Reported Q: Q3 2024 Rev YoY: +35.0% EPS YoY: -18.6% Move: +0.75%
OneMain Holdings Inc
OMF
$62.10 0.75%
Exchange NYSE Sector Financial Services Industry Financial Credit Services
Q3 2024
Published: Oct 30, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for OMF

Reported

Report Date

Oct 30, 2024

Quarter Q3 2024

Revenue

1.47B

YoY: +35.0%

EPS

1.31

YoY: -18.6%

Market Move

+0.75%

Previous quarter: Q2 2024

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Earnings Highlights

  • Revenue of $1.47B up 35% year-over-year
  • EPS of $1.31 decreased by 18.6% from previous year
  • Gross margin of 72.6%
  • Net income of 157.00M
  • "Credit results are trending in a positive direction and we continue to make good progress on our strategic initiatives to position OneMain for success in the years to come. Capital generation was $211 million and C&I adjusted earnings were $1.26 per share this quarter, both up significantly from last quarter." - Doug Shulman
OMF
Company OMF

Executive Summary

OneMain Holdings delivered a solid Q3 2024 with revenue of $1.465 billion and GAAP net income of $157 million ($1.31 per diluted share). Management highlighted improving credit trends, continued growth in originations, and a diversified product mix (auto finance and credit cards) as key drivers of revenue and capital generation. The company reinforced its disciplined underwriting posture, tight pricing discipline, and a fortress balance sheet, supported by the August 750 million unsecured social bond and a robust funding program. As the front book continues to migrate toward newer vintages, OneMain expects continued earnings visibility and capital generation into 2025, aided by favorable macro trends if they persist. The company maintained its 2024 guidance and signaled that 2025 will benefit from further improvement in delinquency trends and front-book performance, while remaining mindful of macroeconomic risk and competitive dynamics in consumer finance.

Key Performance Indicators

Revenue
Increasing
1.47B
QoQ: 4.27% | YoY: 35.02%
Gross Profit
Increasing
1.06B
72.63% margin
QoQ: -9.98% | YoY: 51.14%
Operating Income
Increasing
1.09B
QoQ: 11.89% | YoY: 343.90%
Net Income
Decreasing
157.00M
QoQ: 121.13% | YoY: -19.07%
EPS
Decreasing
1.31
QoQ: 122.03% | YoY: -18.63%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 188.00 1.78 -86.1% View
Q4 2024 1,187.00 1.05 +7.4% View
Q3 2024 1,465.00 1.31 +35.0% View
Q2 2024 1,405.00 0.59 +32.8% View
Q1 2024 1,353.00 1.29 +31.1% View