EarningsQ2 2026 Earnings Report
MX:SLM Q2 2026 EPS Results
Actual EPS$5.24
Consensus EPS$7.88
Beat/MissMissed by -$2.64
One Year Ago EPS$5.79
MX:SLM Q2 2026 Revenue Results
Actual Revenue$12.12B
Expected Revenue$7.40B
Beat/MissBeat by +$4.72B
YoY Revenue Growth-2.76%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeAfter Close
Conference CallThursday, July 23, 2026
MX:SLM Upcoming Earnings
SLM's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SLM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a balanced view: several operational and strategic positives — modest origination growth, improving credit metrics, strong loan modification outcomes, growing fee revenue, solid capital and liquidity, active share repurchases and progress on strategic partnerships — tempered by near‑term headwinds including lower net interest income/NIM this quarter, higher net charge‑offs concentrated in a small borrower segment, a timing hit (~$25M) from bringing post‑default recoveries in‑house, and elevated one‑time investments that increased the efficiency ratio. Management framed the credit and recovery actions as largely timing‑related and emphasized confidence in the portfolio and a path to margin and efficiency recovery as peak season volumes deploy liquidity and fee streams scale.Company Guidance
GAAP Earnings per Share
GAAP diluted EPS of $0.29 for Q2 2026.
Origination Growth
Loan originations of $716 million, up nearly 4.5% year‑over‑year, with early application and volume trends for new products at the higher end of expectations.
Improving Credit Quality Metrics
Average FICO modestly improved from 754 to 755 year‑over‑year; cosigner rates remained strong at 84%.
Loan Modification Program Success
Loan modification cohorts show payment success rates in excess of 80% over 6‑ and 12‑month periods; more than 75% of borrowers exiting modifications are consistently making payments after 3 and 6 months — performance modestly better than expectations.
Fee Revenue and Other Income Growth
Other income of $45 million (up $16 million YoY), driven by recurring program management fees from strategic partnerships and growth in servicing fee revenue; fee‑based revenue grew over 50% YoY (off a small base).
Capital Return and Share Repurchases
Completed $200 million accelerated share repurchase (9.3M shares in ASR) and repurchased ~13M shares year‑to‑date (6.5% of 2025 shares outstanding) at an average $21.95; $242 million remaining under repurchase authorization.
Solid Capital and Liquidity Positions
Liquidity of 18.6% of total assets; total risk‑based capital 13.1%; common equity Tier 1 capital 11.8%.
Strategic Partnerships and Market Opportunity
Progress with existing KKR partnership (volumes in line with expectations) and an additional partnership in advanced bilateral negotiations expected to close in Q3/Q4; PLUS reform presents a multi‑year origination opportunity estimated at $4.5B–$5B annually.
Provision and Reserve Improvements
Provision for credit losses of $126 million, down from $149 million YoY; reserve rate 5.89%, down 6 basis points YoY, reflecting disciplined underwriting and optimization of loss mitigation.
MX:SLM 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