Sallie Mae (SLM) Reports In-Line Q2 EPS; Guides FY14 EPS Below Expectations

Sallie Mae (NASDAQ: SLM) reported Q2 EPS of $0.10, in-line with the analyst estimate of $0.10.

Second-quarter 2014 financial results included the effect of the spin-off of its legacy loan servicing and asset recovery businesses into Navient Corporation on April 30, 2014. The transaction was treated as a reverse-spin for accounting purposes, and as a result, Sallie Mae’s historical financial statements and education loan portfolio information prior to April 30, 2014, include only those operations, assets, liabilities and equity of the consumer banking business Sallie Mae now operates on a stand-alone basis.

The company expects 2014 results to be as follows:

• Full-year private education loan originations of $4 billion.
• Full-year operating expenses of $312 million, including $32 million of reorganization expenses.
• $1.2 billion of private education loan sales in the second half of the year.
• Provision for private education loan losses of approximately $60 million in the second half of the year.
• Full-year diluted core earnings per share between $.41 and $.43. (The Street is at EPS of $0.48.)

For earnings history and earnings-related data on Sallie Mae (SLM) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat