Financial Data and Key Metrics Changes - In Q1 2024, the company reported GAAP EPS of $0.64 and core EPS of $0.47, which included a $0.16 reduction due to significant items [23][35] - The net interest margin (NIM) for the FFELP segment was 55 basis points, reflecting elevated prepayment levels [26][35] - The allowance for loan loss for the entire education loan portfolio was $961 million at the end of Q1 2024 [33] Business Line Data and Key Metrics Changes - The Consumer Lending segment's NIM was 299 basis points, with originations growing over 50% to $259 million compared to $168 million a year ago [38] - The Business Processing segment's total revenue increased by $5 million to $77 million, with an EBITDA margin of 11% compared to 7% a year ago [40] Market Data and Key Metrics Changes - The company experienced FFELP prepayments of $1.6 billion in Q1 2024, compared to $700 million a year ago [28] - Greater than 90-day delinquency rates improved to 6.6% from 7.9% year-over-year [25] Company Strategy and Development Direction - The company is implementing three strategic actions: adopting a variable cost outsourced servicing model, exploring strategic options for the business processing division, and streamlining shared services [3][12] - The company expects to finalize plans and continue implementation of these strategic actions throughout 2024, aiming for a simpler and more focused company by the end of 2025 [17][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing necessary steps to achieve expense reductions and improve cash flows from loan portfolios [4][19] - The company anticipates that elevated prepayment levels will continue to impact NIM, projecting it to remain in the mid-50s if prepayment levels persist [31] Other Important Information - The company reduced its share count by 2% through the repurchase of 2.6 million shares, returning $61 million to shareholders through share repurchases and dividends [34] - The strategic actions are expected to eliminate approximately $400 million of operating expenses in 2023 [16] Q&A Session Summary Question: Updated guidance on NIM expectations - Management indicated that the primary driver for the updated guidance is the elevated prepayment levels, expecting NIM to remain stable in the mid-50s for the remainder of the year [48] Question: Recent developments related to CFPB matters - Management confirmed a $12 million accrual related to ongoing discussions with the CFPB, reflecting developments in those discussions [50] Question: Impact on consumer lending NIM - Management confirmed that the consumer lending NIM guidance remains unchanged and is expected to hold in the low 300s throughout the year [56]

Navient (NAVI) reported $163 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 35.6%. EPS of $0.63 for the same period compares to $1.06 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $188.04 million, representing a surprise of -13.32%. The company delivered an EPS surprise of +8.62%, with the consensus EPS estimate being $0.58.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

1Q 2024 Earnings Impacts to EPS Outlook Increase in Accrual for CFPB Matter Lower FFELP NIM, Primarily Driven by Prepayment Operating Improvement, net 1 1 Operating Changes • Other operating income and operating expenses were better than outlook - Expect acceleration of shared service and corporate footprint expense reductions as outsourcing and BPS transactions are executed Confidential and proprietary information © 2024 Navient Solutions, LLC. All rights reserved. 12 - The negative provision for loan loss ...

Navient Corporation (NAVI) has reported first-quarter 2024 adjusted earnings per share (excluding regulatory-related and restructuring expenses) of 63 cents, surpassing the Zacks Consensus Estimate of 58 cents. It reported 86 cents in the prior-year quarter.Results were driven by a rise in total other income and a fall in expenses. However, a decline in net interest income (NII) has affected the results.Navient’s GAAP net income was $73 million. It recorded a net income of $111 million in the prior-year qua ...

Exhibit 99.2 NAVIENT REPORTS FIRST-QUARTER 2024 FINANCIAL RESULTS HERNDON, Va., April 24, 2024 — Navient (Nasdaq: NAVI) today released its first-quarter 2024 financial results. OVERALL RESULTS • GAAP net income of $73 million ($0.64 diluted earnings per share). • Core Earnings(1) of $54 million ($0.47 diluted earnings per share). SIGNIFICANT ITEMS • GAAP and Core Earnings results included a net reduction to pre-tax income of $23 million ($0.16 diluted loss per share) comprised of the following items: ○ $14 ...

Navient Corporation (NAVI) is scheduled to report first-quarter 2024 results on Apr 24, before market open. NAVI’s quarterly revenues and earnings are anticipated to have declined from the year-ago reported level.This Wilmington, DE-based lender’s fourth-quarter 2023 earnings missed the Zacks Consensus Estimate. Results were adversely impacted by a fall in total other income and core net interest income (NII). Further, a rise in expenses acted as a headwind.NAVI has a mixed earnings surprise history. Navien ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) Commission file number 001-36228 Navient Corporation (Exact Name of Registrant as Specified in Its Charter) | Delaware | 46-4054283 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Employer | | Incorporation or Organization) | Identification No.) | | 13865 Sunrise Valley Drive, Herndon, Virginia 20171 | (703) 810-3000 | | (Address of Principal Executive Offices) Securities registered pursuant to Section 1 ...

Navient Corporation. (NASDAQ:NAVI) Q4 2023 Earnings Conference Call January 31, 2024 8:00 AM ET Company Participants Jen Earyes - Vice President, Investor Relations David Yowan - President and Chief Executive Officer Edward Bramson - Vice Chair of the Board of Directors Joe Fisher - Executive Vice President and Chief Financial Officer Conference Call Participants Mark DeVries - Deutsche Bank Arren Cyganovich - Citi Moshe Orenbuch - TD Cowen William Ryan - Seaport Research Partners Sanjay Sakhrani - KBW John ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36228 Navient Corporation (Exact name of registrant as specified in its charter) Delaware 46-4054283 (State or other jurisd ...

Financial Data and Key Metrics Changes - Core earnings for the quarter were $0.47 per share, while excluding significant items, core earnings were $0.84 per share [29] - GAAP EPS for the third quarter was $0.65, with significant items reducing earnings by $58 million or $0.37 [36] - The adjusted tangible equity ratio increased to 8.7%, up from 7.8% a year ago [55] Business Line Data and Key Metrics Changes - In-school loan originations totaled $204 million for the quarter, bringing the year-to-date total to $292 million, flat compared to last year [32] - Graduate loan volume decreased due to a smaller difference in federal versus private loan rates, impacting overall origination volume [33] - The consumer lending segment saw a slowdown in prepayment speeds, with charge-off rates improving to 1.66% from 2.01% year-over-year [39] Market Data and Key Metrics Changes - Delinquencies in the FFELP portfolio declined to 16.8% from 18.6% year-over-year, while net charge-offs increased to 19 basis points [38] - The business processing segment's revenue increased by $6 million to $85 million, with a 33% increase in revenue from traditional services [41] Company Strategy and Development Direction - The company is focused on reducing capital intensity in its in-school loan origination strategy while maintaining high credit quality [49] - There is an ongoing comprehensive review of business strategies to identify ways to enhance shareholder value [46][48] - The company aims to grow steadily and sustainably in the in-school market while evaluating capital efficiency [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of their case regarding the CFPB litigation, while remaining open to a resolution [29][61] - The company has not yet seen significant changes in repayment patterns on loans held, despite the resumption of payments on federally-owned loans [30] - Management indicated that the current interest rate environment is impacting borrower activity and origination volumes [5][9] Other Important Information - The company accrued $45 million related to the CFPB litigation, reflecting ongoing developments in the case [29] - The FFELP NIM was reported at 152 basis points, benefiting from revised estimates, while the net interest margin adjusted for this was 107 basis points [38][52] Q&A Session All Questions and Answers Question: Can you provide more details on the review process and expected outcomes? - Management indicated that the review is comprehensive and ongoing, with initial actions already taken to improve shareholder value [58][60] Question: What does the recent accrual related to the CFPB case signify? - The accrual reflects developments in the case, and management remains confident in their position while being open to a settlement [61] Question: How should we interpret the slowdown in in-school originations? - Management characterized the slowdown as a pause in capital commitment rather than a withdrawal from the market, emphasizing a focus on sustainable growth [71][72]