OneMain (OMF) Q2 2025 earnings summary

Executive summary

• Net income for Q2 2025 was $167 million, up from $71 million in Q2 2024; diluted EPS rose to $1.40 from $0.59 year-over-year, and adjusted net income was $173 million with adjusted diluted EPS of $1.45, both up 42% year-over-year.

• Managed receivables surpassed $25 billion for the first time, growing 7% year-over-year to $25.2 billion from 3.5 million customer accounts.

• Consumer loan originations reached $3.9 billion in Q2 2025, up 9% year-over-year, with APR rising 54bps to 26.9%.

• Capital generation rose 63% year-over-year to $222 million, and customer accounts totaled 3.5 million.

• Strategic investments in product portfolio, data science, and digital innovation continue to drive profitable growth and capital generation.

Financial highlights

• Total revenue for Q2 2025 was $1.53 billion, up 10% year-over-year; interest income rose 10% to $1.34 billion.

• Interest expense was $317 million, up 7% year-over-year, representing 5.4% of average net receivables.

• Provision for finance receivable losses decreased 11% to $511 million for Q2 2025; net interest income after provision was $511 million, up from $347 million.

• Operating expenses increased 11% to $415 million, with an OpEx ratio at 6.7%.

• Return on assets improved to 2.5% from 1.1% in Q2 2024.

Outlook and guidance

• 2025 net charge-offs expected at the lower half or high end of the 7.5%-7.8% guidance range due to strong credit performance.

• Full-year managed receivables growth outlook remains at 5% to 8%; revenue growth guidance at 6%-8%.

• Operating expense ratio guidance reaffirmed at approximately 6.0%-6.6% for 2025.

• Management remains focused on disciplined underwriting, strong liquidity, and strategic growth.

• The company expects to maintain its minimum quarterly dividend of $1.04 per share for the foreseeable future.