SLM CORP PREF SHARE SLMA V0 P12/31/49 B | 8-K: FY2026 Q1 Revenue: USD 559.99 M

Revenue: As of FY2026 Q1, the actual value is USD 559.99 M.

EPS: As of FY2026 Q1, the actual value is USD 1.54.

EBIT: As of FY2026 Q1, the actual value is USD 24.94 M.

First Quarter 2026 Financial Results for Sallie Mae

Operational Metrics

• Net Income: Sallie Mae reported a net income of $308 million for Q1 2026, an increase from $305 million in Q1 2025. Net income attributable to common stock was $304 million, up from $301 million in the prior year quarter.
• Net Interest Income: Net interest income remained consistent at $375 million for both Q1 2026 and Q1 2025.
• Provisions for Credit Losses: Provisions for credit losses were - $11 million in Q1 2026, compared to $23 million in Q1 2025.
• Non-Interest Expenses: Total non-interest expenses were $171 million in Q1 2026, an increase from $155 million in Q1 2025.
• Income Before Income Tax Expense: Income before income tax expense was $400 million in Q1 2026, a slight decrease from $403 million in Q1 2025.

Key Performance Metrics

• Private Education Loan Originations: Originations increased by 5% from the year-ago quarter.
• Average Loans Outstanding, Net: Average loans outstanding, net, totaled $23.3 billion during the quarter.
• Net Charge-Offs: Net charge-offs were $89 million, consistent with expectations and full-year guidance.
• Delinquencies: Delinquencies as a percentage of loans in repayment were 3.98% for Q1 2026, up from 3.58% for Q1 2025.
• Loans in Hardship Forbearance: Loans in hardship forbearance were 0.99% for Q1 2026, compared with 0.92% for Q1 2025.
• Net Interest Margin: The net interest margin was 5.29% in Q1 2026, slightly up from 5.27% in Q1 2025.
• Cost of Funds: The cost of funds was 4.13% in Q1 2026, a decrease from 4.23% in Q1 2025.
• Efficiency Ratio: The efficiency ratio was 30.6% in Q1 2026, compared to 26.6% in Q1 2025.
• Return on Assets (ROA): ROA remained at 4.2% for both Q1 2026 and Q1 2025.
• Return on Common Equity (ROCE): ROCE was 56.4% in Q1 2026, down from 60.1% in Q1 2025.

Loan Sales and Capital Deployment

• Private Education Loan Sales: Private Education Loan sales totaled $3,332 million in Q1 2026, generating a $146 million gain on sale.
• Share Repurchases: The company repurchased 12.0 million shares of common stock for $259 million during Q1 2026.
• Accelerated Share Repurchase (ASR): A $200 million ASR was entered into in March 2026, with an initial delivery of 8.4 million shares.
• Share Repurchase Program Capacity: As of March 31, 2026, $242 million of capacity remained under the 2026 Share Repurchase Program.
• Quarterly Dividend: A quarterly dividend of $0.13 per share was paid.

Outlook / Guidance for Full-Year 2026

Sallie Mae raised its full-year 2026 diluted earnings per common share guidance to $3.10 - $3.20. The company anticipates Private Education Loan originations to grow by 12% - 14% year-over-year. Full-year net charge-offs are projected to be between $345 million and $385 million, while non-interest expenses are expected to range from $750 million to $780 million.