EarningsQ2 2026 Earnings Report
DE:10D Q2 2026 EPS Results
Actual EPS€0.26
Consensus EPS€0.18
Beat/MissBeat by +€0.08
One Year Ago EPS€0.18
DE:10D Q2 2026 Revenue Results
Actual Revenue€633.20M
Expected Revenue€126.52M
Beat/MissBeat by +€506.68M
YoY Revenue Growth-11.91%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
DE:10D Upcoming Earnings
Navient's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:10D Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple positive operational and strategic trends: strong originations growth (>60% YoY), improved operating leverage (18% lower operating expenses YoY), higher core EPS (core EPS $0.29; $0.25 ex-items vs $0.20 prior year), strengthened capital activity (securitizations, $500M debt issuance) and improving federal credit metrics. Offsetting these positives were notable reserve builds and accounting/portfolio changes tied to the legacy private loan book (a $23M reserve build, $528M reclassified held-for-sale and $19M allowance reallocation), modest regulatory and restructuring costs, and a slight decline in FFELP segment income. Overall, the positive momentum in growth, expense reduction and capital actions appears to outweigh the headwinds from legacy portfolio reserve adjustments and one-time expenses.Company Guidance
Core Earnings Improvement
Core EPS of $0.29 in Q2 2026 (included net $0.04 benefit from a $12M realized gain, a $3M securitization call loss and $4M regulatory/restructuring expense); core EPS excluding those items was $0.25 versus $0.20 in Q2 2025 (up ~25% year-over-year).
Strong Originations Growth
Combined originations rose more than 60% year-over-year to $815M in Q2 (refinance $735M; in-school $80M); year-to-date originations exceeded $1.5B and the company remains on pace with its 2026 origination volume outlook.
High Refinance Credit Quality
Weighted average FICO on new refinance originations was 774; roughly 60% of refinance volume came from borrowers with graduate degrees, supporting low expected credit losses on these loans.
Operating Expense Reduction and Efficiency Gains
Operating expenses were 18% lower versus Q2 2025 (total Q2 expenses $85M vs $100M a year ago); year-to-date operating expenses excluding regulatory/restructuring were $167M and management remains on pace for a full-year outlook of $350M or lower.
Improving Credit Metrics in Federal Portfolio
FFELP charge-off rates improved from 29 bps in Q1 to 18 bps in Q2; 91+ delinquency rates declined to 8.0%, 50 bps better sequentially and over 200 bps better year-over-year.
Capital Markets Activity and Liquidity
Completed in-school and refinance securitizations with attractive pricing and advance rates; issued $500M of unsecured debt while retiring ~ $500M of unsecured bonds; returned $17M to shareholders in Q2 and maintains a $100M buyback authorization with ~$75M remaining.
Accounting Change to Support Growth
Elected the fair value option for in-school loans originated after June 30, 2026, which removes CECL provision impact on future in-school originations and better aligns accounting with securitization/sale strategy.
DE:10D Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed