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- **Revenue Growth**: Q3 revenue up 9% YoY to $1.6B, driven by 5% originations growth.
- **Credit Improvement**: Net charge-offs down 51bps YoY to 7.0%, delinquency rate stable at 5.41%.
- **Funding Strength**: Issued $1.6B bonds at 5.2% interest expense, extending debt maturity.
- **Share Buybacks**: $1B repurchase program through 2028, ($32M executed Q3).
- **Capital Gen**: Targeting $12.50/shr capital generation by 2028, excluding ILC charter benefits.


**【CEO Opening Remarks】**
- Q3 2025 revenue grew 9% YoY to $1.6 billion, driven by 5% originations growth and 6% managed receivables expansion.
- Capital generation reached $272 million (+29% YoY), with C&I adjusted EPS of $1.90 (+51% YoY).
- Credit performance improved: 30+ delinquency rate of 5.41% (-16bps YoY), net charge-offs of 7.0% (-51bps YoY).
- Strategic initiatives: expanded credit card portfolio (1 million customers), auto finance receivables up $100 million QoQ, and $1.6 billion unsecured bond issuance.

**【CFO Financial Commentary】**
- GAAP net income of $199 million ($1.67 EPS) vs. $153 million ($1.31 EPS) YoY.
- Operating expenses ratio improved to 6.6%, with strong cost control despite 8% YoY OpEx growth.
- Loan loss ratio stable at 11.5%, with credit card net charge-offs improving 288bps QoQ to 16.7%.
- Full year 2025 guidance: managed receivables growth 6-8% (vs. prior 5-8%), total revenue +9%.

**【Q&A Highlights】**
- **Credit Health**: CEO notes nonprime consumer stability, with net disposable income and unemployment claims stable. Auto portfolio performing in line with expectations.
- **Funding Strategy**: CFO highlights $1.6B bond issuance at 5.2% interest expense ratio, extending debt maturity profile.
- **Buybacks**: $1B share repurchase program through 2028, with $32M executed Q3 and $1.3B YTD.
- **ILC Charter**: CEO sees potential to expand deposit funding and lower-end prime lending if approved, but not critical to current strategy.
- **M&A**: CEO open to tuck-in acquisitions that accelerate growth in cards/auto, but maintains disciplined approach.


OneMain Holdings, Inc. (OMF) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

OMF

OMF fundamentals

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