Springleaf Holdings Turns To Profit In Q4 - Quick Facts

(RTTNews) - Springleaf Holdings Inc. (LEAF) reported that its net income attributable to the company for the fourth quarter of 2013 was $13.66 million or $0.12 per share, compared with a net loss of $80.78 million, or $0.81 per share in the fourth quarter of 2012.

Core Earnings for its Core Consumer operations for the quarter were $48 million, versus $9 million in the prior year quarter, and Core Earnings per share were $0.42 for the fourth quarter versus $0.09 in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income was $360.37 million, higher than prior year's $178.74 million. Total other revenues for the quarter grew to $39.48 million from the prior year's $20.59 million.

The company has agreed to sell to three different parties a total of approximately $1.0 billion of mortgage loans serviced by PennyMac. The sale is expected to generate a gain of approximately $55 million, with closing anticipated by March 31, 2014. This transaction reflects an acceleration of the liquidation of the legacy mortgage portfolio through continued organic runoff and opportunistic sales.

For 2014, the company expects consumer net finance receivables at YE to be in the range of $3.60 billion - $3.75 billion. It expects SpringCastle pretax earnings to be between $85 million and $105 million.