Navient (NAVI) Misses Q1 EPS by 1c

Navient (NASDAQ: NAVI) reported Q1 EPS of $0.43, $0.01 worse than the analyst estimate of $0.44.

Core earnings for the quarter were $107 million ($0.40 diluted core earnings per share), compared with $107 million ($0.36 diluted core earnings per share) for the year-ago quarter. The increase in diluted core earnings per share was primarily the result of a $20 million reduction in provisions for loan losses, a $20 million reduction in income tax expense as a result of a lower tax rate in connection with the passage of the “Tax Cuts and Jobs Act” (“TCJA”), and fewer common shares outstanding. First-quarter 2018 and 2017 diluted core earnings per share were $0.43 and $0.37, respectively, excluding restructuring and regulatory-related expenses of $11 million and $4 million, respectively

For earnings history and earnings-related data on Navient (NAVI) click here.

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