Welcome to our dedicated page for OneMain Holdings news (Ticker: OMF), a resource for investors and traders seeking the latest updates and insights on OneMain Holdings stock.
OneMain Holdings, Inc. (NYSE: OMF) is a leading financial services company specializing in nonprime consumer finance. With roots dating back to 1912, OneMain has been helping individuals achieve their financial goals for over a century. The company provides personalized loan solutions through its extensive network of branches across 44 states and online platforms, offering fixed rates, fixed payments, and clear terms. OneMain's core business includes personal loans, credit and noncredit insurance products, loan servicing, and strategic acquisitions.
OneMain's business model is designed to support nonprime consumers by providing responsible access to credit. The company prides itself on its disciplined growth strategies and resilient business model, which deliver strong returns across economic cycles. OneMain's approach involves leveraging digital capabilities, expanding product offerings, and enhancing customer experiences both online and in its 1,400 physical locations.
The company's recent achievements highlight its commitment to growth and customer service. In December 2023, OneMain hosted its Investor Day where senior executives discussed the company's strength, strategic expansions, and market opportunities. This includes significant advancements in digital services and new product channels. Moreover, OneMain reported substantial financial results for the fourth quarter of 2023, with a pretax income of $220 million and a net income of $165 million.
OneMain's financial condition remains robust, supported by strong capital generation and liquidity resources. As of March 31, 2024, the company had $831 million in cash and cash equivalents, with significant undrawn capacity under its credit facilities. The company's commitment to shareholder value is reflected in its regular dividend payments and stock repurchase programs.
Key personnel changes have strengthened OneMain's leadership team. Jenny Osterhout has been appointed as CFO, and Micah Conrad as COO, effective March 31, 2024. Their extensive experience and strategic vision are expected to drive further growth and operational efficiency.
Through strategic acquisitions, OneMain continues to diversify its offerings. The recent acquisition of Foursight Capital LLC, an automobile finance company, marks OneMain's entry into the auto lending market, expanding its product portfolio and strengthening its market position.
For more information about OneMain Holdings, Inc., please visit their official website at www.OneMainFinancial.com.
OneMain Financial has enhanced its financial education program by introducing a new course, Build: Credit Fundamentals, aimed at high school students. Developed with EVERFI, this initiative aims to equip students with essential knowledge on building and managing credit, which is crucial for their financial health. The program, which has reached over 66,000 students in more than 1,000 schools, will receive $300,000 in scholarships over four years. This effort supports the growing demand for financial education, with many states now requiring such courses for graduation.
OneMain Holdings (NYSE: OMF) announced that Chairman and CEO Doug Shulman, along with CFO Micah Conrad, will present at the Barclays Global Financial Services Conference at 9:45 a.m. Eastern on September 12. The event highlights OneMain's commitment to providing nonprime customers with responsible credit access. Investors and the public can listen to the live audio webcast via the Investor Relations section of OneMain's website.
OneMain Financial has launched a Borrower’s Assistance program for customers in Kentucky affected by recent flooding, effective from August 2 to September 2. The program allows eligible borrowers in 13 counties to defer loan payments without incurring late fees or returned payment fees. A community relief event will be held on August 13 in Hazard, KY, to distribute supplies. OneMain operates 35 branches in Kentucky, servicing nearly 54,000 customer accounts. The initiative underscores the company's commitment to supporting local communities during crises.
OneMain Holdings reported a 2Q 2022 net income of $209 million, down from $350 million year-over-year, leading to diluted EPS of $1.68 compared to $2.60. Adjusted pretax income for its Consumer and Insurance segment also declined, totaling $311 million. Managed receivables reached $20.1 billion, up 10% year-over-year, while personal loan originations rose 2% to $3.9 billion. The company declared a quarterly dividend of $0.95 per share and repurchased 2.1 million shares for $94 million during the quarter. The provision for finance receivable losses significantly increased by $208 million compared to the prior year.
OneMain Holdings, Inc. (NYSE: OMF) will report its second quarter 2022 earnings on July 27, 2022, after market close. The earnings release will be available on its investor relations website. A conference call to discuss the results and outlook is scheduled for July 28, 2022, at 8:30 a.m. Eastern, with public access available via phone and webcast. OneMain is focused on providing responsible credit access to nonprime customers and operates 1,400 locations across 44 states, emphasizing community impact and financial well-being.
OneMain Holdings, Inc. (NYSE: OMF) has successfully closed its second Social Bond issuance, totaling
OneMain Holdings reported a 1Q 2022 net income of $301 million, down from $413 million in the prior year. Diluted EPS fell to $2.36 from $3.06 year-over-year. The company declared a quarterly dividend of $0.95 per share and repurchased 2.3 million shares for $110 million. Originations rose by 30% to $3.0 billion, while managed receivables increased to $19.5 billion, an 11% growth. However, the provision for finance receivable losses soared by $240 million, reflecting a normalizing credit environment. Interest income rose 3%, but the yield dropped to 23.11%. A conference call is scheduled for April 29, 2022.
OneMain Holdings, Inc. (NYSE: OMF) has announced plans to report its first quarter 2022 results on April 28, 2022, after market close. The earnings release will be accessible on their investor relations website. A conference call to discuss the results and outlook is scheduled for April 29, 2022, at 8:30 a.m. Eastern, available to the public via a toll-free number or a live audio webcast. OneMain focuses on providing nonprime customers access to responsible credit solutions, with over 1,400 locations in 44 states.
OneMain Financial was awarded the “Social Project Bond of the Year” by Environmental Finance for its $750 million Social Bond issued in June 2021. Recognized by over 40 investors and experts, this bond aims to finance loans in credit-underserved areas of the U.S., focusing on women and minority borrowers. CFO Micah Conrad highlighted the bond issuance as an extension of their commitment to providing responsible credit access for nonprime customers. OneMain continues to lead in social finance with its new Social ABS Framework.
OneMain Holdings (NYSE: OMF) announced that Chairman and CEO Doug Shulman and CFO Micah Conrad will present at the Credit Suisse 23rd Annual Financial Services Forum. This event will take place at 12:10 p.m. Eastern on Thursday, February 17. The public can access the live audio webcast via the Investor Relations section of OneMain's website.
OneMain Financial specializes in providing nonprime customers with responsible credit access and operates in 1,400 locations across 44 states, focusing on enhancing financial well-being for hardworking Americans.
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