HERNDON, Va., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) today released the following statement after reaching an agreement with the Consumer Financial Protection Bureau to resolve previously disclosed litigation and investigations: This agreement puts these decade-old issues behind us. While we do not agree with the CFPB's allegations, this resolution is consistent with our go-forward activities and is an important positive milestone in our transformation of the company. Navient is no longer ...

HERNDON, Va., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) announced that its board of directors approved a 2024 third quarter dividend of $0.16 per share on the company's common stock. The third quarter 2024 dividend will be paid on Sept. 20, 2024, to shareholders of record at the close of business on Sept. 6, 2024. About Navient Navient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achie ...

HERNDON, Va., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) announced today that it had reached an agreement to sell its Healthcare Services business to CorroHealth, a leading health technology company. "This transaction is an important achievement in our initiative to explore strategic options for our Business Processing Solutions division and our strategic objectives to simplify our company, reduce our expense base, and enhance our flexibility," said Dave Yowan, president and CEO of Navient. "C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36228 Navient Corporation (Exact name of registrant as specified in its charter) Delaware 46-4054283 (State or other jurisdictio ...

Results were driven by a decline in total expenses. A solid liquidity position was another positive. However, a decrease in net interest income (NII) and other income were headwinds. NII & Expenses Fall Total other income declined 9.3% year over year to $117 million. Total expenses decreased 7.5% year over year to $185 million. Federal Education Loans: The segment generated a net income of $28 million, which declined 63.2% year over year. Consumer Lending: This segment reported a net income of $60 million, ...

Core Insights - Navient (NAVI) reported a revenue of $136 million for the quarter ended June 2024, marking a year-over-year decline of 38.5% and an EPS of $0.48 compared to $0.70 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $157.27 million, resulting in a surprise of -13.53%, while the EPS exceeded expectations with a surprise of +14.29% against a consensus estimate of $0.42 [3] Financial Metrics - Net interest margin for the Consumer Lending segment was 2.9%, slightly below the average estimate of 3% [6] - Net interest margin for the Federal Education Loan segment was 0.4%, compared to the average estimate of 0.5% [6] - Servicing revenue was reported at $18 million, exceeding the average estimate of $16.34 million [6] - Other income was $4 million, below the average estimate of $5.75 million [6] - Asset recovery and business processing revenue was $81 million, slightly below the average estimate of $81.75 million [6] - Total Non-Interest Income (Core) was $103 million, compared to the average estimate of $106.78 million [6] - Net interest income (loss) for Federal Education Loans (Core) was $33 million, below the average estimate of $47.39 million [6] - Total core other income for Consumer Lending was $3 million, below the average estimate of $4.43 million [6] - Total core other income for Business Processing was $81 million, slightly below the average estimate of $84.01 million [6] - Total core other income for Federal Education Loans was $17 million, slightly above the average estimate of $16 million [6] - Total core other income for Other was $2 million, below the average estimate of $2.25 million [6] - Net Interest Income (Core) was $136 million, below the average estimate of $153.71 million [6] Stock Performance - Shares of Navient have returned +8.7% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [5] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [5]

OVERALL RESULTS • GAAP net income of $36 million ($0.32 diluted earnings per share). | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

This Wilmington, DE-based lender's first-quarter 2024 earnings surpassed the Zacks Consensus Estimate. Results were driven by a rise in total other income and a fall in expenses. However, a decline in net interest income (NII) dented quarterly results. NAVI's activities in the to-be-reported quarter were inadequate to gain analysts' confidence. As a result, the Zacks Consensus Estimate for second-quarter earnings of 41 cents per share has been revised marginally downward in the past month. However, the figu ...

HERNDON, Va., July 10, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) will host an audio webcast to review its 2024 second quarter financial results on Wednesday, July 24, 2024, at 8:00 a.m. Eastern Time. The results are scheduled to be released the same day by 7:00 a.m. on Navient.com/investors. In addition to being available on the company's investor website, the results will be filed with the SEC on a Form 8-K available at SEC.gov. The webcast and presentation slides also will be available on Navient.co ...

About Navient Navient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, healthcare, and government. Learn more at Navient.com. Media: Paul Hartwick, 302-283-4026, paul.hartwick@navient.com HERNDON, Va., July 10, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) will host an audio webcast to revi ...