OneMain Holdings Inc (NYSE: OMF) stock lost over 4% on 30th April, 2019 (as of 3:00 pm GMT-4; Source: Google finance) after the company posted mixed results for the first quarter of FY 19. During the first quarter of 2019, Other generated an adjusted pretax loss of $2 million, compared to an adjusted pretax loss of $10 million in the prior year quarter. A&S broke even in the first quarter of 2019 on an adjusted pretax income basis, compared to adjusted pretax income of $1 million prior year quarter.
OMF has reported pretax income of $202 million and net income of $152 million for the first quarter of 2019, compared to $168 million and $124 million, respectively, in the prior year quarter. C&I has posted the adjusted pretax income of $246 million and adjusted net income of $187 million for the first quarter of 2019, compared to $211 million and $160 million, respectively, in the prior year quarter. OMF in the first quarter of FY 19 has reported the adjusted earnings per share of $1.37while adjusted revenue growth of 35.9 percent to $720 million in the first quarter of FY 19
OMF has declared a regular quarterly dividend of $0.25 per share, payable on June 14, 2019 to record holders of our common stock as of the close of business on May 29, 2019.
Additionally, originations had totaled $2.6 billion in the first quarter of 2019, which is up 2% from $2.5 billion in the prior year quarter. The percentage of secured originations was 56% in the first quarter of 2019, up from 44% in the prior year quarter.
In addition, during the first quarter of 2019, the company had sold a portion of our real estate loans held for sale. The remaining real estate loans held for sale are carried at $79 million compared to the unpaid principal balance of $136 million.
Meanwhile, as of March 31, 2019, OMF had principal debt balances outstanding of $16.5 billion, 50% of which was secured and 50% of which was unsecured. The company had $1.7 billion of cash and cash equivalents, that included $312 million of cash and cash equivalents held at the regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes. The company had $6.2 billion of undrawn revolving conduit facilities and $6.9 billion of unencumbered personal loans.