Sallie Mae Reports Fourth-Quarter and Full-Year 2021 Financial Results

Rhea-AI Summary

Sallie Mae (Nasdaq: SLM) reported fourth-quarter GAAP net income of $305 Million or $1.04 per diluted share, matching full-year results of $1.2 Billion or $3.61 per diluted share. Non-GAAP "Core Earnings" also aligned at $306 Million for the quarter and $1.2 Billion for the year. Additionally, the Board approved a new $1.25 Billion share repurchase program and announced an acquisition of Nitro College, enhancing its digital marketing capabilities.

Positive

• Fourth-quarter GAAP net income of $305 Million ($1.04 per diluted share).
• Fourth-quarter Non-GAAP net income of $306 Million ($1.05 per diluted share).
• Full-year 2021 GAAP net income totalled $1.2 Billion ($3.61 per diluted share).
• New $1.25 Billion share repurchase program approved.
• Acquired Nitro College to expand digital marketing and education services.

Negative

• None.

Fourth-Quarter GAAP Net Income Attributable to Common Stock of $305 Million, $1.04 Per Diluted Share; Full-Year 2021 GAAP Net Income Attributable to Common Stock of $1.2 Billion, $3.61 Per Diluted Share

Fourth-Quarter Non-GAAP “Core Earnings” Net Income Attributable to Common Stock of $306 Million, $1.05 Per Diluted Share; Full-Year 2021 Non-GAAP “Core Earnings” Net Income Attributable to Common Stock of $1.2 Billion, $3.67 Per Diluted Share

Board of Directors Approves New $1.25 Billion Share Repurchase Program

Enters Agreement to Acquire Nitro College, a Delaware-Based Digital Marketing and Education Solutions Company

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released fourth-quarter and full-year 2021 financial results. Highlights of those results are included in the attached supplement. Complete financial results are available at www.SallieMae.com/investors.

Sallie Mae will host an earnings conference call tomorrow, Jan. 27, 2022, at 8 a.m. ET. Executives will be on hand to discuss various highlights of the quarter and to answer questions related to Sallie Mae’s performance. A live audio webcast of the conference call and presentation slides may be accessed at www.SallieMae.com/investors and the hosting website at: https://edge.media-server.com/mmc/p/vvw43zyp

Participants may also register for the earnings conference call at: http://www.directeventreg.com/registration/event/9479532. Once registration is completed, participants will be provided a dial-in number with a personalized conference code to access the call. Please dial in 15 minutes prior to the start time.

A replay of the webcast will be available via the company’s investor website approximately two hours after the call’s conclusion.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Category: Corporate and Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20220126005951/en/

Media

Rick Castellano, 302-451-2541, rick.castellano@SallieMae.com

Investors

Brian Cronin, 302-451-0304, brian.cronin@SallieMae.com

Source: Sallie Mae

FAQ

What were Sallie Mae's fourth-quarter earnings for 2021?

Sallie Mae reported fourth-quarter GAAP net income of $305 Million or $1.04 per diluted share.

What is the full-year 2021 revenue for Sallie Mae?

For the full year 2021, Sallie Mae reported GAAP net income of $1.2 Billion or $3.61 per diluted share.

Has Sallie Mae announced any new shareholder initiatives?

Yes, Sallie Mae's Board approved a new $1.25 Billion share repurchase program.

What acquisition did Sallie Mae announce recently?

Sallie Mae announced the acquisition of Nitro College, a Delaware-based digital marketing and education solutions company.