Credit performance was very good and continues to track well against our expectations, both for delinquencies and losses.
— Douglas Shulman
03Detailed Report
OMF
Company OMF
Period
Q1 2026
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 15, 2026
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Executive Summary
OneMain Holdings delivered a solid QQ1 2026 performance with total revenue of $1.587 billion, up mid-single digits versus the prior year, and a 6% year-over-year increase in managed receivables to $26.1 billion. C&I adjusted net income per diluted share rose 13% year-over-year to $1.95, while GAAP EPS was $1.93. The company continued to scale its three-lane strategy—personal loans, auto finance, and credit cards—while maintaining a conservative underwriting posture and improving delinquencies and losses in key segments. Management remains confident in the 2026 plan, reiterating guidance for 6%–9% managed receivables growth, 7.4%–7.9% C&I net charge-offs for the year, and an OpEx ratio around 6.6%, supported by ongoing capital generation and a disciplined capital return program. The quarter showcased meaningful AI-driven efficiency initiatives and product innovations across lending segments, along with a strategic emphasis on balance sheet strength and diversified funding to navigate a volatile funding environment.
Key Performance Indicators
Revenue
Increasing
1.59B
QoQ: 744.15% | YoY: 12.95%
Gross Profit
Increasing
1.25B
78.89% margin
QoQ: 4 273.33% | YoY: 5.92%
Operating Income
Decreasing
621.00M
QoQ: 4.90% | YoY: -36.37%
Net Income
Increasing
226.00M
QoQ: 6.10% | YoY: 218.31%
EPS
Increasing
1.94
QoQ: 8.38% | YoY: 228.81%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $1.587B in Q1 2026, up ~6% YoY; Gross Profit: $1.252B; Gross Margin: 78.89%; Operating Income: $621M; Operating Margin: 39.13%; Net Income: $226M; GAAP EPS: $1.94; Diluted EPS: $1.93; Capital Generation: $194M; Managed Receivables: $26.1B, up 6% YoY; Originations: $3.1B, up 3% YoY; Auto Receivables: $2.8B, up 14% YoY; Credit Card Receivables: Just under $1.0B; Card Accounts: ~1.2M; Consumer Loan Yield: 22.5% (up 13 bps YoY); Total Revenue Yield (Card): 33.9% (up ~300 bps YoY); Interest Expense: $322M; Interest Expense as % of Avg Net Receivables: 5.3%; Provision Expense: $465M (net charge-offs $512M; reserve decrease of $47M); Loan Loss Reserve Ratio: 11.5% (flat YoY); Credit Card NCO: 18% (down ~176 bps YoY); 30–89 DQ: 2.62% (down 1 bp YoY); 30+ DQ improvement: 48 bps QoQ; OpEx: $437M; OpEx Ratio: 6.8%; Leverage: Net debt/EBITDA 5.4x; Liquidity: Bank lines $7.5B; Revolving ABS: $850M; Dividend: $4.20 annualized (~7% yield); Share Repurchases: $105M (1.9M shares) in Q1, $176M (3.1M shares) over last two quarters.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
1.59B
12.95%
744.15%
Gross Profit
1.25B
5.92%
4 273.33%
Operating Income
621.00M
-36.37%
4.90%
Net Income
226.00M
218.31%
6.10%
EPS
1.94
228.81%
8.38%
Key Financial Ratios
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