Sallie Mae Q3: Loan Growth, Earnings Miss, Guidance Raised

Sallie Mae (SLM) reported Q3 2025 GAAP diluted EPS of $0.63, missing analysts' estimates (~$0.80–$0.84) by about 25% and recording net income of roughly $132–$136 million after a year‑ago loss. Private education loan originations rose about 6.4% year‑over‑year to $2.9 billion and average loans outstanding grew roughly 9% to about $22.3 billion, supporting net interest income of roughly $373 million and a net interest margin near 5.1%. Provision for credit losses declined to about $179 million, but 30+‑day delinquencies ticked up, producing mixed credit signals. The company recorded approximately $1.9–$1.94 billion in gains from loan sales. Management repurchased 5.6 million shares, declared a $0.13 dividend, and raised full‑year EPS guidance to $3.20–$3.30. The earnings miss prompted modest after‑hours stock weakness (~1%), and investors are focused on management commentary and potential estimate revisions.