trending Market Intelligence /marketintelligence/en/news-insights/trending/-Ty397KqcSVzwJ2RS4IVPw2 content esgSubNav
In This List

OneMain's Q2 adjusted net income rises YOY on increased net finance receivables

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Investment Banking Essentials Newsletter April Edition - 2022

Blog

Banking Essentials Newsletter April Edition - 2022


OneMain's Q2 adjusted net income rises YOY on increased net finance receivables

OneMain Holdings Inc. posted net income attributable to the company of $7 million, or 5 cents per share, for the second quarter, a decrease from $42 million, or 30 cents per share, in the same period of the prior year.

Net income for the quarter included a charge of about $106 million related to Fortress Investment Group LLC's sale of its stake in the company to an investor group led by Apollo Global Management LLC.

Consumer and insurance adjusted net income was $160 million, which was up from $110 million in the prior-year period. Consumer and insurance adjusted EPS for the quarter was $1.18, compared with 81 cents a year earlier.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.14.

Net interest income after provision for finance receivable losses rose year over year to $425 million from $333 million. Net finance receivables were $15.51 billion as of June 30, compared with $14.05 billion a year ago.