Navient reports Q1 core EPS 20c, consensus 16c

Reports Q1 provision for loan losses $18M vs. $43M last year; and Net charge-offs $72M vs. $87M last year. “Our Q1 results reflect strong momentum in high-quality loan growth, with originations more than 60% higher than the year ago period,” said David Yowan, President and CEO of Navient (NAVI). “The successful completion of our multi-year initiatives creates a foundation of a more strategically focused, flexible and efficient organization to support future growth. Our planned CEO leadership transition is underway and provides strategic continuity.”