Consumer finance company OneMain Holdings (NYSE: OMF) will be reporting results this Wednesday before market hours. Here’s what you need to know.
OneMain met analysts’ revenue expectations last quarter, reporting revenues of $1.26 billion, up 6.6% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.
Is OneMain a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting OneMain’s revenue to grow 5.4% year on year, slowing from the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. OneMain has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at OneMain’s peers in the personal loan segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Happen Bank delivered year-on-year revenue growth of 5.8%, meeting analysts’ expectations, and FirstCash reported revenues up 29.4%, topping estimates by 4.1%. FirstCash traded down 6.6% following the results.
Read our full analysis of Happen Bank’s results here and FirstCash’s results here.
There has been positive sentiment among investors in the personal loan segment, with share prices up 7.2% on average over the last month. OneMain is down 2.2% during the same time and is heading into earnings with an average analyst price target of $68.21 (compared to the current share price of $60.97).
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