Onemain Holdings Stock Earnings Reports

OneMain reported a solid Q1 2026: revenue and managed receivables grew 6% year-over-year, capital generation was $194 million, and C&I adjusted EPS was $1.95 (up 13% YoY). Receivables growth was supported by personal loan originations and faster-growing newer businesses—auto receivables rose 14% YoY to $2.8 billion and credit card receivables increased 45% YoY to just under $1 billion (accounts up ~40% YoY). Credit performance was in line with expectations: 30–89 day delinquencies improved sequentially, consumer loan net charge-offs were 8.0% (seasonally higher in H1), and the company reiterated full-year guidance for C&I net charge-offs of 7.4%–7.9%. Loan loss reserves remained $2.8 billion (11.5% reserve ratio). Management highlighted progress on strategic initiatives—product innovation in personal loans, pilots and deployments of AI to improve productivity and recoveries, expansion of the dealer network (including an Ally partnership), and scaling the BrightWay credit card. Funding remained a strength (an $850M 3-year revolving ABS priced at 4.63% in March), net leverage 5.4x, and the company repurchased $105M of shares in Q1. Capital allocation priorities remain: originate profitable loans, maintain the dividend (regular annualized dividend $4.20), and use buybacks opportunistically. Management reiterated 2026 guidance for 6%–9% receivables growth and an operating expense ratio around 6.6%. They remain cautiously optimistic on the consumer and see the company as operating from a position of strength.