Springleaf Holdings (LEAF) Tops Q3 EPS by 4c

Springleaf Holdings (NYSE: LEAF) reported Q3 EPS of $0.55, versus the analyst estimate of $0.51.

Third Quarter Highlights

• Branch consumer net finance receivables reached $3.6 billion at September 30, 2014, an increase of $610 million, or 21% from September 30, 2013, and up 6% from June 30, 2014.
• Consumer net finance receivables per branch were $4.3 million at September 30, 2014, up 21% from September 30, 2013 and 6% from June 30, 2014.
• Risk-adjusted yield for our Consumer segment in the quarter was 22.34%, up 45 basis points from the third quarter 20135.
• The company closed on the sale of its interests in approximately $6.0 billion of non-core real estate assets and related servicing2,3, essentially completing the company’s previously disclosed mortgage liquidation plan. The transactions generated a pretax gain of approximately $610 million1.

“Continued execution of our strategy to drive profitable growth in our Core Consumer business led to another quarter of outstanding results,” said Jay Levine, President and CEO of Springleaf. “Our principal objective in the consumer lending business has been to realize the benefits of scale in our branch operations by continuing to grow receivables per branch, and we reached that objective again this quarter, helping to drive Core Earnings up 42% from last year. The combination of solid performance in our branches and our very strong cash position leaves us well-positioned to continue to grow.”

For earnings history and earnings-related data on Springleaf Holdings (LEAF) click here.

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