OneMain Holdings said second-quarter 2026 pretax income fell to $196 million from $214 million a year earlier, while net income declined to $152 million from $167 million. Diluted earnings per share came in at $1.32, down from $1.40 in the prior-year quarter.
The company’s consumer and insurance segment reported adjusted pretax income of $201 million, compared with $231 million a year ago, and adjusted net income of $151 million versus $173 million. Adjusted diluted EPS for the segment was $1.31, down from $1.45.
Despite the profit decline, OneMain’s managed receivables reached $26.9 billion at June 30, up 7% from $25.2 billion a year earlier. Consumer loan originations rose 10% to $4.3 billion from $3.9 billion.
Revenue increased to $1.6 billion from $1.5 billion, driven by higher receivables and improved portfolio yield. Interest income climbed 6% to $1.4 billion from $1.3 billion. Interest expense increased 3% to $326 million from $317 million, reflecting higher average debt used to support receivable growth.
The provision for finance receivable losses rose to $610 million from $511 million a year earlier. Operating expense increased 6% to $439 million from $415 million, as the company pointed to receivable growth and strategic investments.
Capital generation improved to $229 million from $222 million in the prior-year quarter. Management said the gain was driven by receivable growth and yield improvement, partly offset by higher net charge-offs.
Credit metrics were mixed. The consumer loans 30+ delinquency ratio was 5.17%, unchanged from a year earlier and down from 5.37% in the first quarter. The 90+ delinquency ratio was 2.15%, up from 2.12% a year earlier but down from 2.53% in the first quarter. Net charge-offs were 7.77%, up from 7.19% a year earlier, but below 8.02% in the first quarter.
At June 30, principal debt outstanding stood at $23.1 billion, with 52% secured. Cash and cash equivalents totaled $567 million, including $171 million that was unavailable for general corporate purposes. OneMain also cited $1.0 billion of undrawn unsecured revolver capacity, $6.5 billion of undrawn capacity under revolving conduit and credit card funding facilities, and $11.6 billion of unencumbered receivables.
The board declared a quarterly dividend of $1.05 per share, payable August 14 to shareholders of record August 10. During the quarter, the company repurchased about 576,000 shares for $32 million. Today the company's shares have moved 0.76% to a price of $62.715. Check out the company's full 8-K submission here.
