OneMain (OMF) Q3 2025 earnings summary

Executive summary

• Net income for Q3 2025 was $199 million, up from $157 million in Q3 2024, with diluted EPS rising to $1.67 and adjusted EPS to $1.90; managed receivables reached $25.9 billion, up 6% year-over-year, and customer accounts grew to 3.7 million.

• Originations totaled $3.9 billion, up 5% year-over-year, supported by product innovation and expanded data analytics.

• Capital generation increased 29% to $272 million, with continued investment in new products and digital capabilities.

• Quarterly dividend increased to $1.05 per share (7% yield), and a new $1.0 billion share repurchase program was approved through 2028.

• Credit metrics improved, with 30+ day delinquency at 5.41% (down 16 bps YoY) and net charge-offs declining across products.

Financial highlights

• Total revenue for Q3 2025 was $1.6 billion, up 9% year-over-year; interest income rose 9% to $1.4 billion, and adjusted net income was $227 million, up from $151 million.

• Interest expense increased 7% to $320 million, with funding costs declining to 5.2% of average net receivables.

• Provision for finance receivable losses was $488 million, down $24 million from the prior year.

• Operating expenses rose 8% to $427 million, reflecting receivable growth and strategic investments.

• Return on assets improved to 3.0% for Q3 2025, up from 2.5% in the previous quarter.

Outlook and guidance

• Raised full-year managed receivables growth guidance to 6–8% and total revenue growth to ~9%, above prior guidance.

• C&I net charge-offs expected between 7.5% and 7.8%, at the lower end of the initial range.

• Operating expense ratio expected to remain at ~6.6% for the year.

• Capital generation in 2025 projected to significantly exceed 2024.

• Management remains focused on maintaining a strong balance sheet, conservative underwriting, and strategic growth.