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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 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.
OneMain Financial has launched a new national credit education program for high school students called Credit Worthy, supported by a
OneMain Holdings, Inc. (NYSE: OMF) reported a 4Q 2021 net income of $262 million, down from $359 million in the prior year, with diluted EPS decreasing to $2.02 from $2.67. For the full year, net income rose to $1.3 billion and diluted EPS reached $9.87. The company raised its quarterly dividend by 36% to $0.95 per share and initiated a new $1.0 billion share repurchase program. Managed receivables at the end of Q4 totaled $19.6 billion, with a net charge-off ratio of 4.24%. The company emphasizes ongoing growth and strategic initiatives.
OneMain Financial announced the election of Toos N. Daruvala to its Board of Directors, effective February 14. Daruvala, a Senior Partner Emeritus at McKinsey & Company, brings extensive experience in financial services and analytics. His previous roles include leading various practices at McKinsey and serving as co-CEO of MIO Partners from 2016 to 2021. Doug Shulman, Chairman and CEO, expressed confidence that Daruvala's expertise will significantly benefit the company and its shareholders in improving financial well-being for customers.
OneMain Holdings, Inc. (NYSE: OMF) will report its fourth quarter 2021 results on February 2, 2022, after market close. The earnings release will be accessible on the company's investor relations website. A conference call to discuss the results will take place on February 3, 2022, at 8:30 a.m. Eastern, open to the public via phone and live audio webcast. OneMain is a leader in providing responsible credit access to nonprime customers through personalized solutions across 1,400 locations in 44 states.
OneMain Financial, the largest nonprime installment lender in the U.S., launched a Borrower’s Assistance program on Dec. 16 to aid customers in Kentucky affected by recent tornadoes. The program will run until Jan. 17, offering options like deferring loan payments without added fees for those eligible. The company also donated $15,000 to Feeding America’s Tornado Relief Fund and is conducting collection drives for necessities. With 36 branches in Kentucky, OneMain serves over 55,000 customers in the state, emphasizing its commitment to community support.
OneMain Holdings has increased its share repurchase authorization from
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