Santander Consumer USA (SC) Tops Q3 EPS by 4c

Santander Consumer USA (NYSE: SC) reported Q3 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $1.82 billion versus the consensus estimate of $1.75 billion.

"Our performance in the third quarter demonstrates the continued strength in our business," said Scott Powell, SC President and CEO, who is also CEO of Santander US. "Earnings increased 17 percent versus the third quarter of 2017, with significant originations growth. We fully launched our program to originate SC auto loans at Santander Bank, creating value for both entities and for Fiat Chrysler. Santander Holdings USA terminated its 2015 Written Agreement with the Federal Reserve, which is among the most significant milestones we\'ve reached in resolving our legacy regulatory challenges."

Juan Carlos Alvarez, SC Chief Financial Officer, added, "As seasonal pressures increase in the second half of the year, our credit performance remains stable and originations are solid. During the third quarter we began to execute on our previously announced inaugural share repurchase plan, targeting a more efficient capital base, and remaining focused on expense management and more efficient funding."

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

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