OneMain (US:OMF)2021-04-27 12:39Financial Performance Highlights - OneMain Financial's 1Q21 net income was $413 million, a 1,191% increase year-over-year[21] - Consumer & Insurance (C&I) adjusted net income was $455 million, up 911% year-over-year[21] - Strong capital generation of $299 million in 1Q21, a 35% increase year-over-year[4,20] - Net charge-offs decreased to 47% in 1Q21, down 179 bps year-over-year[4,24] Capital and Liquidity - Increased minimum dividend by 56% to $070 per share in 2Q21[4,20] - Commenced a $150 million share repurchase program[4,20] - Liquidity runway in excess of 24 months as of March 31, 2021[4,20] Portfolio and Receivables - Ending net receivables (ENR) of $176 billion, down 4% year-over-year, impacted by mid-March stimulus[24] - Portfolio secured mix of 52%, flat year-over-year[24] - Yield of 240%, down 3 bps year-over-year[24] Strategic Initiatives - Accelerated omni-channel distribution with 46% of loans closed digitally in 1Q21[4,20] - Credit card launch on track for 2H21, building infrastructure to support a multi-billion-dollar product line[4,20] - Acquired Trim, a customer-focused financial wellness fintech, with over 600K linked bank accounts and ~1 billion customer transactions[32,34]