By Elias Schisgall

Sallie Mae lifted its full-year outlook for profitability after reporting a rise in its bottom line during the first quarter.

The student loan lender on Thursday said it now expects full-year earnings per share between $3.10 and $3.20. Analysts polled by FactSet are expecting $2.77 a share, and Sallie Mae had previously guided for a range of $2.70 to $2.80 a share.

The company reported a profit of $308 million, or $1.54 a share, compared with a profit of $304.5 million, or $1.40 a share, a year earlier.

Net interest income held roughly steady at $375.4 million, compared with $375 million a year prior. Sallie Mae's net interest margin rose to 5.29% from 5.27%.

Analysts were expecting a reported profit of $1.12 a share on net interest income of $358.3 million, according to FactSet.

Private education loan originations grew 5% year over year, the company said.

Shares of Sallie Mae, formally SLM Corp., rose 1.8% to $23.85 in after-hours trading, after closing up 1.4% at $23.42 during the regular trading session. At close, the stock was down 14.6% year to date.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 23, 2026 16:48 ET (20:48 GMT)

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