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Sallie Mae (SLM) reported second-quarter financial results showing a GAAP net income attributable to common stock of $340 million, or $1.29 per diluted share. The company saw a 16% increase in private education loan originations, totaling $616 million. Additionally, Sallie Mae repurchased $360 million of common stock and completed $2.1 billion in private education loan sales, resulting in a $240 million gain.
Positive
16% increase in private education loan originations to $616 million
GAAP net income of $340 million or $1.29 per diluted share
Repurchased $360 million of common stock
$240 million gain from $2.1 billion in loan sales
Negative
None.
Second-Quarter GAAP Net Income Attributable to Common Stock of $340 Million, or $1.29 Per Diluted Share
Private Education Loan Originations Increase 16 Percent from Year-Ago Quarter to $616 Million
Repurchased $360 Million of Common Stock in the Second Quarter of 2022
Completed $2.1 Billion in Private Education Loan Sales During the Quarter Resulting in a $240 Million Gain
NEWARK, Del.--(BUSINESS WIRE)--
Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released second-quarter 2022 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, July 28, 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/thrzxufd.
Participants may also register for the earnings conference call at: https://register.vevent.com/register/BIec0ab56d89cf40c7a818b322202b087a. 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.
