Navient (NAVI) Misses on Q4 Earnings, Plans Strategic Actions

Published on 31 Jan 2024 on Zacks via Yahoo Finance

Navient (NAVI) Misses on Q4 Earnings, Plans Strategic Actions

Navient Corporation NAVI reported fourth-quarter 2023 adjusted earnings per share of 70 cents, missing the Zacks Consensus Estimate of 77 cents. Also, the bottom line was lower than the prior-year quarter’s 76 cents.

Results were adversely impacted by a fall in total other income and core net interest income (NII). Further, a rise in expenses acted as a headwind. Nonetheless, strategic actions announced by the company will support its financials in the upcoming period.

Navient’s GAAP net loss was $28 million. It recorded net income of $105 million in the prior-year quarter.

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Navient (NAVI) Misses on Q4 Earnings, Plans Strategic Actions

NASDAQ.NAVI price evolution

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