Santander Consumer USA (SC) Tops Q2 EPS by 14c, Beats on Revenues

Santander Consumer USA (NYSE: SC) reported Q2 EPS of $0.74, $0.14 better than the analyst estimate of $0.60. Revenue for the quarter came in at $1.67 billion versus the consensus estimate of $1.59 billion.

Q2 2017 Highlights (variances compared to Q2 2016):

• Announced proposed dividends of $0.03 per share in Q4 2017 and $0.05 per share in Q1 and Q2 of 2018, following the Comprehensive Capital Analysis and Review ("CCAR") results of Santander Holdings USA, Inc. ("SHUSA")
• Total auto originations of $5.5 billion, up 1%
  • Core retail auto loan originations of $2.3 billion, up 36%
  • Chrysler Capital nonprime loan originations of $948 million, up 11%
  • Chrysler Capital prime loan originations of $854 million, down 30%
• Net finance and other interest income of $1.1 billion, down 6%
• Net leased vehicle income of $131 million, up 5%
• Return on average assets of 2.7%, down from 3.0%
• Common equity tier 1 ("CET1") ratio of 14.3%, up 170 bps
• Executed asset sales of $536 million through Banco Santander flow agreement
• Completed national roll out of Chrysler Capital VIP program with more than 2,500 dealers enrolled
• Chrysler penetration rate of 20%, up from 19% at the end of the first quarter of 2017
• Issued $2.3 billion in securitizations, including the first public DRIVE securitization

For earnings history and earnings-related data on Santander Consumer USA (SC) click here.

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