Brief: Sallie Mae Corp Posts Q1 GAAP Earnings Per Share $1.75

SLM

21/04/2021 22:00

April 21 (Reuters) - SLM Corp  SLM.O :
    * SALLIE MAE REPORTS FIRST-QUARTER 2021 FINANCIAL RESULTS
    * Q1 GAAP EARNINGS PER SHARE $1.75
    * FIRST QUARTER CORE EARNINGS ATTRIBUTABLE TO COMMON STOCK
OF
$1.77 PER DILUTED SHARE
    * COMPLETED $3.16 BILLION IN PRIVATE EDUCATION LOAN SALES
DURING
QUARTER RESULTING IN A $399 MILLION GAIN
    * QTRLY NET INTEREST INCOME OF $331 MILLION, DOWN 17%
    * QTRLY PRIVATE EDUCATION LOAN ORIGINATIONS OF $2.1 BILLION,
DOWN
10%
    * QTRLY PRIVATE EDUCATION LOAN PROVISIONS FOR CREDIT LOSSES
WAS
NEGATIVE $226 MILLION, DOWN FROM $36 MILLION
    * SEES FULL-YEAR DILUTED GAAP EARNINGS PER COMMON SHARE OF
$2.95 -
$3.15
    * SEES FULL-YEAR PRIVATE EDUCATION LOAN ORIGINATIONS
YEAR-OVER-YEAR GROWTH OF 6% - 7%.
    * SEES FULL-YEAR TOTAL LOAN PORTFOLIO NET CHARGE-OFFS OF
$260
MILLION - $280 MILLION
    * SEES FULL-YEAR NON-INTEREST EXPENSES OF $525 MILLION -
$535
MILLION
    * Q1 EARNINGS PER SHARE VIEW $1.07 -- REFINITIV IBES DATA
    * FY2021 EARNINGS PER SHARE VIEW $2.33 -- REFINITIV IBES
DATA

Source text for Eikon:  ID:nBw7fzkNRa 
Further company coverage:  SLM.O 

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