OneMain Holdings, Inc. (OMF) SEC Filings & Earnings Calls

Increased leverage from new debt; interest expense will rise.

“Issuance of $7.125% Senior Notes due 2034.”

Increased leverage from new debt issuance

“Issuance of $600M in senior notes increases debt obligations.”

Credit deterioration in nonprime portfolio

“Net charge-off ratio increased to 8.20% from 7.57% YoY, and provision for losses increased 19%.”

Macroeconomic sensitivity

“Our financial condition and results of operations could be affected by macroeconomic conditions, including changes in unemployment, inflation, interest rates, consumer confidence, and geopolitical actions.” · word for word

Rising net charge-offs and provision for losses indicate credit deterioration in the nonprime consumer loan portfolio.

“Net charge-offs 7.77% vs 7.19% prior year; provision for finance receivable losses increased 19% to $610M.”

Interest expense increased 3% due to higher debt to support receivables growth, potentially pressuring margins if credit costs continue to rise.

“Interest expense was $326 million in the second quarter of 2026, up 3% from $317 million in the prior year quarter.” · word for word

Credit quality deterioration with higher delinquencies and charge-offs

“30+ day delinquency 5.37% vs 5.16% YoY; net charge-offs 8.02% vs 7.83% YoY”

Operating expense growth outpacing revenue growth

“Operating expense up 9% to $437M vs revenue up 6% to $1.6B”

Rising net charge-offs and delinquencies

“Net charge-off ratio 8.41 % (2026) vs 8.16 % (2025); 30-89 Delinquency ratio 2.83 % (2026) vs 2.77 % (2025)” · word for word

Macroeconomic sensitivity to unemployment and inflation

“Our financial condition and results of operations could be affected by macroeconomic conditions, including changes in unemployment, inflation, interest rates, consumer confidence, and geopolitical actions.” · word for word

Credit Performance Risk

“Actively managed credit performance, achieving approximately 46 basis points of loss improvement with C&I Net Charge-offs* decreasing to 7.7%, driven by disciplined credit box adjustments and intensified servicing and collections efforts;” · word for word

Economic Sensitivity

“Our results support our long-term value creation strategy even in an uncertain economic environment.” · word for word

Credit risk from nonprime borrowers

“Our customers are primarily considered nonprime and therefore a higher credit risk” · word for word

Regulatory risk from CFPB oversight

“Starting in 2023, the CFPB has exercised supervisory authority over the Company’s entire consumer finance business” · word for word

Credit risk: 30+ day delinquency ratio increased to 5.85% from 5.76% a year ago, though net charge-offs improved.

“30+ days delinquency ratio 5.85%... compared to 5.76% in the prior year quarter”

Increased leverage from new debt issuance; interest expense burden.

“Issuance of 6.750% Senior Notes due 2033.”

Increased leverage and interest expense from $1B debt issuance at 6.75% coupon.

“$1.0 billion aggregate principal amount of 6.750% Senior Notes due 2033; proceeds to repay secured facilities.” · word for word

Credit risk from macroeconomic conditions

“Our methodology to estimate expected credit losses uses recent macroeconomic forecasts, which include forecasts for unemployment. We also consider inflationary pressures, consumer confidence levels, and elevated interest rates that may continue to impact the economic outlook.” · word for word

Allowance for losses may increase

“We may experience further changes to the macroeconomic assumptions within our forecast, as well as changes to our loan loss performance outlook, both of which could lead to further changes in our allowance for finance receivable losses, allowance ratio, and provision for finance receivable losses.” · word for word

Credit risk remains elevated but improving, with net charge-offs declining and delinquency ratios improving.

“Net charge-offs 6.67% compared to 7.33% in Q3 2024. 30+ days delinquency ratio improved to 5.55% from 5.63%.”

Interest expense increased 7% due to higher debt to support receivable growth.

“Interest expense was $320 million in the third quarter of 2025, up 7% from $299 million in the prior year quarter, due to an increase in average debt to support our receivables growth.” · word for word