Quarterly ResultOct 22, 2026, 04:36 PM
Sallie Mae Q3 Net Loss $0.19/Share; Originations Up 15%
AI Summary
SLM Corporation (Sallie Mae) reported its third quarter 2026 financial results, including a GAAP net loss per common share of $0.19. The company saw a significant 15% increase in Private Education Loan originations to $3.4 billion, driven by strong graduate loan growth. However, net charge-offs rose due to specific debt resolution practices, and non-interest expenses increased to support peak season activities. Sallie Mae also updated its full-year 2026 guidance, lowering its earnings per share forecast while increasing its net charge-off expectation.
Key Highlights
- Sallie Mae reported a Q3 GAAP net loss per common share of $0.19, a decrease from $0.63 in the prior year quarter.
- Private Education Loan originations grew 15% year-over-year to $3.4 billion, with Graduate Loan originations up 119%.
- Net charge-offs increased to $90 million, primarily due to third-party debt resolution practices.
- Non-Interest Expenses rose 22% year-over-year to $221 million, attributed to peak season capture following PLUS reform.
- The company repurchased 5.1 million shares for $132.2 million in Q3 2026.
- Full-year 2026 diluted EPS guidance was updated to $1.95-$2.05 from $3.10-$3.20.
- Full-year 2026 net charge-off guidance was updated to $400-$420 million from $365-$385 million.
Price Impact
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