OneMain Q3 Profit Rises, Beats Estimates

(RTTNews) - OneMain Holdings, Inc. (OMF) reported Wednesday that its third-quarter net income was $194 million, compared to $185 million last year. Earnings per share were $1.61, higher than $1.49 in the prior year quarter.

On average, 14 analysts polled by Thomson Reuters expected earnings of $1.49 per share for the quarter. Analysts' estimates typically exclude special items.

Interest income in the third quarter of 2023 was $1.17 billion, up 4 percent from $1.12 billion in the prior year, reflecting higher average net finance receivables, offset by a lower portfolio yield.

Net interest income was $900 million, up from $895 million a year ago.

Further, OneMain declared a quarterly dividend of $1.00 per share, payable on November 10, to record holders of the Company's common stock as of the close of business on November 6.

In pre-market activity on the NYSE, the shares were trading at $37.34, up 1.85 percent.

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