OneMain Holdings Inc

OMF

Equity

ISIN US68268W1036 / Valor 30509506

New York Stock Exchange, Inc (2024-12-24)

USD 52.99+2.00%

OneMain Holdings Inc
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About company

OneMain Holdings Inc, through its subsidiary OneMain Financial, is a leading provider of responsible credit access to nonprime customers. The company is dedicated to empowering customers to achieve a better financial future by offering services such as debt consolidation, home and auto repair financing, medical procedure loans, and other major expense assistance. OneMain Financial aims to be the preferred partner for individuals seeking to meet critical financial needs, providing them with the necessary support to improve their financial well-being.

Summarized from source with an LLMView SourceSector: Finance

Income and Earnings

OneMain Holdings Inc. reported a pretax income of $207 million and a net income of $157 million for the third quarter of 2024. This represents a decrease compared to the prior year quarter, where pretax income was $246 million and net income was $194 million. The earnings per diluted share for Q3 2024 were $1.31, down from $1.61 in the same quarter of the previous year.

Dividends and Share Repurchase

For the third quarter of 2024, OneMain Holdings Inc. declared a quarterly dividend of $1.04 per share, which is scheduled to be paid on November 18, 2024. Additionally, the company repurchased approximately 420 thousand shares of common stock for $19 million during the quarter, as part of its ongoing share repurchase program.

Revenue and Receivables

OneMain Holdings Inc. reported total revenue of $1.5 billion for the third quarter of 2024, marking an 8% increase from $1.3 billion in the prior year quarter. Managed receivables grew to $24.3 billion as of September 30, 2024, up 11% from $21.9 billion at the same time in 2023. This growth was driven by higher average net finance receivables.

Consumer and Insurance Segment

The Consumer and Insurance segment of OneMain Holdings Inc. reported an adjusted pretax income of $202 million and an adjusted net income of $151 million for Q3 2024. These figures are down from $252 million and $189 million, respectively, in the prior year quarter. The adjusted earnings per diluted share for this segment were $1.26, compared to $1.57 in the previous year.

Outlook and Strategic Initiatives

OneMain Holdings Inc. continues to focus on strategic investments in technology, data science, and new products to drive future growth and shareholder value. The company has extended its share repurchase program to December 31, 2026, reflecting confidence in its long-term financial outlook. CEO Doug Shulman highlighted the company's strong performance in originations and revenue growth, alongside improvements in credit trends.

Summarized from source with an LLMView Source

Key figures

8.10%1Y

5.62%3Y

22.5%5Y

Performance

32.2%1Y

37.4%3Y

52.5%5Y

Volatility