slides 5% as Q2 adjusted net income declines sequentially

Student lender Sallie Mae's ([[SLM]] -5.1%) Q2 non-GAAP net income rose Y/Y but was considerable down sequentially compared to Q1 2021.Q2 non-GAAP “Core Earnings” net income increased to $144.28M, or $0.45 per share, compared to a loss of $81.75M, or loss of $0.22 per share, in Q2 2020.In Q1 non-GAAP net income was $648.24M, or $1.77 per share.The company said originations, delinquency, non-interest expense, and net charge-off performance better than its internal business plan in Q2 2021.Net interest income declined to $339M, compared to $349M in Q2 2020. Q2 net interest margin 4.70%, from 4.55% in the year ago period.Non-interest expenses decreased to $128M, compared to $142M in Q2 2020.2021 Outlook: The company expects GAAP EPS to be between $3.15-$3.25.Non-interest expenses expected in the range of $ 525M to $535M.Private Education Loan originations yea rover-year growth estimate 6%-7%.Source: Press Release

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Sallie Mae slides 5% as Q2 adjusted net income declines sequentially