Navient Corporation (NAVI) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Naviant Fourth Quarter 2025 Earnings Conference Call. This call is being recorded. Currently, all participants are in a listen-only mode. Following the remarks, we will conduct a question and answer session. Instructions will be provided at that time. If anyone should require assistance during the call, please press the star key followed by zero on your telephone keypad. At this time, I will turn the call over to Jen Arias, Navient's Head of Investor Relations. Please go ahead. Hello, good morning, and welcome to Navient's earnings call for the fourth quarter of 2025. With me today are David Yohan, Navient's CEO, and Steve Hauber, Navient's CFO. After their prepared remarks, we will open up the call for questions. Today's discussion is accompanied by a presentation, which you can find on Navient.com slash investors. Before we begin, keep in mind our discussion will contain predictions, expectations, forward-looking statements, and other information about our business that is based on management's current expectations as of the date of this presentation. Actual results in the future may be materially different from those discussed here. This could be due to a variety of factors. Listeners should refer to the discussion of those factors on the company's Form 10-K and other filings with the SEC. During this conference call, we will refer to non-GAAP financial measures, including core earnings, adjusted tangible equity ratio, and various other non-GAAP financial measures that are derived from core earnings. Our GAAP results, description of our non-GAAP financial measures, and the reconciliation of core earnings to GAAP results can be found in Navient's fourth quarter 2025 earnings release, which is posted on our website. Thank you, and now...