OneMain Holdings Inc Q3 2020 Earnings Call Summary

Edited Brief of OMF.N earnings conference call or presentation 27-Oct-20 12:00pm GMT

...A. Highlights: During 3Q, continued to ensure that employees are safe and Co. meets the needs of customers during this period of uncertainty. 1. 2. Prudent historical underwriting and conservative balance sheet combined with actions taken to innovate and strategically evolve business over the last 10 months led to strong operating performance through the pandemic and enabled Co. to serve and support customers effectively during these unprecedented times. Financial results demonstrated this and reflected strength across the core drivers of business. a. 3. Early and late stage delinquencies improved YoverY by more than 30 BP and net charge-offs remained essentially flat with last year. 4. Combination of improved customer demand and initiatives Co. has undertaken supported a return to sequential growth of Co.'s portfolio by about $94m. 5. C&I adjusted net income $294m; significant improvement sequentially and 22% increase over last year's 3Q. 6. Co. runs its business based on capital generation,...

Brief