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The market expects OneMain Holdings (OMF - Free Report) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 29. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis consumer finance company is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of -9.7%.

Revenues are expected to be $1.07 billion, up 4.5% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for OneMain?For OneMain, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that OneMain will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that OneMain would post earnings of $1.92 per share when it actually produced earnings of $1.95, delivering a surprise of +1.56%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

OneMain doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

, /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, plans to report its second quarter 2026 results before the market opens on Wednesday, July 29, 2026. The earnings release will be available on OneMain's investor relations website at http://investor.onemainfinancial.com.

A conference call to discuss the company's results, outlook and related matters will be held that morning at 9:00 a.m. Eastern. The general public is invited to listen to the call by dialing 877-407-0792 (U.S. domestic) or 201-689-8263 (international), and using conference ID 13761044, or via a live audio webcast through our investor relations website. For those unable to listen to the live broadcast, a replay will be available on our website after the event.

About OneMain Holdings, Inc.

OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 48 states, available online and in more than 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com.

Contacts
Investor Contact:
Peter R Poillon, 212-359-2432
[email protected] 

SOURCE OneMain Holdings, Inc.

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SummaryOneMain Holdings remains resilient amid macro volatility, delivering 2.5% returns since the last coverage and justifying my reiterated buy rating.OMF's risk is mitigated by 55% of personal loans being secured, a $2.8B loan loss allowance, and fixed-rate lending, supporting credit quality.My updated Dividend Discount Model yields a target price of $88.79; with a 20% margin of safety, my buy zone is up to $71.04.OMF offers an attractive ~7% dividend yield, with yields remaining compelling even if the stock appreciates to my conservative target. Kamonchanok Jaikaew/iStock via Getty Images

Two and a half months after my previous coverage, OneMain Holdings, Inc. (OMF) remained resilient. Recent events like the Middle East War and inflation reacceleration did not erode its value. It even delivered 2.5% returns

911 Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of OMF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Should you prioritize the steady returns of an established lender or the high-growth potential of an AI disruptor? Comparing OneMain (OMF +0.09%) and Upstart (UPST 3.42%) helps determine which fits your individual goals.

OneMain focuses on personal loans for nonprime borrowers through a massive network of physical branches and digital tools. Upstart operates as a technology platform that uses artificial intelligence to help banks and credit unions price risk more accurately. Both companies facilitate consumer credit but utilize radically different business models to reach their target markets.

The case for OneMainOneMain provides personal loans and credit products to nonprime consumers through its extensive network of 1,300 branches and online platforms. The company operates in the consumer credit market and is a notable player among financial stocks. By focusing on personalized service and a local presence, it reaches borrowers who may have limited options through traditional banking channels.

For FY 2025, revenue reached nearly $6.2 billion, representing an increase of roughly 9.1% over the previous year. The company reported net income of approximately $783 million, resulting in a net margin of nearly 12.5%. This performance reflects a steady recovery in earnings compared to the prior two fiscal years.

As of its December 2025 balance sheet, the debt-to-equity ratio was roughly 6.7x. This metric indicates that the company's total debt is approximately 6.7 times its shareholders’ equity. Free cash flow, which represents cash from operations minus capital expenditures, reached nearly $3.1 billion in FY 2025.

The case for UpstartUpstart operates an AI-driven marketplace that connects consumers with more than 100 banks and credit unions to facilitate various loan products. The company relies heavily on a small group of partners, with three entities originating roughly 83% of its loans and contributing about 61% of total revenue. Customer concentration like this adds a layer of risk to the business.

In FY 2025, revenue surged by nearly 59% to reach nearly $1.1 billion. This growth allowed the company to return to profitability, reporting net income of roughly $53.6 million. This resulted in a net margin of close to 5.0%, a significant improvement over the net losses recorded in the previous two years.

As of December 2025, the company maintained a debt-to-equity ratio of approximately 2.3x. Its current ratio, which measures the ability to cover short-term liabilities with short-term assets, was roughly 3.0x. For the fiscal year, Upstart reported negative free cash flow of approximately -$166.1 million.

Risk profile comparisonOneMain faces significant risks from adverse macroeconomic conditions that could disproportionately impact its nonprime borrower base. The company also navigates intense competition from larger financial institutions, such as JPMorgan Chase  (JPM +2.23%), which have a lower cost of funds. Furthermore, strict oversight from the Consumer Financial Protection Bureau could lead to increased compliance costs or regulatory penalties.

Upstart is highly dependent on institutional investors and a few key lending partners to maintain its loan volume and revenue. Its proprietary AI models pose a risk of pricing errors if they fail to adapt quickly to rapid economic shifts. Additionally, the company faces growing competition from other financial technology firms such as SoFi Technologies (SOFI 4.58%).

Valuation comparisonOneMain currently offers a significantly lower Forward P/E than its rival, making it a potentially attractive option for value-oriented investors.

MetricOneMainUpstartSector BenchmarkForward P/E7.8x35.1x16.6xP/S ratio1.4x3.1xSector benchmark uses the SPDR XLF sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

While both companies take radically different approaches to providing loans, each business is ultimately dependent on the same thing: the financial health of the average American consumer.

As a business with a greater focus on subprime lending, OneMain is more susceptible to the weaker part of the ‘K-shaped’ economy, where the very wealthiest are thriving while everyone else is in worse financial condition. While that can boost the need for loans, it also heightens the risk of loan defaults by OneMain borrowers. The company hedges this a bit by packaging and selling batches of its loans, such as auto receivables, to other parties.

Upstart, meanwhile, competes for a slightly more upmarket customer base with AI-powered lending models designed to provide near-instantaneous loan offers that accurately reflect risk for the lender. Don’t let the AI nature of the process allow you to overlook what could be very real risks to the modeling: AI may not be able to accurately price loans in changing economic conditions, and, in the long run, regulators may take a closer look at AI lending for bias, given the large amounts of information such systems may consume, and which might violate fairness in lending standards

OneMain is cheaper on a valuation basis, but the company saw an uptick in delinquencies in the first part of the year. While it expects that to decline, it’s an immediate risk. Upstart, meanwhile, is likely more insulated given its slightly higher-quality consumer base. The nearly 36% revenue rise expected for 2026, to more than $1.4 billion, compared to OneMain’s expected 10% revenue rise, gives Upstart the nod.

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of OneMain Holdings, Inc. (“OneMain” or the “Company”) (NYSE: OMF) investors concerning the Company's possible violations of federal securities laws.IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN ONEMAIN HOLDINGS, INC. (OMF), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.Contact the Law Offices of Howard G. Smith to discuss your legal rights by e.

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, continues its investigation on behalf of OneMain Holdings, Inc. (“OneMain” or the “Company”) (NYSE: OMF) investors concerning the Company's possible violations of the federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON ONEMAIN HOLDINGS, INC. (OMF), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. What Happened? On March 16, 2026, Washing.

Bragar Eagel & Squire, P.C.  Litigation Partner  Brandon Walker  Encourages Investors Who Suffered Losses In OneMain (OMF) To Contact Him Directly To Discuss Their Options

OneMain (OMF) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

1Q 2026 Diluted EPS of $1.93 1Q 2026 C&I adjusted diluted EPS of $1.95 1Q 2026 Managed receivables of $26.1 billion Declared quarterly dividend of $1.05 per share , /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, today reported pretax income of $296 million and net income of $226 million for the first quarter of 2026, compared to $275 million and $213 million, respectively, in the prior year quarter. Earnings per diluted share were $1.93 in the first quarter of 2026, compared to $1.78 in the prior year quarter.

On May 1, 2026, OneMain declared a quarterly dividend of $1.05 per share, payable on May 15, 2026, to record holders of the Company's common stock as of the close of business on May 11, 2026.

During the quarter, the Company repurchased approximately 1.9 million shares of common stock for $105 million.

"We delivered a very good start to 2026, executing on our growth initiatives while maintaining our disciplined credit approach and balance sheet management," said Doug Shulman, Chairman and CEO of OneMain. "As we execute across our core loan business and newer products, we are driving revenue growth with good credit performance, reinforcing our ability to generate sustainable, attractive returns for shareholders."

The following segment results are reported on a non-GAAP basis. Refer to the required reconciliations of non-GAAP to comparable GAAP measures at the end of this press release.

Consumer and Insurance Segment ("C&I")

C&I adjusted pretax income was $305 million and adjusted net income was $229 million for the first quarter of 2026, compared to $275 million and $207 million, respectively, in the prior year quarter. Adjusted earnings per diluted share were $1.95 for the first quarter of 2026, compared to $1.72 in the prior year quarter.

Management runs the business based on capital generation, which it defines as C&I adjusted net income excluding the after-tax change in C&I allowance for finance receivable losses while still considering the current period C&I net charge-offs. Capital generation was $194 million for the first quarter of 2026, comparable to the prior year quarter.

Managed receivables, which includes loans serviced for our whole loan sale partners and auto finance loans originated by third parties, were $26.1 billion at March 31, 2026, up 6% from $24.6 billion at March 31, 2025.

Consumer loan originations totaled $3.1 billion in the first quarter of 2026, up 3% from $3.0 billion in the prior year quarter.

Total revenue, comprising interest income and total other revenue, was $1.6 billion in the first quarter of 2026, up 6% from $1.5 billion in the prior year quarter. Interest income in the first quarter of 2026 was $1.4 billion, up 6% from $1.3 billion in the prior year quarter. The increase was driven by receivables growth.

Interest expense was $322 million in the first quarter of 2026, up 4% from $311 million in the prior year quarter, due to an increase in average debt to support our receivables growth.

The provision for finance receivable losses was $465 million in the first quarter of 2026, up $9 million compared to the prior year period. During the first quarter of 2026, the allowance for finance receivable losses decreased $47 million driven by a seasonal decline in receivables.

C&I Select Delinquency and Loss Ratios

March 31, 2026

December 31, 2025

March 31, 2025

Consumer loans:

30+ days delinquency ratio

5.37 %

5.85 %

5.16 %

90+ days delinquency ratio

2.53 %

2.49 %

2.38 %

30-89 days delinquency ratio

2.84 %

3.36 %

2.77 %

Net charge-offs

8.02 %

7.56 %

7.83 %

Operating expense for the first quarter of 2026 was $437 million, up 9% from $401 million in the prior year quarter reflecting receivable growth and strategic investments in the business.

Funding and Liquidity

As of March 31, 2026, the Company had principal debt balances outstanding of $22.7 billion, 51% of which was secured. The Company had $834 million of cash and cash equivalents, which included $155 million of cash and cash equivalents held at regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes.

Cash and cash equivalents, together with the Company's $1.1 billion of undrawn committed capacity from an unsecured corporate revolver, $6.4 billion of undrawn committed capacity under revolving conduit facilities and credit card variable funding note facilities, and $11.4 billion of unencumbered receivables, provides significant liquidity resources.

Conference Call & Webcast Information

OneMain management will host a conference call and webcast to discuss the Company's results, outlook, and related matters at 9:00 am Eastern Time on Friday, May 1, 2026. Both the call and webcast are open to the general public. The general public is invited to listen to the call by dialing 800-420-1271 (U.S. domestic) or 785-424-1634 (international), and using conference ID 31259, or via a live audio webcast through OneMain's investor relations website at http://investor.onemainfinancial.com. For those unable to listen to the live broadcast, a replay will be available on the website after the event. An investor presentation will be available on the OneMain's investor relations website prior to the start of the conference call.

About OneMain Holdings, Inc.

OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 48 states, available online and in more than 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com. 

Use of Non-GAAP Financial Measures

We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes net loss resulting from repurchases and repayments of debt, restructuring charges, and other items and strategic activities. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment.

We also use pretax capital generation and capital generation, non-GAAP financial measures, as a key performance measure of our segment. Pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Capital generation represents the after-tax effect of pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company's reserves, combined with its equity, represent the Company's loss absorption capacity. 

We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH's executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP.

This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the Company's other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov).

Cautionary Note Regarding Forward-Looking Statements

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "anticipates," "appears," "assumes," "believes," "can," "continues," "could," "estimates," "expects," "forecasts," "foresees," "goal," "intends," "likely," "objective," "plans," "projects," "target," "trend," "remains," and similar expressions or future or conditional verbs such as "could," "may," "might," "should," "will" or "would" are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements.

Forward-looking statements are not statements of historical fact but instead represent only management's current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the "Risk Factors" and "Management's Discussion and Analysis" sections of the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC from time to time.

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.

Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law.

OneMain Holdings, Inc.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions, except per share amounts)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Interest income

$     1,387

$     1,416

$     1,392

$     1,339

$     1,308

$     5,455

$     4,993

Interest expense

(322)

(323)

(320)

(317)

(312)

(1,272)

(1,185)

Net interest income

1,065

1,093

1,072

1,022

996

4,183

3,808

Provision for finance receivable losses

(465)

(542)

(488)

(511)

(456)

(1,997)

(2,040)

Net interest income after provision for finance receivable losses

600

551

584

511

540

2,186

1,768

Insurance

112

113

112

111

110

445

445

Investment

23

22

26

24

26

98

108

Gain on sales of finance receivables

16

14

17

17

16

64

23

Net loss on repurchases and repayments of debt

(3)

(1)

(39)

(21)

(5)

(67)

(34)

Other

49

45

47

45

41

180

153

Total other revenues

197

193

163

176

188

720

695

Operating expenses

(449)

(447)

(436)

(419)

(404)

(1,707)

(1,607)

Insurance policy benefits and claims

(52)

(48)

(48)

(54)

(49)

(198)

(189)

Total other expenses

(501)

(495)

(484)

(473)

(453)

(1,905)

(1,796)

Income before income taxes

296

249

263

214

275

1,001

667

Income taxes

(70)

(45)

(64)

(47)

(62)

(218)

(158)

Net income

$       226

$       204

$       199

$       167

$       213

$       783

$       509

Weighted average number of diluted shares

117.3

118.3

119.4

119.4

120.0

119.3

120.1

Diluted EPS

$      1.93

$      1.72

$      1.67

$      1.40

$      1.78

$      6.56

$      4.24

Book value per basic share

$     29.21

$     29.01

$     28.53

$     27.99

$     27.50

$     29.01

$     26.74

Return on assets

3.4 %

3.0 %

3.0 %

2.5 %

3.3 %

2.9 %

2.0 %

Change in allowance for finance receivable losses

$        46

$      (50)

$      (61)

$      (66)

$        17

$     (160)

$     (194)

Net charge-offs

(511)

(492)

(427)

(445)

(473)

(1,837)

(1,846)

Provision for finance receivable losses

$     (465)

$     (542)

$     (488)

$     (511)

$     (456)

$   (1,997)

$   (2,040)

Note:

Quarters may not sum to fiscal year due to rounding.

OneMain Holdings, Inc.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

Assets

Cash and cash equivalents

$       834

$       914

$       658

$       769

$       627

Investment securities

1,614

1,590

1,657

1,683

1,670

Net finance receivables

24,447

24,833

24,465

23,870

23,328

Unearned insurance premium and claim reserves

(771)

(791)

(783)

(764)

(747)

Allowance for finance receivable losses

(2,819)

(2,865)

(2,815)

(2,754)

(2,688)

Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance
receivable losses

20,857

21,177

20,867

20,352

19,893

Restricted cash and restricted cash equivalents

728

699

748

742

736

Goodwill

1,474

1,474

1,474

1,474

1,474

Other intangible assets

281

282

284

285

285

Other assets

1,230

1,252

1,297

1,323

1,344

Total assets

$    27,018

$    27,388

$    26,985

$    26,628

$    26,029

Liabilities and Shareholders' Equity

Long-term debt

$    22,396

$    22,694

$    22,338

$    22,053

$    21,494

Insurance claims and policyholder liabilities

566

576

578

579

567

Deferred and accrued taxes

55

35

42

18

19

Other liabilities

624

682

649

652

669

Total liabilities

23,641

23,987

23,607

23,302

22,749

Common stock

1

1

1

1

1

Additional paid-in capital

1,750

1,757

1,750

1,745

1,734

Accumulated other comprehensive loss

(53)

(41)

(47)

(51)

(65)

Retained earnings

2,680

2,579

2,500

2,425

2,384

Treasury stock

(1,001)

(895)

(826)

(794)

(774)

Total shareholders' equity

3,377

3,401

3,378

3,326

3,280

Total liabilities and shareholders' equity

$    27,018

$    27,388

$    26,985

$    26,628

$    26,029

OneMain Holdings, Inc.

CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED)

As of

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

Liquidity

Cash and cash equivalents

$       834

$       914

$       658

$       769

$       627

Cash and cash equivalents unavailable for general corporate purposes

155

176

251

185

139

Unencumbered receivables

11,409

11,837

10,867

9,709

10,163

Undrawn conduit facilities

5,874

5,999

5,999

5,999

5,999

Undrawn corporate revolver

1,100

1,075

1,075

1,125

1,125

Private secured term funding available

—

—

—

—

725

Undrawn credit card revolving variable funding note facilities

500

400

400

400

400

Drawn conduit facilities

1

1

1

1

1

Net adjusted debt

$    21,545

$    21,783

$    21,758

$    21,297

$    20,833

Total Shareholders' equity

$     3,377

$     3,401

$     3,378

$     3,326

$     3,280

Accumulated other comprehensive loss

53

41

47

51

65

Goodwill

(1,474)

(1,474)

(1,474)

(1,474)

(1,474)

Other intangible assets

(281)

(282)

(284)

(285)

(285)

Junior subordinated debt

173

173

172

172

172

Adjusted tangible common equity

1,848

1,859

1,839

1,790

1,758

Allowance for finance receivable losses, net of tax *

2,114

2,149

2,111

2,065

2,016

Adjusted capital

$     3,962

$     4,008

$     3,950

$     3,855

$     3,774

Net leverage (net adjusted debt to adjusted capital)

5.4x

5.4x

5.5x

5.5x

5.5x

*

Income taxes assume a 25% tax rate.

OneMain Holdings, Inc.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Consumer & Insurance

$       293

$       247

$       261

$       211

$       270

$       988

$       707

Other

—

—

(2)

(1)

1

(4)

(1)

Segment to GAAP adjustment

3

2

4

4

4

17

(39)

Income before income taxes - GAAP basis

$       296

$       249

$       263

$       214

$       275

$     1,001

$       667

Consumer & Insurance pretax income

$       293

$       247

$       261

$       211

$       270

$       988

$       707

Net loss on repurchases and repayments of debt

3

—

39

20

5

65

33

Restructuring charges

7

1

2

—

—

4

29

Other (1)

2

2

1

—

—

— %

3

13

Consumer & Insurance adjusted pretax income (non-GAAP)

$       305

$       250

$       303

$       231

$       275

$     1,060

$       782

Reconciling items (2)

$        (9)

$        (1)

$      (38)

$      (16)

$        (1)

$      (55)

$     (114)

Consumer & Insurance

$    24,463

$    24,853

$    24,490

$    23,901

$    23,365

$    24,853

$    23,598

Segment to GAAP adjustment

(16)

(20)

(25)

(31)

(37)

(20)

(44)

Net finance receivables - GAAP basis

$    24,447

$    24,833

$    24,465

$    23,870

$    23,328

$    24,833

$    23,554

Consumer & Insurance

$     2,821

$     2,868

$     2,818

$     2,758

$     2,693

$     2,868

$     2,710

Segment to GAAP adjustment

(2)

(3)

(3)

(4)

(5)

(3)

(5)

Allowance for finance receivable losses - GAAP basis

$     2,819

$     2,865

$     2,815

$     2,754

$     2,688

$     2,865

$     2,705

Note:

Quarters may not sum to fiscal year due to rounding.

(1)

Includes strategic activities and other items.

(2)

Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality.

OneMain Holdings, Inc.

CONSUMER & INSURANCE SEGMENT (UNAUDITED) (Non-GAAP)

Quarter Ended

Fiscal Year

(unaudited, in millions, except per share amounts)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Interest income

$     1,383

$     1,411

$     1,386

$     1,333

$     1,301

$     5,432

$     4,965

Interest expense

(322)

(323)

(320)

(317)

(311)

(1,270)

(1,181)

Net interest income

1,061

1,088

1,066

1,016

990

4,162

3,784

Provision for finance receivable losses

(465)

(542)

(488)

(511)

(456)

(1,999)

(1,981)

Net interest income after provision for finance receivable losses

596

546

578

505

534

2,163

1,803

Insurance

112

113

112

111

110

445

445

Investment

23

22

26

24

26

98

108

Gain on sales of finance receivables

16

14

17

17

16

64

23

Other

47

46

45

43

39

175

146

Total other revenues

198

195

200

195

191

782

722

Operating expenses

(437)

(443)

(427)

(415)

(401)

(1,687)

(1,554)

Insurance policy benefits and claims

(52)

(48)

(48)

(54)

(49)

(198)

(189)

Total other expenses

(489)

(491)

(475)

(469)

(450)

(1,885)

(1,743)

Adjusted pretax income (non-GAAP)

305

250

303

231

275

1,060

782

Income taxes *

(76)

(62)

(76)

(58)

(68)

(265)

(195)

Adjusted net income (non-GAAP)

$       229

$       188

$       227

$       173

$       207

$       795

$       587

Weighted average number of diluted shares

117.3

118.3

119.4

119.4

120.0

119.3

120.1

C&I adjusted diluted EPS

$      1.95

$      1.59

$      1.90

$      1.45

$      1.72

$      6.66

$      4.89

Note:

Quarters may not sum to fiscal year due to rounding.

*

Income taxes assume a 25% tax rate.

OneMain Holdings, Inc.

CONSUMER & INSURANCE SEGMENT METRICS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Net finance receivables - personal loans

$    20,918

$    21,430

$    21,225

$    20,814

$    20,469

$    21,430

$    20,833

Net finance receivables - auto finance

2,562

2,487

2,431

2,335

2,220

2,487

2,122

Net finance receivables - consumer loans

23,480

23,917

23,656

23,149

22,689

23,917

22,955

Net finance receivables - credit cards

983

936

834

752

676

936

643

Net finance receivables

$    24,463

$    24,853

$    24,490

$    23,901

$    23,365

$    24,853

$    23,598

Allowance for finance receivable losses

$     2,821

$     2,868

$     2,818

$     2,758

$     2,693

$     2,868

$     2,710

Allowance ratio

11.53 %

11.54 %

11.51 %

11.54 %

11.52 %

11.54 %

11.48 %

Net finance receivables

24,463

24,853

24,490

23,901

23,365

24,853

23,598

Finance receivables serviced for our whole loan sale partners

1,588

1,458

1,395

1,316

1,232

1,458

1,141

Managed receivables

$    26,051

$    26,311

$    25,885

$    25,217

$    24,597

$    26,311

$    24,739

Average net finance receivables - personal loans

$    21,168

$    21,404

$    21,045

$    20,637

$    20,660

$    20,937

$    20,301

Average net finance receivables - auto finance

2,515

2,462

2,390

2,278

2,166

2,324

1,662

Average net finance receivables - consumer loans

23,683

23,866

23,435

22,915

22,826

23,261

21,963

Average net finance receivables - credit cards

962

879

803

719

668

767

477

Average net receivables

24,645

24,745

24,238

23,634

23,494

24,028

22,440

Average receivables serviced for our whole loan sale partners

1,540

1,434

1,366

1,285

1,196

1,320

1,113

Average managed receivables

$    26,185

$    26,179

$    25,604

$    24,919

$    24,690

$    25,348

$    23,553

Note:

Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum due to rounding.

OneMain Holdings, Inc.

CONSUMER & INSURANCE KEY METRICS (UNAUDITED) (Non-GAAP)

Quarter Ended

Fiscal Year

(unaudited, in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Adjusted pretax income (non-GAAP)

$       305

$       250

$       303

$       231

$       275

$    1,060

$      782

Provision for finance receivable losses

465

542

488

511

456

1,999

1,981

Net charge-offs

(512)

(492)

(428)

(446)

(473)

(1,841)

(1,849)

Change in C&I allowance for finance receivable losses (non-GAAP)

(47)

50

60

65

(17)

158

132

Pretax capital generation (non-GAAP)

258

300

363

296

258

1,218

914

Capital generation, net of tax* (non-GAAP)

$       194

$       225

$       272

$       222

$       194

$       913

$       685

C&I average net receivables

$  24,645

$  24,745

$  24,238

$  23,634

$  23,494

$  24,028

$  22,440

Capital generation return on receivables  (non-GAAP)

3.2 %

3.6 %

4.5 %

3.8 %

3.3 %

3.8 %

3.1 %

Note:

Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum to fiscal year due to rounding.

*

Income taxes assume a 25% rate.

OneMain Holdings, Inc.

CONSUMER & INSURANCE CONSUMER LOANS METRICS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Gross charge-offs

$       567

$       540

$       480

$       496

$       525

$     2,043

$     2,080

Recoveries

(98)

(86)

(86)

(85)

(85)

(342)

(307)

Net charge-offs

$       469

$       454

$       394

$       411

$       440

$     1,701

$     1,773

Gross charge-off ratio

9.70 %

8.98 %

8.13 %

8.68 %

9.34 %

8.78 %

9.34 %

Recovery ratio

(1.68 %)

(1.42 %)

(1.45 %)

(1.49 %)

(1.52 %)

(1.47 %)

(1.39 %)

Net charge-off ratio

8.02 %

7.56 %

6.67 %

7.19 %

7.83 %

7.31 %

7.94 %

Average net receivables

$    23,683

$    23,866

$    23,435

$    22,915

$    22,826

$    23,261

$    21,963

Yield

22.5 %

22.5 %

22.6 %

22.6 %

22.4 %

22.5 %

22.1 %

Origination volume

$      3,104

$      3,609

$      3,889

$      3,907

$      3,022

$    14,427

$    13,321

30+ delinquency

$      1,260

$      1,399

$      1,312

$      1,197

$      1,170

$      1,399

$      1,322

90+ delinquency

$         594

$         596

$         556

$         491

$         540

$         596

$         579

30-89 delinquency

$         666

$         803

$         756

$         706

$         630

$         803

$         743

30+ delinquency ratio

5.37 %

5.85 %

5.55 %

5.17 %

5.16 %

5.85 %

5.76 %

90+ delinquency ratio

2.53 %

2.49 %

2.35 %

2.12 %

2.38 %

2.49 %

2.52 %

30-89 delinquency ratio

2.84 %

3.36 %

3.20 %

3.05 %

2.77 %

3.36 %

3.24 %

Note:

Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I consumer loan net finance receivables. Amounts may not sum due to rounding.

Defined Terms

Adjusted capital: adjusted tangible common equity + allowance for finance receivable losses (ALLL), net of tax Adjusted tangible common equity (TCE): total shareholders' equity – accumulated other comprehensive loss – goodwill – other intangible assets + junior subordinated debt Auto finance: financing at the point of purchase through a network of auto dealerships Available cash and cash equivalents: cash and cash equivalents – cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposes Average assets: average of monthly average assets (assets at the beginning and end of each month divided by two) in the period Average managed receivables: C&I average net receivables + average receivables serviced for our whole loan sale partners C&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) /  weighted average diluted  shares Capital generation: C&I adjusted net income – change in C&I allowance for finance receivable losses, net of tax Capital generation return on receivables*:  annualized capital generation / C&I average net receivables Consumer loans: personal loans and auto finance Finance receivables serviced for our whole loan sale partners: unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program Gross charge-off ratio*: annualized gross charge-offs / average net receivables Managed receivables: C&I net finance receivables + finance receivables serviced for our whole loan sale partners + auto finance loans originated by third parties Net adjusted debt: long-term debt – junior subordinated debt – available cash and cash equivalents Net charge-off ratio*: annualized net charge-offs / average net receivables Net leverage: net adjusted debt / adjusted capital Opex ratio: annualized C&I operating expenses / average managed receivables Origination volume: loans originated during the period, including those originated and sold to our whole loan sale partners that we continue to service Other net revenue: other revenues – insurance policy benefits and claims expense Personal loans: loans secured by automobiles, other collateral or are unsecured and offered through our branch network, central operations, or digital platform Pretax capital generation: C&I pretax adjusted net income – change in C&I allowance for finance receivable losses Purchase volume: credit card purchase transactions + cash advances – returns Return on assets (ROA): annualized net income / average total assets Return on receivables (C&I ROR): annualized C&I adjusted net income / C&I average net receivables Total revenue: C&I interest income + C&I total other revenue Unencumbered receivables: unencumbered unpaid principal balance of consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude interest, fees, and closed accounts with balances *

Fiscal year 2024 adjusted for policy alignment associated with the Foursight acquisition.

OneMain Holdings, Inc.

Investor Contact:
Peter R. Poillon, 212-359-2432
[email protected]

Media Contact:
Howard Schloss, 202-236-5296
[email protected]

SOURCE OneMain Holdings, Inc.

For the quarter ended March 2026, OneMain Holdings (OMF - Free Report) reported revenue of $1.07 billion, up 6.9% over the same period last year. EPS came in at $1.95, compared to $1.72 in the year-ago quarter.

The reported revenue represents a surprise of -0.58% over the Zacks Consensus Estimate of $1.07 billion. With the consensus EPS estimate being $1.92, the EPS surprise was +1.75%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how OneMain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net charge-off ratio (Consumer and Insurance Segment): 8% versus the two-analyst average estimate of 8%.Net Interest Income: $1.07 billion versus $1.07 billion estimated by three analysts on average.Other income: $49 million versus the three-analyst average estimate of $62.39 million.Investment: $23 million versus the three-analyst average estimate of $25.24 million.Net interest income after provision for finance receivable losses: $600 million versus the three-analyst average estimate of $585.65 million.Total other revenues: $197 million compared to the $200.41 million average estimate based on three analysts.Insurance: $112 million compared to the $112.78 million average estimate based on three analysts.View all Key Company Metrics for OneMain here>>>

Shares of OneMain have returned +8.7% over the past month versus the Zacks S&P 500 composite's +10.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Accelerates Transition to SHOP-Dominant Overall Portfolio and Strengthens Balance Sheet Accelerates Transition to SHOP-Dominant Overall Portfolio and Strengthens Balance Sheet

The market is sleeping on two high-yielding opportunities that trade at deep discounts to fair value. Both companies have strong balance sheets, sound fundamentals, fully covered dividends, and are buying back stock. However, the market has recently sold off both of these opportunities, creating a great buy-the-dip opportunity for long-term-oriented income investors.

OneMain Holdings is upgraded to a strong buy, offering 20%+ upside and an 8% dividend yield. OMF's conservative underwriting, robust reserves (242% of delinquencies), and resilient employment trends support manageable credit risk despite inflationary pressures. Loan growth guidance remains at 6-9%, with net charge-offs expected in the upper half of the 7.4-7.9% range.