OneMain (US:OMF)2023-04-25 18:12Financial Performance - The company reported $2.8 billion in originations with a conservative credit posture[9] - Managed receivables reached $20.6 billion, a 6% year-over-year increase[9] - Net interest margin was 17.4%, with a loan portfolio yield of 22.3%[9] - The company declared a dividend of $1.00 per share, resulting in an approximate 10% dividend yield[9] - Net income for the quarter was $179 million[9] Credit Quality - Loan net charge-offs were 7.7%[9] - 30-89 day loan delinquency rate was 2.58%[9] - Credit card receivables totaled $122 million, covering over 160,000 cards[9] Liquidity and Funding - The company has $7.3 billion in undrawn bank facilities and $8.5 billion in unencumbered loans[9] - A $750 million auto ABS issuance was completed with a 5.6% interest rate for a 3-year revolving facility[9] Operational Efficiency - The operating expense ratio was 7.1%, a decrease of 10 basis points year-over-year[9] - Net leverage was 5.4x, down 0.1x quarter-over-quarter[9] Portfolio and Originations - First quarter originations were $2.8 billion[9] - Post tightening originations now represent 38% of portfolio[61]