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Sallie Mae (SLM) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

Zacks Equity Research
·2-min read

Sallie Mae (SLM) reported $387.02 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.5%. EPS of $1.27 for the same period compares to $0.47 a year ago.

The reported revenue represents a surprise of +2.81% over the Zacks Consensus Estimate of $376.43 million. With the consensus EPS estimate being $1.09, the EPS surprise was +16.51%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Sallie Mae performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Interest Margin: 5.5% versus the three-analyst average estimate of 5.4%.

  • Average Balances-Interest earning assets: $28.37 billion versus $28.40 billion estimated by two analysts on average.

  • Net Interest Income: $387.02 million versus the four-analyst average estimate of $377.67 million.

  • Gains on sales of loans, net: $143.04 million versus $111.11 million estimated by four analysts on average.

  • Other income: $29 million versus the four-analyst average estimate of $22.39 million.

  • Total Non-Interest Income: $174.16 million versus $133.75 million estimated by four analysts on average.

View all Key Company Metrics for Sallie Mae here>>>

Shares of Sallie Mae have returned +3.7% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research