SLM - Sallie Mae stock slumps 13% as FY22 outlook seen below estimates
- Sallie Mae ( NASDAQ: SLM ) stock fell ~13% on July 28 after the company placed its FY22 EPS outlook below estimates.
- Non-GAAP EPS rose +187 Y/Y to $1.29.
- Net interest income grew +7% to $363M, while total non-interest income increased +396% Y/Y to $258M.
- Private Education Loan Originations rose 16% Y/Y to $616M.
- The company said it sold $2.1B in private education loans, up from $27M private education loans sales in the year-ago period.
- In Q2, the company bought back 20M common shares at $360M at an average price of $18.01 per share.
- Outlook :
- Sallie Mae expects full year 2022 non-GAAP EPS to be between $2.50 and $2.70. Consensus EPS Estimate is $2.88.
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- The company expects Private Education Loan originations Y/Y growth of 9% - 11%. Full-year total loan portfolio net charge-offs of $325M - $345M. FY22 non-interest expenses of $555M - $565M.
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Sallie Mae stock slumps 13% as FY22 outlook seen below estimates