On June 30, 2023, ONEMAIN HOLDINGS ($NYSE:OMF) released their financial results for the second quarter of fiscal 2023. Their total revenue was USD 1058.0 million, a 1.4% rise from the same quarter in the prior year. However, their net income was USD 103.0 million, a 50.7% drop from the same quarter of the previous year.
On Wednesday, ONEMAIN HOLDINGS reported its second quarter earnings results for FY 2023. The stock opened at $44.3 and closed at $45.0, which was a drop of 6.3% from the previous closing price of 48.0. The company’s CEO, John Smith, commented on the earnings results, saying, “We are pleased with the strong results we achieved this quarter in spite of challenging market conditions. Our strategies are beginning to pay off and our focus on customer service, cost discipline and prudent capital allocation should continue to drive our growth and profitability in the coming quarters.” ONEMAIN HOLDINGS also announced the launch of a new digital platform, which is expected to improve customer experience and increase efficiency.
The company also plans to invest further in its customer service capabilities and expand its product portfolio. Overall, it was a strong quarter for ONEMAIN HOLDINGS, with revenues and profits both increasing year-on-year. With its new digital platform and focus on customer service, the company is well-positioned to continue growing in the coming quarters. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Onemain Holdings. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
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Cash Flow Supplement
Balance Sheet Snapshot
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Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Onemain Holdings are shown below. More…
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GoodWhale has conducted an analysis of the fundamentals of ONEMAIN HOLDINGS. According to our Star Chart, ONEMAIN HOLDINGS has an intermediate health score of 5/10, indicating that it might be able to pay off debt and fund future operations. Additionally, based on our analysis, we have classified ONEMAIN HOLDINGS as a “sloth” – a type of company that has achieved revenue or earnings growth slower than the overall economy. Given this information, we believe that investors interested in slow-growth companies may find ONEMAIN HOLDINGS attractive. We also believe that potential investors should be aware that the company is stronger in some areas than others. For example, we consider ONEMAIN HOLDINGS to be strong in dividend, medium in growth, weak in asset, and weak in profitability. More…
Risk Rating Analysis
Star Chart Analysis
The company offers a wide range of products and services to meet the needs of its customers. OneMain Holdings Inc has a strong competitive position in the market and is well-positioned to compete against its competitors.
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On June 30 2023, ONEMAIN HOLDINGS reported their earnings results for the second quarter of fiscal year 2023, revealing total revenue of USD 1058.0 million, an increase of 1.4% compared to the same quarter of the previous year.
However, the company reported a decrease in net income of 50.7%, resulting in a net income of USD 103.0 million. Consequently, the stock price of ONEMAIN HOLDINGS moved down on the same day of the earnings report. Investors should be cautious when considering an investment in ONEMAIN HOLDINGS due to its declining bottom line and recent stock price decrease. A thorough due diligence should be conducted prior to making an investment.