Provisions and expenses tied to what it called its fastest-ever originations growth pushed the student lender to a Q3 2026 loss; it now expects 2026 net charge-offs of $400m-$420m.
The New York lender blamed higher-for-longer interest rates; its Q3 2026 credit loss provision rose $58m from Q2, which it attributed mainly to higher rates, including on NYC rent-regulated loans.
The US heating, ventilation, air conditioning and electrical contractor reported Q3 2026 diluted EPS of $13.91, against $8.25 a year earlier, and operating cash flow of $1.01bn.
The ECB's September 2026 Consumer Expectations Survey also showed weaker growth expectations and a higher expected jobless rate, while three- and five-year inflation views held.