NASDAQ$SLM
SLM Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Delivered strong results driven by a successful peak season and solid credit performance.
Sallie Mae reported strong third-quarter results, driven by a successful peak season and solid credit performance. GAAP net income attributable to common stock was $25 million, or $0.11 per diluted share. Private education loan originations increased 4% year-over-year to $2.5 billion.
- GAAP net income of $29 million, down 61% primarily due to $1 billion in private education loan sales in the year-ago period.
- Net interest income of $385 million, up 4%.
- Private education loan originations of $2.5 billion, up 4%.
- Total operating expenses of $167 million, up from $150 million.
Headline financials
Revenue & EPS history
SLM · Revenue · Quarterly
$409M
Forward guidance
For 2023, Sallie Mae expects full-year diluted non-GAAP “Core Earnings” per common share of $2.55 - $2.65, full-year Private Education Loan originations year-over-year growth of 6% - 7%, full-year total loan portfolio net charge-offs of $375 million - $385 million, and full-year non-interest expenses of $625 million - $630 million.
Tailwinds
- Full-year diluted non-GAAP “Core Earnings” per common share of $2.55 - $2.65.
- Full-year Private Education Loan originations year-over-year growth of 6% - 7%.
- The company expects gross charge-offs for full year 2023 to be equal to, or slightly better than, its original 2023 outlook.
- This shift improved our expected long-term recovery rates
- Non-interest expense guidance was updated for higher-than-expected portfolio growth, the impact of investments made during the year, as well as other inflationary pressures.
Headwinds
- Full-year total loan portfolio net charge-offs of $375 million - $385 million.
- Full-year non-interest expenses of $625 million - $630 million.
- Net charge-offs are expected to end the year towards the higher end of our guidance range due to the change in our recovery strategy that shifted more of our efforts in house.
- it will likely impact the timing of recoveries this year.
- Investments made during the year, as well as other inflationary pressures.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.0%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.9%
Avg return
30 days after
46%
33 / 72 earnings
Positive
+33.2%
Q4 2019
Best reaction
-16.6%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.8% | -1.8% | -5.5% | |
| Q4 2025 | +3.3% | -1.2% | -15.4% | |
| Q3 2025 | +3.6% | +0.9% | +4.3% | |
| Q2 2025 | -8.1% | -7.1% | -14.7% | |
| Q1 2025 | -1.4% | +2.7% | +19.3% | |
| Q3 2024 | -3.6% | -3.0% | +17.8% | |
| Q2 2024 | -2.1% | -4.0% | -7.9% | |
| Q1 2024 | +0.0% | -1.4% | -4.3% | |
| Q4 2023 | +3.5% | +5.1% | +2.5% | |
| Q3 2023 | +1.2% | +1.2% | +10.6% | |
| Q2 2023 | -4.5% | -1.8% | -13.2% | |
| Q1 2023 | +6.0% | +3.5% | +11.1% | |
| Q4 2022 | -15.8% | -12.5% | -18.9% | |
| Q3 2022 | -1.8% | +1.2% | +4.2% | |
| Q2 2022 | -5.1% | -3.1% | -9.2% | |
| Q1 2022 | +1.4% | +1.6% | +17.0% | |
| Q4 2021 | +2.0% | +6.8% | +16.4% | |
| Q3 2021 | +4.4% | +6.5% | +4.7% | |
| Q2 2021 | -4.2% | -6.3% | -8.3% | |
| Q1 2021 | -0.6% | +1.5% | +4.5% | |
| Q4 2020 | +6.7% | +5.5% | +20.9% | |
| Q3 2020 | -0.8% | +0.2% | +14.0% | |
| Q2 2020 | -1.8% | -2.0% | +1.4% | |
| Q1 2020 | +6.2% | +10.4% | +8.1% | |
| Q4 2019 | +33.2% | +27.0% | +36.5% | |
| Q3 2019 | -7.6% | -5.4% | -3.4% | |
| Q2 2019 | -4.3% | -4.1% | -14.4% | |
| Q1 2019 | -3.1% | -3.8% | -1.5% | |
| Q4 2018 | +14.4% | +15.8% | +21.1% | |
| Q3 2018 | -2.6% | -6.0% | -4.4% | |
| Q2 2018 | -5.0% | -2.5% | -2.5% | |
| Q1 2018 | +2.3% | +0.6% | +0.0% | |
| Q4 2017 | -2.1% | -3.9% | -1.7% | |
| Q3 2017 | +1.7% | -2.9% | -8.2% | |
| Q2 2017 | -4.3% | -3.4% | -9.9% | |
| Q1 2017 | +10.5% | +11.0% | -4.9% | |
| Q4 2016 | +3.6% | +3.6% | +11.6% | |
| Q3 2016 | -1.8% | -0.8% | +30.8% | |
| Q2 2016 | -1.4% | -0.6% | +3.4% | |
| Q1 2016 | +2.2% | — | — | |
| Q4 2015 | +11.9% | — | — | |
| Q3 2015 | -1.4% | — | — | |
| Q2 2015 | -5.6% | — | — | |
| Q1 2015 | +4.1% | — | — | |
| Q4 2014 | -6.0% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | +3.3% | — | — | |
| Q1 2014 | +4.3% | — | — | |
| Q4 2013 | -10.1% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | +4.4% | — | — | |
| Q1 2013 | -5.1% | — | — | |
| Q4 2012 | -3.1% | — | — | |
| Q3 2012 | -1.1% | — | — | |
| Q4 2011 | +1.8% | — | — | |
| Q2 2012 | -6.1% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q3 2011 | +0.6% | — | — | |
| Q2 2011 | -16.6% | — | — | |
| Q1 2011 | -2.2% | — | — | |
| Q4 2009 | -4.1% | — | — | |
| Q4 2010 | -4.1% | — | — | |
| Q4 2008 | -4.1% | — | — | |
| Q3 2010 | -2.6% | — | — | |
| Q2 2010 | +3.6% | — | — | |
| Q1 2009 | -5.5% | — | — | |
| Q1 2010 | -0.2% | — | — | |
| Q4 2007 | -1.3% | — | — | |
| Q3 2009 | +3.7% | — | — | |
| Q3 2008 | +3.7% | — | — | |
| Q2 2008 | +4.8% | — | — | |
| Q2 2009 | +4.8% | — | — |
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