OneMain Q3 revenue rises 7% on loan growth
OMF•OneMain Holdings’ third-quarter revenue rose 7% year over year, driven by loan originations and growth in managed receivables. Diluted EPS fell to $1.60 from $1.67, net income was $185 million, and the company repurchased $34 million in shares.
1. Quarterly results
OneMain Holdings reported third-quarter revenue growth of 7% year over year, citing higher consumer loan originations and growth in managed receivables. Diluted EPS declined to $1.60 from $1.67 a year earlier; net income was $185 million and net interest income was $1.15 billion.
2. Expenses and repurchases
The company said higher operating expenses reflected receivable growth and strategic investments. It repurchased $34 million in shares during the quarter and did not provide specific financial guidance in the press release.
