Onemain Holdings, Inc. · NYSE:OMF
Onemain — Q1 2025 Earnings Presentation
18 slides from Onemain's earnings presentation, Apr 29, 2025
Slide 1: 1Q25 Financial Results
1Q25 Financial Results NYSE: OMF | April 29, 2025
Slide 2: Important Information
Important Information The following slides are part of a presentation by OneMain Holdings, Inc. (the "Company") in connection with reporting quarterly financial results and are intended to be viewed as part of that presentation. No representation is made that the information in these slides is compl
Slide 3: Our Vision is to be the Lender of Choice for the Nonprime Consumer
Our Vision is to be the Lender of Choice for the Nonprime Consumer Meet their Progress to a needs today better future Unsecured loans OneMain Financial wellness Secured loans Customers Insurance Auto finance Bill negotiation Credit cards 3
Slide 4: 1Q25 Financial Highlights
1Q25 Financial Highlights $3.0 billion $194 million 3.4 million Originations Capital Generation* Customer Accounts Up 20% YoY (13% organic1) $1.72 C&I Adjusted EPS* Up 14% YoY $24.6 billion $1.5 billion 6.6% Managed Receivables* C&I Total Revenue* OpEx Ratio* Up 12% YoY (6% organic1) Up 10% YoY Flat
Slide 5: 1Q25 Financial Results
1Q25 Financial Results ($ in millions, except Average Assets and Average Net Receivables in billions, and per share statistics) Earnings Summary C&I* Adjusted Earnings Summary 1Q25 4Q24 1Q24 1Q25 4Q24 1Q24 Consumer & Insurance* $275 $185 $233 Interest Income $1,301 $1,312 $1,172 Other Net Revenue 14
Slide 6: Originations & Receivables (C&I)
Originations & Receivables (C&I)* ($ in billions, unless noted) Consumer Loan Originations Highlights $3.6 $3.7 $3.5 • $3.0 billion in 1Q25, up 20% YoY (13% organic1), with conservative $3.0 $3.0 credit posture $2.5 • Growth driven by new products and utilization of data science and product innovati
Slide 7: 1Q25 New Products Highlights
1Q25 New Products Highlights ($ in millions) Everyday transactions Financing at the point of purchase • Digital-first offering that rewards good credit behavior • Deep experience in secured lending, best-in-class capabilities and strong credit performance • Targeted and disciplined rollout with 5% Q
Slide 8: Consumer Loan Delinquency Trends (C&I)
Consumer Loan Delinquency Trends (C&I)*1 ($ in millions) Highlights 30-89 Days Delinquent $689 $672 • 30+ delinquency of 5.08%, down 49bps YoY; down 57bps QoQ, $624 $651 trending better than normal seasonal patterns $562 $568 • 30-89 delinquency of 2.63%, down 9bps YoY; down 43bps QoQ, 3.28% 2.97% 3
Slide 9: Portfolio Performance is Supported by Credit Tightening (C&I)
Portfolio Performance is Supported by Credit Tightening (C&I)*1 Highlights • 30+ delinquency of 5.08%, down 49bps YoY • Front book2 is growing and continues to perform in line with expectations • Back book now accounts for 13% of receivables but contributes 27% to delinquency Front Book2 % of Portfo
Slide 10: Credit Trends (C&I)
Credit Trends (C&I)* ($ in millions) Highlights Loss Reserve Trends $2,651 $2,710 $2,693 $2,480 $2,454 $2,571 • 1Q25 C&I net charge-offs1 of 8.2%, down 49bps YoY, improving from 4Q24 which was up 14bps YoY • 1Q25 Consumer Loan net charge-offs of 7.8%, down 75bps YoY, 11.6% 11.6% 11.5% 11.5% 11.5% 11
Slide 11: Operating Expenses (C&I)
Operating Expenses (C&I)* ($ in millions) Highlights • 1Q25 operating expense of $401 million; 1Q25 OpEx ratio of 6.6%, flat YoY, includes Foursight expenses and continued investment in the business • 1Q25 operating expenses increased 11% YoY as managed receivables grew 12% Quarterly Operating Expen
Slide 12: Balance Sheet & Funding
Balance Sheet & Funding Unsecured Bank Facilities ($ in billions, unless noted) Secured Highlights $7.7 $8.0 $8.0 $7.81 $7.4 $7.5 • Well-positioned funding profile with balanced debt mix, staggered maturities $1.3 $1.3 $1.3 $1.1 $1.1 $1.1 and significant liquidity $6.4 $6.7 $6.7 $6.7 $6.3 $6.4 • Iss
Slide 13: Capital Allocation Framework
Capital Allocation Framework 1 2 Business Investment • Balance sheet growth: managed Regular Dividend 3 receivables grew 12% in 1Q25 • Board declared regular quarterly • Continue to invest in new products and channels, data science, dividend of $1.04 per share, Share Repurchases payable May 16 techn
Slide 14: 2025 Strategic Priorities (C&I)
2025 Strategic Priorities (C&I)* No change versus prior guidance Key Metrics 2025E Commentary Managed Receivables 5.0% – 8.0% • Assumes continued conservative underwriting posture; prepared to adjust should environment change Growth Revenue Growth 6.0% – 8.0% • Reflects receivables growth and modest
Slide 15: Appendix
Appendix
Slide 16: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (unaudited, $ in millions) 1Q25 4Q24 3Q24 2Q24 1Q24 FY24 FY23 Consumer & Insurance $270 $159 $200 $145 $203 $707 $845 Other 1 (1) - - - (1) (6) Segment to GAAP adjustment 4 6 7 (53) 1 (39) 1 Income before income taxes - GAAP basis $275 $164 $207 $92 $204 $667 $840
Slide 17: Reconciliation of Non-GAAP Measures (cont'd)
Reconciliation of Non-GAAP Measures (cont’d) (unaudited, $ in millions) 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Consumer & Insurance $23,365 $23,598 $23,128 $22,428 $21,083 Segment to GAAP adjustment (37) (44) (53) (63) - Net finance receivables - GAAP basis $23,328 $23,554 $23,075 $22,36
Slide 18: Defined Terms
Defined Terms • Auto Finance: financing at the point of purchase through a network of auto dealerships • Average assets: average of monthly average assets (assets at the beginning and end of each month divided by two) in the period • C&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) / wei