ONEMAIN HOLDINGS, INC. REPORTS FIRST QUARTER 2025 RESULTS

Rhea-AI Summary

OneMain Holdings reported strong Q1 2025 financial results, with net income reaching $213 million and diluted EPS of $1.78, up from $155 million and $1.29 in the prior year. The company declared a quarterly dividend of $1.04 per share.

Key highlights include:

• Managed receivables grew 12% to $24.6 billion
• Consumer loan originations increased 20% to $3.0 billion
• Total revenue rose 10% to $1.5 billion
• Interest income up 11% to $1.3 billion

The Consumer and Insurance segment showed improved performance with adjusted net income of $207 million. Credit metrics demonstrated strength with lower delinquency ratios: 30+ days at 5.16% and 90+ days at 2.38%. The company maintains strong liquidity with $627 million in cash and cash equivalents, plus $1.1 billion in undrawn committed capacity.

Positive

• Net income increased 37.4% YoY to $213M from $155M
• Earnings per share grew 38% to $1.78 from $1.29 YoY
• Consumer loan originations up 20% YoY to $3.0B
• Managed receivables grew 12% YoY to $24.6B
• Total revenue increased 10% YoY to $1.5B
• Interest income up 11% YoY to $1.3B
• 30+ days delinquency ratio improved to 5.16% from 5.57% YoY
• 90+ days delinquency ratio improved to 2.38% from 2.86% YoY
• Net charge-offs improved to 7.83% from 8.58% YoY
• Strong liquidity position with $627M cash and $1.1B undrawn credit

Negative

• Interest expense increased 13% YoY to $311M
• Operating expenses rose 11% YoY to $401M
• Net charge-offs increased QoQ to 7.83% from 7.63%

Insights

Financial Analyst

OneMain delivered impressive Q1 results with 38% EPS growth, 12% receivables growth, and improved credit metrics while maintaining shareholder returns.

OneMain Holdings' Q1 2025 financial results demonstrate robust growth across key metrics. Net income reached $213 million, jumping 37.4% from the prior year, while diluted EPS climbed to $1.78, a 38% improvement. This impressive performance was driven by substantial business expansion - managed receivables grew 12% to $24.6 billion and consumer loan originations increased by 20% to $3.0 billion.

The Consumer and Insurance segment, which forms the core of their business, delivered adjusted net income of $207 million (up 18.3%) and adjusted EPS of $1.72 (up 18.6%). Management's preferred metric of capital generation improved to $194 million from $155 million last year, indicating stronger underlying business performance.

Credit quality metrics show encouraging trends amid a challenging economic environment for non-prime borrowers. The 30+ days delinquency ratio improved to 5.16% from 5.57% year-over-year and 5.76% sequentially. Net charge-offs of 7.83%, while up slightly from Q4's 7.63%, have improved from 8.58% a year ago.

OneMain continues returning capital to shareholders through its $1.04 quarterly dividend and share repurchases of $16 million during the quarter. The company maintains strong liquidity with $627 million in cash and cash equivalents plus significant undrawn capacity across various facilities.

Operating expenses increased 11%, in line with receivables growth, while interest expense rose 13%, reflecting both portfolio expansion and the higher rate environment. Overall, OneMain has successfully executed its growth strategy while maintaining credit discipline and preserving shareholder returns.

• 1Q 2025 Diluted EPS of $1.78
• 1Q 2025 C&I adjusted diluted EPS of $1.72
• 1Q 2025 Managed receivables of $24.6 billion
• Declared quarterly dividend of $1.04 per share

NEW YORK, April 29, 2025 /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, today reported pretax income of $275 million and net income of $213 million for the first quarter of 2025, compared to $204 million and $155 million, respectively, in the prior year quarter. Earnings per diluted share were $1.78 in the first quarter of 2025, compared to $1.29 in the prior year quarter.

On April 29, 2025, OneMain declared a quarterly dividend of $1.04 per share, payable on May 16, 2025, to record holders of the Company's common stock as of the close of business on May 9, 2025.

During the quarter, the Company repurchased approximately 323 thousand shares of common stock for $16 million.

"As we progress through 2025, OneMain continues to be in a very strong position," said Doug Shulman, Chairman and CEO of OneMain. "Our commitment to innovative financial solutions and disciplined credit and balance sheet management sets us up to deliver exceptional value to both our customers and shareholders."

The following segment results are reported on a non-GAAP basis. Refer to the required reconciliations of non-GAAP to comparable GAAP measures at the end of this press release.

Consumer and Insurance Segment ("C&I")

C&I adjusted pretax income was $275 million and adjusted net income was $207 million for the first quarter of 2025, compared to $233 million and $175 million, respectively, in the prior year quarter. Adjusted earnings per diluted share were $1.72 for the first quarter of 2025, compared to $1.45 in the prior year quarter.

Management runs the business based on capital generation, which it defines as C&I adjusted net income excluding the after-tax change in C&I allowance for finance receivable losses while still considering the current period C&I net charge-offs. Capital generation was $194 million for the first quarter 2025, compared to $155 million in the prior year quarter. The increase was driven by receivable growth and improved credit performance in the current quarter compared to the prior year period.

Managed receivables, which includes loans serviced for our whole loan sale partners and auto finance loans originated by third parties, were $24.6 billion at March 31, 2025, up 12% from $22.0 billion at March 31, 2024.

Consumer loan originations totaled $3.0 billion in the first quarter of 2025, up 20% from $2.5 billion in the prior year quarter.

Total revenue, comprising interest income and total other revenue, was $1.5 billion in the first quarter of 2024, up 10% from $1.4 billion in the prior year quarter. Interest income in the first quarter of 2025 was $1.3 billion, up 11% from $1.2 billion in the prior year quarter. The increase was driven by receivable growth and improved portfolio yield.

Interest expense was $311 million in the first quarter of 2025, up 13% from $276 million in the prior year quarter, due to an increase in average debt to support our receivables growth.

The provision for finance receivable losses was $456 million in the first quarter of 2025, up $25 million compared to the prior year period. During the first quarter of 2025, the allowance for finance receivable losses decreased $17 million driven by a seasonal decline in receivables.

C&I Select Delinquency and Loss Ratios		March 31, 2025		December 31, 2024		March 31, 2024
Consumer loans:
30+ days delinquency ratio		5.16 %		5.76 %		5.57 %
90+ days delinquency ratio		2.38 %		2.52 %		2.86 %
30-89 days delinquency ratio		2.77 %		3.24 %		2.72 %
Net charge-offs		7.83 %		7.63 %		8.58 %

Operating expense for the first quarter of 2025 was $401 million, up 11% from $362 million in the prior year quarter reflecting receivable growth and our strategic investments in the business.

Funding and Liquidity

As of March 31, 2025, the Company had principal debt balances outstanding of $21.8 billion, 55% of which was secured. The Company had $627 million of cash and cash equivalents, which included $139 million of cash and cash equivalents held at regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes.

Cash and cash equivalents, together with the Company's $1.1 billion of undrawn committed capacity from an unsecured corporate revolver, $6.4 billion of undrawn committed capacity under revolving conduit facilities and credit card variable funding note facilities, and $10.2 billion of unencumbered receivables, provides significant liquidity resources.

Conference Call & Webcast Information

OneMain management will host a conference call and webcast to discuss the Company's results, outlook, and related matters at 9:00 am Eastern Time on Tuesday, April 29, 2025. Both the call and webcast are open to the general public. The general public is invited to listen to the call by dialing 800-451-7724 (U.S. domestic) or 785-424-1116 (international), and using conference ID 93264, or via a live audio webcast through OneMain's investor relations website at http://investor.onemainfinancial.com. For those unable to listen to the live broadcast, a replay will be available on the website after the event. An investor presentation will be available on the OneMain's investor relations website prior to the start of the conference call.

About OneMain Holdings, Inc.

OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 47 states, available online and in 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com.

Use of Non-GAAP Financial Measures

We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes net loss resulting from repurchases and repayments of debt, restructuring charges, acquisition-related transaction and integration expenses, regulatory settlements, and strategic activities and other items. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment.

We also use pretax capital generation and capital generation, non-GAAP financial measures, as a key performance measure of our segment. Pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Capital generation represents the after-tax effect of pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company's reserves, combined with its equity, represent the Company's loss absorption capacity. 

We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH's executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP.

This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the Company's other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov).

Cautionary Note Regarding Forward-Looking Statements

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "anticipates," "appears," "assumes," "believes," "can," "continues," "could," "estimates," "expects," "forecasts," "foresees," "goal," "intends," "likely," "objective," "plans," "projects," "target," "trend," "remains," and similar expressions or future or conditional verbs such as "could," "may," "might," "should," "will" or "would" are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements.

Forward-looking statements are not statements of historical fact but instead represent only management's current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions outside the U.S.; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the "Risk Factors" and "Management's Discussion and Analysis" sections of the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC from time to time.

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.

Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law.

OneMain Holdings, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
		Quarter Ended											Fiscal Year
(unaudited, $ in millions, except per share amounts)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024			2024		2023
Interest income		$        1,308		$        1,320		$        1,282		$        1,219		$        1,173			$        4,993		$        4,564
Interest expense		(312)		(311)		(301)		(297)		(277)			(1,185)		(1,019)
Net interest income		996		1,009		981		922		896			3,808		3,545
Provision for finance receivable losses		(456)		(523)		(512)		(575)		(431)			(2,040)		(1,721)
Net interest income after provision for finance receivable losses		540		486		469		347		465			1,768		1,824
Insurance		110		111		111		111		112			445		448
Investment		26		21		24		30		32			108		116
Gain on sales of finance receivables		16		5		6		6		6			23		52
Net loss on repurchases and repayments of debt		(5)		(19)		(1)		(12)		(2)			(34)		—
Other		41		42		42		39		32			153		119
Total other revenues		188		160		182		174		180			695		735
Operating expenses		(404)		(433)		(401)		(382)		(391)			(1,607)		(1,530)
Insurance policy benefits and claims		(49)		(49)		(43)		(47)		(50)			(189)		(189)
Total other expenses		(453)		(482)		(444)		(429)		(441)			(1,796)		(1,719)
Income before income taxes		275		164		207		92		204			667		840
Income taxes		(62)		(38)		(50)		(21)		(49)			(158)		(199)
Net income		$           213		$           126		$           157		$             71		$           155			$           509		$           641
Weighted average number of diluted shares		120.0		119.9		120.1		120.2		120.2			120.1		120.6
Diluted EPS		$          1.78		$          1.05		$          1.31		$          0.59		$          1.29			$          4.24		$          5.32
Book value per basic share		$        27.50		$        26.74		$        26.87		$        26.33		$        26.81			$        26.74		$        26.60
Return on assets		3.3 %		1.9 %		2.5 %		1.1 %		2.6 %			2.0 %		2.7 %
Change in allowance for finance receivable losses		$             17		$          (60)		$          (81)		$          (79)		$             26			$        (194)		$        (185)
Net charge-offs		(473)		(463)		(431)		(496)		(457)			(1,846)		(1,536)
Provision for finance receivable losses		$        (456)		$        (523)		$        (512)		$        (575)		$        (431)			$     (2,040)		$     (1,721)

Note:	Quarters may not sum to fiscal year due to rounding.

 

OneMain Holdings, Inc.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
		As of
(unaudited, $ in millions)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024
Assets
Cash and cash equivalents		$           627		$           458		$           577		$           667		$           831
Investment securities		1,670		1,607		1,581		1,681		1,691
Net finance receivables		23,328		23,554		23,075		22,365		21,083
Unearned insurance premium and claim reserves		(747)		(766)		(765)		(753)		(749)
Allowance for finance receivable losses		(2,688)		(2,705)		(2,645)		(2,564)		(2,454)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses		19,893		20,083		19,665		19,048		17,880
Restricted cash and restricted cash equivalents		736		684		693		630		599
Goodwill		1,474		1,474		1,474		1,474		1,437
Other intangible assets		285		286		288		289		259
Other assets		1,344		1,318		1,300		1,296		1,211
Total assets		$      26,029		$      25,910		$      25,578		$      25,085		$      23,908
Liabilities and Shareholders' Equity
Long-term debt		$      21,494		$      21,438		$      21,137		$      20,671		$      19,520
Insurance claims and policyholder liabilities		567		575		597		594		597
Deferred and accrued taxes		19		20		29		10		34
Other liabilities		669		686		607		657		543
Total liabilities		22,749		22,719		22,370		21,932		20,694
Common stock		1		1		1		1		1
Additional paid-in capital		1,734		1,734		1,728		1,723		1,718
Accumulated other comprehensive loss		(65)		(81)		(59)		(95)		(91)
Retained earnings		2,384		2,296		2,295		2,263		2,318
Treasury stock		(774)		(759)		(757)		(739)		(732)
Total shareholders' equity		3,280		3,191		3,208		3,153		3,214
Total liabilities and shareholders' equity		$      26,029		$      25,910		$      25,578		$      25,085		$      23,908

 

OneMain Holdings, Inc.
CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED)
		As of
(unaudited, $ in millions)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024
Liquidity
Cash and cash equivalents		$           627		$           458		$           577		$           667		$           831
Cash and cash equivalents unavailable for general corporate purposes		139		123		266		211		165
Unencumbered receivables		10,163		9,738		9,017		8,060		8,306
Undrawn conduit facilities		5,999		5,999		6,749		6,399		6,399
Undrawn corporate revolver		1,125		1,125		1,125		1,325		1,325
Private secured term funding available		725		—		—		—		—
Undrawn credit card revolving variable funding note facilities		400		300		300		300		300
Drawn conduit facilities		1		1		176		1		1
Net adjusted debt		$      20,833		$      20,931		$      20,653		$      20,043		$      18,682
Total Shareholders' equity		$        3,280		$        3,191		$        3,208		$        3,153		$        3,214
Accumulated other comprehensive loss		65		81		59		95		91
Goodwill		(1,474)		(1,474)		(1,474)		(1,474)		(1,437)
Other intangible assets		(285)		(286)		(288)		(289)		(259)
Junior subordinated debt		172		172		172		172		172
Adjusted tangible common equity		1,758		1,684		1,677		1,657		1,781
Allowance for finance receivable losses, net of tax *		2,016		2,029		1,984		1,923		1,840
Adjusted capital		$        3,774		$        3,713		$        3,661		$        3,580		$        3,621
Net leverage (net adjusted debt to adjusted capital)		5.5x		5.6x		5.6x		5.6x		5.2x

*	Income taxes assume a 25% tax rate.

 

OneMain Holdings, Inc.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
		Quarter Ended											Fiscal Year
(unaudited, $ in millions)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024			2024		2023
Consumer & Insurance		$           270		$           159		$           200		$           145		$           203			$           707		$           845
Other		1		(1)		—		—		—			(1)		(6)
Segment to GAAP adjustment		4		6		7		(53)		1			(39)		1
Income before income taxes - GAAP basis		$           275		$           164		$           207		$             92		$           204			$           667		$           840
Consumer & Insurance pretax income		$           270		$           159		$           200		$           145		$           203			$           707		$           845
Net loss on repurchases and repayments of debt		5		19		—		12		2			33		—
Restructuring charges		—		1		1		—		27			29		—
Acquisition-related transaction and integration expenses		—		5		1		2		1			9		—
Regulatory settlements		—		—		—		—		—			—		26
Other (1)		—		1		—		4		—			4		3
Consumer & Insurance adjusted pretax income (non-GAAP)		$           275		$           185		$           202		$           163		$           233			$           782		$           874
Reconciling items (2)		$            (1)		$          (20)		$               5		$          (71)		$          (29)			$        (114)		$          (28)
Consumer & Insurance		$      23,365		$      23,598		$      23,128		$      22,428		$      21,083			$      23,598		$      21,349
Segment to GAAP adjustment		(37)		(44)		(53)		(63)		—			(44)		—
Net finance receivables - GAAP basis		$      23,328		$      23,554		$      23,075		$      22,365		$      21,083			$      23,554		$      21,349
Consumer & Insurance		$        2,693		$        2,710		$        2,651		$        2,571		$        2,454			$        2,710		$        2,480
Segment to GAAP adjustment		(5)		(5)		(6)		(7)		—			(5)		—
Allowance for finance receivable losses - GAAP basis		$        2,688		$        2,705		$        2,645		$        2,564		$        2,454			$        2,705		$        2,480

               

Note:	Quarters may not sum to fiscal year due to rounding.
(1)	Includes strategic activities and other items.
(2)	Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality.

 

OneMain Holdings, Inc.
CONSUMER & INSURANCE SEGMENT (UNAUDITED) (Non-GAAP)
		Quarter Ended											Fiscal Year
(unaudited, in millions, except per share amounts)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024			2024		2023
Interest income		$        1,301		$        1,312		$        1,271		$        1,210		$        1,172			$        4,965		$        4,559
Interest expense		(311)		(310)		(299)		(295)		(276)			(1,181)		(1,015)
Net interest income		990		1,002		972		915		896			3,784		3,544
Provision for finance receivable losses		(456)		(523)		(512)		(515)		(431)			(1,981)		(1,721)
Net interest income after provision for finance receivable losses		534		479		460		400		465			1,803		1,823
Insurance		110		111		111		111		112			445		448
Investment		26		21		24		30		32			108		116
Gain on sales of finance receivables		16		5		6		6		6			23		52
Other		39		40		40		37		30			146		111
Total other revenues		191		177		181		184		180			722		727
Operating expenses		(401)		(422)		(396)		(374)		(362)			(1,554)		(1,487)
Insurance policy benefits and claims		(49)		(49)		(43)		(47)		(50)			(189)		(189)
Total other expenses		(450)		(471)		(439)		(421)		(412)			(1,743)		(1,676)
Adjusted pretax income (non-GAAP)		275		185		202		163		233			782		874
Income taxes *		(68)		(46)		(51)		(41)		(58)			(195)		(219)
Adjusted net income (non-GAAP)		$           207		$           139		$           151		$           122		$           175			$           587		$           655
Weighted average number of diluted shares		120.0		119.9		120.1		120.2		120.2			120.1		120.6
C&I adjusted diluted EPS		$          1.72		$          1.16		$          1.26		$          1.02		$          1.45			$          4.89		$          5.43

Note:	Quarters may not sum to fiscal year due to rounding.
*	Income taxes assume a 25% tax rate.

 

OneMain Holdings, Inc.
CONSUMER & INSURANCE SEGMENT METRICS (UNAUDITED)
		Quarter Ended											Fiscal Year
(unaudited, $ in millions)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024			2024		2023
Net finance receivables - personal loans		$      20,469		$      20,833		$      20,569		$      20,073		$      19,854			$      20,833		$      20,274
Net finance receivables - auto finance		2,220		2,122		2,009		1,889		843			2,122		745
Net finance receivables - consumer loans		22,689		22,955		22,578		21,962		20,697			22,955		21,019
Net finance receivables - credit cards		676		643		550		466		386			643		330
Net finance receivables		$      23,365		$      23,598		$      23,128		$      22,428		$      21,083			$      23,598		$      21,349
Allowance for finance receivable losses		$        2,693		$        2,710		$        2,651		$        2,571		$        2,454			$        2,710		$        2,480
Allowance ratio		11.52 %		11.48 %		11.46 %		11.46 %		11.64 %			11.48 %		11.62 %
Net finance receivables		23,365		23,598		23,128		22,428		21,083			23,598		21,349
Finance receivables serviced for our whole loan sale partners		1,232		1,141		1,191		1,229		871			1,141		882
Managed receivables		$      24,597		$      24,739		$      24,319		$      23,657		$      21,954			$      24,739		$      22,231
Average net finance receivables - personal loans		$      20,660		$      20,751		$      20,396		$      19,937		$      20,117			$      20,301		$      19,788
Average net finance receivables - auto finance		2,166		2,072		1,949		1,843		786			1,662		559
Average net finance receivables - consumer loans		22,826		22,823		22,345		21,780		20,903			21,963		20,347
Average net finance receivables - credit cards		668		599		515		430		364			477		181
Average net receivables		23,494		23,422		22,860		22,210		21,267			22,440		20,528
Average receivables serviced for our whole loan sale partners		1,196		1,174		1,218		1,195		867			1,113		852
Average managed receivables		$      24,690		$      24,596		$      24,078		$      23,405		$      22,134			$      23,553		$      21,380

Note:	Ratios may not sum due to rounding.

 

OneMain Holdings, Inc.
CONSUMER & INSURANCE KEY METRICS (UNAUDITED) (Non-GAAP)
		Quarter Ended											Fiscal Year
(unaudited, in millions)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024			2024		2023
Adjusted pretax income (non-GAAP)		$           275		$           185		$           202		$           163		$           233			$         782		$         874
Provision for finance receivable losses		456		523		512		515		431			1,981		1,721
Net charge-offs		(473)		(464)		(432)		(496)		(457)			(1,849)		(1,536)
Change in C&I allowance for finance receivable losses (non-GAAP)		(17)		59		80		19		(26)			132		185
Pretax capital generation (non-GAAP)		258		244		282		182		207			914		1,059
Capital generation, net of tax* (non-GAAP)		$           194		$           183		$           211		$           136		$           155			$         685		$         794
C&I average net receivables		$      23,494		$      23,422		$      22,860		$      22,210		$      21,267			$    22,440		$    20,528
Capital generation return on receivables  (non-GAAP)		3.3 %		3.1 %		3.7 %		2.9 %		2.9 %			3.1 %		3.9 %

Note:	Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum to fiscal year due to rounding.
*	Income taxes assume a 25% rate.

 

OneMain Holdings, Inc.
CONSUMER & INSURANCE CONSUMER LOANS METRICS (UNAUDITED)
		Quarter Ended											Fiscal Year
(unaudited, $ in millions)		Mar 31, 2025		Dec 31, 2024		Sep 30, 2024		Jun 30, 2024		Mar 31, 2024			2024		2023
Gross charge-offs		$           525		$           514		$           490		$           553		$           522			$        2,080		$        1,768
Recoveries		(85)		(76)		(78)		(75)		(77)			(307)		(258)
Net charge-offs		$           440		$           438		$           412		$           478		$           445			$        1,773		$        1,510
Gross charge-off ratio		9.34 %		8.96 %		8.72 %		9.68 %		10.05 %			9.34 %		8.69 %
Recovery ratio		(1.52 %)		(1.33 %)		(1.39 %)		(1.39 %)		(1.48 %)			(1.39 %)		(1.27 %)
Net charge-off ratio		7.83 %		7.63 %		7.33 %		8.29 %		8.58 %			7.94 %		7.42 %
Average net receivables		$      22,826		$      22,823		$      22,345		$      21,780		$      20,903			$      21,963		$      20,346
Yield		22.4 %		22.2 %		22.1 %		21.9 %		22.1 %			22.1 %		22.2 %
Origination volume		$        3,022		$        3,504		$        3,712		$        3,582		$        2,523			$      13,321		$      12,851
30+ delinquency		$        1,170		$        1,322		$        1,272		$        1,198		$        1,153			$        1,322		$        1,294
90+ delinquency		$           540		$           579		$           562		$           511		$           591			$           579		$           605
30-89 delinquency		$           630		$           743		$           710		$           687		$           562			$           743		$           689
30+ delinquency ratio		5.16 %		5.76 %		5.63 %		5.45 %		5.57 %			5.76 %		6.16 %
90+ delinquency ratio		2.38 %		2.52 %		2.49 %		2.33 %		2.86 %			2.52 %		2.88 %
30-89 delinquency ratio		2.77 %		3.24 %		3.14 %		3.13 %		2.72 %			3.24 %		3.28 %

Note:	Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I consumer loan net finance receivables. Amounts may not sum due to rounding.

Defined Terms

• Adjusted capital: adjusted tangible common equity + allowance for finance receivable losses (ALLL), net of tax
• Adjusted tangible common equity (TCE): total shareholders' equity – accumulated other comprehensive loss – goodwill – other intangible assets + junior subordinated debt
• Auto finance: financing at the point of purchase through a network of auto dealerships
• Available cash and cash equivalents: cash and cash equivalents – cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposes
• Average assets: average of monthly average assets (assets at the beginning and end of each month divided by two) in the period
• Average managed receivables: C&I average net receivables + average receivables serviced for our whole loan sale partners
• C&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) / weighted average diluted shares
• Capital generation: C&I adjusted net income – change in C&I allowance for finance receivable losses, net of tax
• Capital generation return on receivables^*: annualized capital generation / C&I average net receivables
• Consumer loans: personal loans and auto finance
• Finance receivables serviced for our whole loan sale partners: unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program
• Gross charge-off ratio^*: annualized gross charge-offs / average net receivables
• Managed receivables: C&I net finance receivables + finance receivables serviced for our whole loan sale partners + auto finance loans originated by third parties
• Net adjusted debt: long-term debt – junior subordinated debt – available cash and cash equivalents
• Net charge-off ratio^*: annualized net charge-offs / average net receivables
• Net leverage: net adjusted debt / adjusted capital
• Opex ratio: annualized C&I operating expenses / average managed receivables
• Origination volume: loans originated during the period, including those originated and sold to our whole loan sale partners that we continue to service
• Other net revenue: other revenues – insurance policy benefits and claims expense
• Personal loans: loans secured by titled collateral or unsecured and offered through our branch network, central operations, or digital platform
• Pretax capital generation: C&I pretax adjusted net income – change in C&I allowance for finance receivable losses
• Purchase volume: credit card purchase transactions + cash advances – returns
• Return on assets (ROA): annualized net income / average total assets
• Return on receivables (C&I ROR): annualized C&I adjusted net income / C&I average net receivables
• Total revenue: C&I interest income + C&I total other revenue
• Unencumbered receivables: unencumbered unpaid principal balance of consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude billed interest, fees, and closed accounts with balances

*	2Q24 and fiscal year 2024 adjusted for policy alignment associated with the Foursight acquisition.

OneMain Holdings, Inc.

Investor Contact:
Peter R. Poillon, 212-359-2432
peter.poillon@omf.com 

Media Contact:
Kelly Ogburn, 410-537-9028
kelly.ogburn@omf.com 

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SOURCE OneMain Holdings, Inc.

FAQ

What was OneMain (OMF) earnings per share in Q1 2025?

OneMain reported diluted earnings per share (EPS) of $1.78 in Q1 2025, up from $1.29 in the same quarter last year. The adjusted C&I diluted EPS was $1.72.

How much is OneMain (OMF) Q2 2025 dividend payment?

OneMain declared a quarterly dividend of $1.04 per share, payable on May 16, 2025, to shareholders of record as of May 9, 2025.

What is OneMain's (OMF) loan portfolio performance in Q1 2025?

OneMain's managed receivables grew 12% to $24.6 billion, with consumer loan originations up 20% to $3.0 billion. The 30+ days delinquency ratio improved to 5.16% from 5.57% year-over-year.

How much stock did OneMain (OMF) buyback in Q1 2025?

OneMain repurchased approximately 323,000 shares of common stock for $16 million during Q1 2025.

What was OneMain's (OMF) net income growth in Q1 2025 vs Q1 2024?

OneMain's net income increased to $213 million in Q1 2025, compared to $155 million in Q1 2024, representing a significant year-over-year growth.