Navient reports Q1 adjusted EPS $1.06, consensus 82c

Reports Q1 NII $153M vs. $152M last year. NII increased $1M due to an increase in the net interest margin primarily due to improved funding spreads. This was partially offset by the paydown of the portfolio. "Navient’s Q1 performance reflects the strong and balanced capabilities of our organization," said CEO Jack Remondi. "We continue to create long-term value for clients, shareholders and employees by growing our consumer lending and business-to-business services, effectively and efficiently managing cash flows from our legacy student-loan portfolios and reducing our risk and improving efficiency."