Navient (NAVI) Reports In-Line Q3 EPS

Navient (NASDAQ: NAVI) reported Q3 EPS of $0.52, in-line with the analyst estimate of $0.52.

"This quarter again demonstrated improved credit performance," said Jack Remondi, president and CEO, Navient. "Private credit charge-offs set a new record low since 2008, and our education campaign assisted more federal and private loan customers to enroll in the repayment option that best meets their needs. Earlier this week we also successfully completed the transition of our servicing operations and rolled out the Navient brand to our 12 million customers, including launch of new repayment and financial literacy tools. The transition comes at an exciting time for Navient, as we are proud to share that our proactive outreach, data-driven programs, and emphasis on payment plans has helped drive the decline in the national federal student loan cohort default rate. In fact, customers whose loans we service have a default rate 40 percent lower than the national average. On behalf of 6,200 Navient team members, I'm proud of our leadership in helping more people achieve financial success."

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

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