Why Navient (NAVI) Shares Are Trading Higher Afterhours - Navient (NASDAQ:NAVI)

Navient Corp NAVI reported second-quarter adjusted core earnings EPS of $0.92, beating the consensus of $0.79.
Q2 Net interest income was $321 million (-0.3% year-over-year); and Other Income totaled $134 million (-23.9% Y/Y).
Federal education Loan Q2 net income was $110 million, compared to $113 million a year ago. FFELP net interest margin was 1.11% vs. 0.97% a year ago.
The Consumer Lending segment's net income was $71 million, compared to $6 million. Originated $420 million of Private Education Loans compared to $1.3 billion.
Business Processing segment revenue totaled $87 million (-33.1% Y/Y), and EBITDA margin declined to 16% from 30% in 2Q21. Net income was $10 million compared to $29 million a year ago.
Navient repurchased 6.9 million shares during the quarter for $105 million.
The adjusted tangible equity ratio was 7.5%.
Price Action: NAVI shares are trading higher by 3% at $15.80 during the post-market session on Tuesday.

Navient Shares Gain Post Q2 Results