Sallie Mae swings to Q3 2026 net loss of $32 million from year-earlier profit

Bitget2026/10/22 20:37

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Sallie Mae swung to a third-quarter 2026 GAAP diluted loss of $0.19 per common share from a year-earlier profit.
Net interest income fell 9% year-over-year to $339 million, while non-interest income dropped 79% to $36 million.
Private Education Loan originations climbed 15% year-over-year to $3.4 billion, while Graduate Loan originations more than doubled.
Non-interest expenses rose 22% year-over-year to $221 million, largely due to peak-season spending to capture new volume and customers following PLUS reform.
The lender cut its full-year 2026 diluted earnings guidance to $1.95–$2.05 per common share from $3.10–$3.20.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. SLM Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001032033-26-000051), on October 22, 2026, and is solely responsible for the information contained therein.

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Western Digital's CFO expressed strong support for AI storage demand, stating that hyperscale cloud providers are continuously increasing capital expenditures and have engaged in discussions regarding supply needs through 2030 to 2031. Although the company's quarterly results exceeded expectations and profit guidance was raised, capital expenditure more than doubled compared to the same period last year, putting pressure on free cash flow. This has sparked concerns in the market about the sustainability of returns on AI data center investments. The stock closed down by about 3% on Friday.

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