$NAVI (Navient Corporation)

$NAVI {{ '2015-07-22T13:38:26+0000' | timeago}} • Webcast

$NAVI 2Q15 Call: Repurchased $522MM of unsecured notes. In 2015, reduced unsecured debt outstanding by roughly $1.2Bil through repurchases of maturities. Repurchased 15.2MM shares for $300MM. Has remaining authority of $400MM under current share repurchase plan. As of June 30, 2015, tangible net assets unsecured debt ratio was at 1.25 times.

$NAVI {{ '2017-07-19T16:13:09+0000' | timeago}} • Webcast

$NAVI expects to continue to securitize the private education loan ABCP facility and this has been included in the net interest margin guidance for 2017 and going forward.

$NAVI {{ '2017-07-19T15:53:28+0000' | timeago}} • Webcast

$NAVI saw strong performance in the Business Services segment during 2Q17. The company earned $185MM in fee-related revenue, up 5% YoY, with non-education loan-related revenue growing 16%. $NAVI aims to organically grow its non-education fee revenue by 20% in 2017.

$NAVI {{ '2017-07-19T15:43:34+0000' | timeago}} • Webcast

During 2Q17, the credit performance of $NAVI’s federal and private student loan portfolio was strong and this continues to improve. The portfolio trends are benefitting from strong increases in employment for millennials, rise in pay and efforts to deploy data-driven strategies that increase customer contact.

$NAVI {{ '2017-07-18T22:00:17+0000' | timeago}} • Infographic

$NAVI Navient Earnings AlphaGraphics: Q2 2017 highlights

$NAVI {{ '2017-07-18T21:07:15+0000' | timeago}} • Announcement

In 2Q17, $NAVI paid a common stock dividend of $0.16 per share. The company repurchased 10.9MM shares of common stock for $165MM in 2Q17.

$NAVI {{ '2017-07-18T21:04:32+0000' | timeago}} • Announcement

$NAVI reported net income of $112MM or $0.39 per share in 2Q17 compared with $125MM or $0.38 per share in 2Q16. Core earnings were $123MM or $0.43 per share versus $154MM or $0.47 per share for 2Q16. The decrease in diluted core EPS was primarily the result of a $65MM reduction in net interest income due to the amortization of the portfolio.

$NAVI {{ '2017-04-19T13:15:20+0000' | timeago}} • Webcast

$NAVI said it has ample capacity in its facilities to finance the $JPM portfolio acquisition. The company believes its financing partners will support the transaction. $NAVI has excess capital and also a few hundred million dollars of capacity on the private credit side. The company is confident in its ability to finance the transaction.

$NAVI {{ '2017-04-19T12:52:46+0000' | timeago}} • Webcast

On the state level, $NAVI does business with a number of municipalities across the US. The company won some contracts to do some state tax amnesty programs that are ongoing. There is also a recurring revenue program that deals with driver assessments for traffic violations. These contracts are diverse and are a major component of the business.

$NAVI {{ '2017-04-19T12:41:59+0000' | timeago}} • Webcast

$NAVI said the timing of the Department of Education contract was held up by a protest that was dismissed in April. The new administration has not made any announcements relating to the timing issues. $NAVI believes it has the ability to meet the DOE’s objectives in terms of the scale and capacity to manage all loans on a single platform.

$NAVI {{ '2017-04-18T21:13:13+0000' | timeago}} • Announcement

In 1Q17, $NAVI paid a common stock dividend of $0.16 per share and repurchased 7.4MM shares of common stock for $110MM.

$NAVI {{ '2017-04-18T21:11:41+0000' | timeago}} • Announcement

In 1Q17, $NAVI’s FFELP loans segment posted core earnings of $51MM compared with $66MM in 1Q16. For the private education loans segment, core earnings were $35MM compared with $61MM a year ago. Business services core earnings were $77MM compared with $75MM last year.

$NAVI {{ '2017-04-18T21:07:36+0000' | timeago}} • Announcement

$NAVI announced that it will purchase $JPM’s approx. $6.9Bil education loan portfolio, comprised of $3.7Bil in FFELP loans and $3.2Bil in private education loans. The closing of the transaction is expected to occur in stages in 2Q17. The deal is expected to be accretive to $NAVI in 2017.

$NAVI {{ '2017-04-18T21:03:25+0000' | timeago}} • Announcement

$NAVI reported a decrease in 1Q17 earnings. Net income was $88MM or $0.30 per share  versus $181MM or $0.53 per share in 1Q16. 1Q17 results include losses of $23MM from derivative accounting treatment. Core earnings were $107MM or $0.36 per share  versus $147MM or $0.43 per share in 1Q16, primarily due to an $82MM reduction in net interest income.

$NAVI {{ '2017-04-05T13:47:43+0000' | timeago}} • Announcement

$NAVI announced a 2Q17 dividend of $0.16 per share. The dividend will be paid on June 16, 2017, to shareholders of record at the close of business on June 2, 2017.

$NAVI {{ '2017-04-05T12:08:24+0000' | timeago}} • Announcement

Asset management and business processing solutions company $NAVI announced the appointment of EVP of $AXP, David Yowan, to its BoD.

$NAVI {{ '2017-02-22T12:41:53+0000' | timeago}} • Announcement

$NAVI announced the appointment of Christian Lown as the company's EVP and CFO, effective March 27, 2017. Somsak Chivavibul, current CFO, will spearhead the launch of a new enterprise-wide decision management center.

$NAVI {{ '2017-02-08T15:41:11+0000' | timeago}} • Announcement

$NAVI announced the amendment of transaction agreements for Navient-sponsored securitizations totaling $190MM of bonds backed by federally guaranteed student loans.

$NAVI {{ '2017-02-07T12:38:37+0000' | timeago}} • Announcement

$NAVI said its BoD approved a 1Q17 dividend of $0.16 per share on the company's common stock. The dividend will be paid on March 17, 2017, to shareholders of record on March 3, 2017.

$NAVI {{ '2017-01-25T13:38:58+0000' | timeago}} • Webcast

For FY17, $NAVI expects FFELP net interest margin in the high 70s BP and Private Education Loan net interest margin in the mid 320s BP. Operating expenses for FY17 is expected below $900MM, excluding expenses associated with regulatory costs, while business services revenue excluding intercompany loan servicing revenue to range between $630-660MM.

$NAVI {{ '2017-01-25T13:33:32+0000' | timeago}} • Webcast

In Private Education Loan segment, $NAVI's core earnings fell by $15MM YoverY to $41MM. In 4Q16, the company's NIM in this segment was 308BP, reflecting the impact of the prepayment adjustment in the qtr. In Business Services segment, core earnings in 4Q16 fell to $71MM from $81MM a year ago, driven by increase in reserves for legal contingencies.

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