=OneMain Holdings (OMF) reported earnings on Mon 7 Nov 2016 (a/h)

EVANSVILLE, Ind.--OneMain Holdings, Inc. (OMF) today reported income before provision for income taxes of $33 million and net income of $25 million, or $0.19 per diluted share for the third quarter of 2016, compared to a loss of $0.10 per diluted share in the prior year.

Jay Levine, President and CEO of OneMain Holdings, Inc. said, “Our third quarter results reflect the progress we have made on our strategic priorities and the integration of OneMain. In fact, our Consumer and Insurance segment adjusted earnings per diluted share more than doubled from last year.”

Levine added, “We continued to grow receivables, manage credit risk, further strengthen our liquidity and balance sheet, and realize synergies from the acquisition of OneMain. We also accomplished the significant task of combining the two branch networks under a single brand, which will further enhance our name recognition and our ability to offer competitive products to our customers.”

Consumer and Insurance Segment

Consumer and Insurance income before provision for income taxes on a Segment Accounting Basis was $179 million for the third quarter of 2016. Consumer and Insurance adjusted earnings per diluted share was $0.90* for the third quarter of 2016 versus $0.36* for the prior year quarter. Excluding certain acquisition-related transaction and integration expenses of $17 million, Consumer and Insurance adjusted pretax earnings were $196 million* and Consumer and Insurance adjusted net income was $122 million* for the third quarter of 2016.

Consumer and Insurance net finance receivables reached $13.5 billion at September 30, 2016, and Consumer and Insurance net finance receivables per branch totaled $7.4 million at September 30, 2016.

Consumer and Insurance net interest income was $636 million in the third quarter of 2016. Consumer and Insurance yield was 24.51% and risk adjusted yield, which represents yield less net charge-off ratio, was 18.28% in the third quarter of 2016.

The net charge-off ratio was 6.23% in the third quarter of 2016.