Navient Q2 Earnings Miss Estimates, Seeks To Maximize Cash Flows From Loan Portfolios
Portfolio Pulse from Nabaparna Bhattacharya
Navient Corporation reported Q2 adjusted revenues of $221 million, missing the consensus of $223.17 million. The company's net interest income plunged 27.4% Y/Y to $106 million, primarily due to the loan portfolio's paydown and a reduced Floor Income earned. The company's GAAP equity-to-asset ratio was 4.5% in the quarter under review, and its adjusted tangible equity ratio of 8.4%. NAVI shares are trading lower by 1.65% to $19.02.
July 26, 2023 | 5:01 pm
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Navient Corporation's Q2 earnings missed estimates, with a significant drop in net interest income. The company's shares are trading lower.
Navient Corporation's Q2 earnings missed estimates, which is a negative signal to investors. Additionally, the significant drop in net interest income indicates potential issues with the company's profitability. This news is directly impacting the company's stock price, which is trading lower.
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