- Navient Corp (NASDAQ:NAVI) reported second-quarter adjusted core earnings EPS of $0.92, beating the consensus of $0.79.
- Q2 Net interest income was $321 million (-0.3% year-over-year); and Other Income totaled $134 million (-23.9% Y/Y).
- Federal education Loan Q2 net income was $110 million, compared to $113 million a year ago. FFELP net interest margin was 1.11% vs. 0.97% a year ago.
- The Consumer Lending segment’s net income was $71 million, compared to $6 million. Originated $420 million of Private Education Loans compared to $1.3 billion.
- Business Processing segment revenue totaled $87 million (-33.1% Y/Y), and EBITDA margin declined to 16% from 30% in 2Q21. Net income was $10 million compared to $29 million a year ago.
- Navient repurchased 6.9 million shares during the quarter for $105 million.
- The adjusted tangible equity ratio was 7.5%.
- Price Action: NAVI shares are trading higher by 3% at $15.80 during the post-market session on Tuesday.
Seelos Therapeutics Released A Letter To Its Stockholders From Chairman And CEO Raj Mehra
Dear Seelos Stockholders,I am writing to you now at an important time in our Company's history to provide updates on our lead programs, an update on our potential partnering and collaboration process as well as the
