Navient reports Q4 EPS 58c, consensus 48c
Net income was $72M, or 28c diluted earnings per common share, compared with net loss of $84M or 32c diluted loss per common share, for the year-ago period.The primary contributors to the increase in net income are as follows:Net interest income decreased by $59 million, primarily as a result of the natural paydown of the education loan portfolio."This year's results reflect successful and disciplined management across our businesses as we've continued to deliver private education refinance loan growth, lower loan charge-offs, increased revenue in our business processing segment, new strategies that yielded reduced financing costs, and lower adjusted expenses across the company," said Jack Remondi, president and CEO. "I'm proud of our performance and momentum. We also celebrate the achievements of more than 565,000 student loan borrowers who successfully paid off their loans in 2018."