Onemain Hldgs Inc Stock Price, News & Analysis

OneMain Holdings reported a diluted EPS of $1.48 for 4Q 2022, down from $2.02 in the prior year. The company’s pretax income was $238 million, compared to $355 million in 4Q 2021. Full-year net income decreased to $878 million in 2022 from $1.3 billion in 2021. The company raised its quarterly dividend by 5.3% to $1.00 per share and repurchased 1.6 million shares for $57 million during the quarter. Managed receivables reached $20.8 billion, a 6% increase year-over-year. However, personal loan originations fell 9% to $3.5 billion.

OneMain Financial has announced a commitment of $50 million to support minority depository institutions (MDIs) and military veterans. The funding is divided into two equal parts, with $25 million allocated to MDIs, including Sunstate Bank in Florida and First Independence Bank in Michigan. The remaining $25 million will go to Academy Securities, an investment bank owned by disabled veterans, aimed at providing training and job placement services for veterans. OneMain's efforts are in line with its mission to improve financial well-being in underserved communities.

OneMain Holdings, Inc. (NYSE: OMF) will report its fourth-quarter 2022 earnings on February 7, 2023, before the market opens. A conference call to discuss results and outlook will follow at 9:00 a.m. Eastern that day. Interested parties can access the earnings release via OneMain’s investor relations website. The company focuses on providing nonprime customers responsible access to credit, aiming to enhance their financial well-being through personalized solutions offered both online and across its 1,400 locations in 44 states.

OneMain Holdings reported a diluted EPS of $1.52 for Q3 2022, down from $2.17 year-over-year. The company achieved net income of $188 million, a decrease from $288 million in the previous year. Despite these declines, managed receivables rose to $20.5 billion, a 7% increase year-over-year. The company declared a quarterly dividend of $0.95 per share and repurchased 1.2 million shares for $42 million during Q3. Higher net charge-offs and an increased allowance for finance receivable losses impacted earnings. Operating expenses rose 6% to $359 million as part of ongoing business investments.

OneMain Financial has launched a Borrower’s Assistance program for Hurricane Ian victims in Florida, allowing eligible customers to defer loan payments until October 31. The program covers 17 affected counties and ensures no late fees for participants. OneMain is closely monitoring other impacted areas and organizing a community relief event on October 8 in Port Charlotte. With 69 branches and nearly 170,000 customer accounts in Florida, the company is committed to supporting its clients during this crisis.

OneMain Holdings, Inc. (NYSE: OMF) will report its third quarter 2022 results on October 26, 2022, after the market closes. A conference call to discuss the results and outlook is scheduled for October 27, 2022, at 8:30 a.m. Eastern. Interested parties can access the earnings release on the OneMain investor relations website. OneMain specializes in providing credit access to nonprime customers and operates in 1,400 locations across 44 states, aiming to enhance the financial well-being of hardworking Americans.

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.