OneMain Holdings, Inc. ( (OMF) ) has released its Q4 earnings. Here is a breakdown of the information OneMain Holdings, Inc. presented to its investors.
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OneMain Holdings, Inc. is a prominent financial services company, specializing in providing nonprime consumers with access to credit across 47 states in the U.S., both online and through its extensive network of branches.
OneMain Holdings recently announced its financial results for the fourth quarter of 2024, detailing a range of performance metrics that reflect both challenges and growth opportunities. The company reported a diluted earnings per share (EPS) of $1.05, down from $1.38 in the same quarter of the previous year, alongside a declared quarterly dividend of $1.04 per share.
Key financial highlights for the quarter include a pretax income of $164 million, which decreased from $220 million year-over-year, and managed receivables reaching $24.7 billion, marking an 11% increase from the previous year. The company also saw a growth in consumer loan originations, totaling $3.5 billion, up 16% from the prior year. Despite these gains, net income for the full year 2024 fell to $509 million, compared to $641 million in 2023, reflecting ongoing challenges in the financial landscape.
OneMain’s management remains optimistic about the company’s future, citing positive trends in credit and origination as pivotal for driving profitable growth. The company is positioned for enhanced profitability in 2025, supported by its focus on maximizing shareholder value and leveraging improvements in credit trends.
Overall, OneMain Holdings is poised to capitalize on its strategic initiatives as it navigates the complexities of the financial market, aiming to sustain its momentum into the coming years.
