ONEMAIN FINANCE CORP
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 31, 2025
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Segment Results
The results of OMFC are consolidated into the results of OMH. Due to the nominal differences between OMFC and OMH, content throughout this section relates only to OMH. See Note 1 of the Notes to the Condensed Consolidated Financial Statements included in this report for further information.
See Note 13 of the Notes to the Condensed Consolidated Financial Statements included in this report for a description of our segment and methodologies used to allocate revenues and expenses to our C&I segment and for reconciliations of segment total to condensed consolidated financial statement amounts.
CONSUMER AND INSURANCE
The following table below presents OMH’s adjusted pretax income and selected financial statistics for C&I on an adjusted Segment Accounting Basis.
| At or for theThree Months Ended September 30, | At or for theNine Months Ended September 30, | |||
|---|---|---|---|---|
| (dollars in millions) | 2025 | 2024 | 2025 | 2024 |
| Interest income | $1,386 | $1,271 | $4,021 | $3,653 |
| Interest expense | 320 | 299 | 947 | 871 |
| Provision for finance receivable losses | 488 | 512 | 1,456 | 1,458 |
| Net interest income after provision for finance receivable losses | 578 | 460 | 1,618 | 1,324 |
| Other revenues | 200 | 181 | 586 | 545 |
| Other expenses | 475 | 439 | 1,395 | 1,272 |
| Adjusted pretax income (non-GAAP) | $303 | $202 | $809 | $597 |
| Selected Financial Statistics (a) | ||||
| Total finance receivables: | ||||
| Net finance receivables | $24,490 | $23,128 | $24,490 | $23,128 |
| Average net receivables | $24,238 | $22,860 | $23,789 | $22,112 |
| Gross charge-off ratio (b) | 8.45% | 8.89% | 9.06% | 9.59% |
| Recovery ratio | (1.45)% | (1.37)% | (1.48)% | (1.40)% |
| Net charge-off ratio (b) | 7.01% | 7.52% | 7.57% | 8.20% |
| At or for theThree Months Ended September 30, | At or for theNine Months Ended September 30, | |||
|---|---|---|---|---|
| (dollars in millions) | 2025 | 2024 | 2025 | 2024 |
| Selected Financial Statistics, continued (a) | ||||
| Personal loans: | ||||
| Net finance receivables | $21,225 | $20,569 | $21,225 | $20,569 |
| Origination volume | $3,520 | $3,402 | $9,733 | $9,048 |
| Number of accounts | 2,374,057 | 2,363,314 | 2,374,057 | 2,363,314 |
| Number of accounts originated | 336,458 | 323,755 | 912,705 | 867,560 |
| Auto finance: | ||||
| Net finance receivables | $2,431 | $2,009 | $2,431 | $2,009 |
| Origination volume | $369 | $310 | $1,085 | $769 |
| Number of accounts | 144,004 | 120,341 | 144,004 | 120,341 |
| Number of accounts originated | 16,705 | 14,648 | 49,107 | 39,428 |
| Consumer loans: | ||||
| Net finance receivables | $23,656 | $22,578 | $23,656 | $22,578 |
| Yield | 22.55% | 22.06% | 22.51% | 22.03% |
| Origination volume | $3,889 | $3,712 | $10,818 | $9,817 |
| Number of accounts | 2,518,061 | 2,483,655 | 2,518,061 | 2,483,655 |
| Number of accounts originated | 353,163 | 338,403 | 961,812 | 906,988 |
| Net charge-off ratio (b) | 6.67% | 7.33% | 7.22% | 8.05% |
| 30-89 Delinquency ratio | 3.20% | 3.14% | 3.20% | 3.14% |
| Credit cards: | ||||
| Net finance receivables | $834 | $550 | $834 | $550 |
| Purchase volume | $318 | $236 | $872 | $622 |
| Number of open accounts | 993,238 | 710,577 | 993,238 | 710,577 |
(a) See “Glossary” at the beginning of this report for formulas and definitions of our key performance ratios.
(b) The calculations for the nine months ended September 30, 2024 have been adjusted for policy alignment associated with the Foursight Acquisition. See Note 4 of the Notes to the Consolidated Financial Statements in Part II - Item 8 of our Annual Report for additional information.
Comparison of Adjusted Pretax Income for Three and Nine Months Ended September 30, 2025 and 2024
Interest income increased $115 million or 9% and $368 million or 10% for the three and nine months ended September 30, 2025 when compared to the same periods in 2024 due to growth in average net receivables and an increase in yield.
Interest expense increased $21 million or 7% for the three months ended September 30, 2025 when compared to the same period in 2024 due to an increase in average debt to support our receivables growth.
Interest expense increased $76 million or 9% for the nine months ended September 30, 2025 when compared to the same period in 2024 due to an increase in average debt to support our receivables growth and a higher average cost of funds.
Provision for finance receivable losses decreased $24 million or 5% for the three months ended September 30, 2025 when compared to the same period in 2024 due to a larger build in the allowance for finance receivable losses in the prior period.
Provision for finance receivable losses remained consistent for the nine months ended September 30, 2025 when compared to the same period in 2024 due to lower net charge-offs, offset by growth in receivables.
Other revenues increased $19 million or 11% for the three months ended September 30, 2025 when compared to the same period in 2024 due to a higher gain on sales of finance receivables.
Other revenues increased $41 million or 8% for the nine months ended September 30, 2025 when compared to the same period in 2024 due to a higher gain on sales of finance receivables and an increase in credit card revenue from growth in receivables, partially offset by a decrease in investment revenue due to declining interest rates and lower average corporate cash balances.
Other expenses increased $36 million or 8% and $123 million or 10% for the three and nine months ended September 30, 2025 when compared to the same periods in 2024 driven by increases in salaries and benefits expense and general operating expenses due to growth in receivables and our strategic investments in the business.
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