Navient reports Q1 core EPS 25c, consensus 20c

GAAP and Core Earnings results included a reduction to pre-tax income of $4M related to regulatory and restructuring expenses, Navient (NAVI) said. “We delivered strong performance during the first quarter,” said David Yowan, president and CEO, Navient. “Our results demonstrate our capacity to double refi loan origination volume, generate strong revenue and cash flows from our legacy assets, and reduce operating expenses. We invested for growth while also distributing capital to shareholders. The sale of our Government Services business accelerates our ambitious expense reduction timeline.”