OneMain Holdings delivered a solid QQ1 2024 offensive across its non-prime consumer lending franchises, underscored by continued credit discipline and strategic portfolio expansion. Revenue reached $1.353 billion, up 31% year-over-year, with net income of $155 million and $1.29 per share. A key driver was the 6% year-over-year growth in managed receivables to roughly $22.0 billion, even as originations declined 10% year-over-year to $2.5 billion due to tighter pricing and a deliberately restrictive credit box. Delinquency trends improved meaningfully, with 30-89 day delinquencies at 2.72% (down 56 basis points QoQ), while loan net charge-offs were 8.6%, in line with expectations and signaling progress toward the anticipated peak in H1 2024. The quarter also featured meaningful strategic progress: the Foursight Capital auto-finance acquisition closed on April 1, and the BrightWay credit card launched as a growth vector with 509,000 card accounts totaling $386 million in receivables. Management reaffirmed a disciplined, profitability-first growth framework, highlighted by a 4% increase in the quarterly dividend to $4.16 per share and a renewed emphasis on expanding high-quality originations (two-thirds in top two credit tiers). Looking ahead, the company guides for 2024 to end with roughly $24 billion in managed receivables (including about $1 billion from Foursight), 6-8% total revenue growth, approximately 5.2% interest expense as a share of average net receivables, and full-year net charge-offs in the 7.7%–8.3% range with peak losses in the first half of 2024. The combination of a fortress balance sheet, diversified product suite, and disciplined credit management supports a constructive medium-term outlook, albeit with elevated leverage and sensitivity to macro developments.