BRIEF-Sallie Mae Reports Third-Quarter 2022 Financial Results

BY Reuters | AGENCY | 10/26/22 06:27 PM EDT

Oct 26 (Reuters) - Sallie Mae:

* SALLIE MAE REPORTS THIRD-QUARTER 2022 FINANCIAL RESULTS

* Q3 GAAP EARNINGS PER SHARE $0.29

* SALLIE MAE - QTRLY PRIVATE EDUCATION LOAN ORIGINATIONS INCREASE 13 PERCENT FROM YEAR-AGO QUARTER TO $2.4 BILLION

* SALLIE MAE - QTRLY NET INTEREST INCOME OF $370 MILLION, UP 3%

* SALLIE MAE - QTRLY PRIVATE EDUCATION LOAN PROVISIONS FOR CREDIT LOSSES, INCLUDING AMOUNTS FOR UNFUNDED COMMITMENTS, WAS $208 MILLION VERSUS $138 MILLION

* SALLIE MAE - SEES FULL-YEAR 2022 DILUTED NON-GAAP "CORE EARNINGS" PER COMMON SHARE OF $2.50 - $2.60

* SALLIE MAE - SEES FULL-YEAR 2022 PRIVATE EDUCATION LOAN ORIGINATIONS YEAR-OVER-YEAR GROWTH OF 9% - 11%

* SALLIE MAE - SEES FULL-YEAR 2022 TOTAL LOAN PORTFOLIO NET CHARGE-OFFS OF $325 MILLION - $345 MILLION

* SALLIE MAE - SEES FULL-YEAR 2022 NON-INTEREST EXPENSES OF $555 MILLION - $565 MILLION

* SALLIE MAE - QTRLY CORE EARNINGS PER SHARE $0.29

* Q3 EARNINGS PER SHARE VIEW $0.48 -- REFINITIV IBES DATA

* FY2022 EARNINGS PER SHARE VIEW $2.65 -- REFINITIV IBES DATA Source text for Eikon: Further company coverage:

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article