OneMain Holdings, Inc. reported a pretax income of $164 million and net income of $126 million for the fourth quarter of 2024. These figures compare to $220 million and $165 million, respectively, in the prior year quarter. Diluted earnings per share for Q4 2024 were $1.05, down from $1.38 in the fourth quarter of 2023.
For the full year 2024, net income was $509 million, a decrease from $641 million in 2023, with diluted earnings per share at $4.24, down from $5.32. Despite the decline in profitability, managed receivables grew 11% to $24.7 billion by December 31, 2024, and consumer loan originations increased 16% to $3.5 billion in Q4 2024. Total revenue for the quarter was $1.5 billion, up 9% year-over-year.
Credit trends showed improvement, with the 30-plus days delinquency ratio decreasing to 5.76% at year-end 2024 from 6.16% in the prior year. Net charge-offs also slightly improved to 7.63% in Q4 2024 from 7.70% in Q4 2023. Operating expenses increased by 10% to $422 million, reflecting investments in data science, technology, and digital capabilities, as well as the Foursight acquisition.
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