good morning, everyone. and Thanks, Doug,
then Let year by recap our the we expect me focusing begin quarter, with what on for conclude XXXX. and briefly
fourth the revenue growth by solid high-quality growth. and trends, Our improved was quarter credit originations continuation in of highlighted
XXXX. the was partially quarter from net markets. down fourth per portfolio in metric million GAAP We our strong against in measure the was totaled XXXX. macroeconomic and $XXX we diluted $X.XX $XXX the diluted fourth higher year growth. primarily adjusted share, $X.XX net income of to also the funding on share fourth of charge-offs, $X.XX per per or from generation, business income interest quarter in share, manage XXXX, from the million continued completed which compares the quarter reflecting the environment quarter Capital net $XXX offset by the with of our $X.XX million, Fourth diluted income C&I current in of execution which down impact
strong growth by year X% XX.X% quarters. constructive support acquisition older in a competitive basis $X.X points levels taken, receivables organic was the strong quarter, the with or the OneMain originations to off. quarter year-over-year. continued These originations the from yield in trend the of this loan the originations XX%. up XX% growth were environment, origination a APR from loan partially year-over-year and at our drive of total for billion, on lower posture.
The auto business. third of XX contributed consumer originations efforts quarter, quarter yield from compared lower we've prior conservative along finished to our within yield seen billion, Managed basis points of up $X.X matures our actions XX.X% the will led book by to billion another several focused year the as ago. have XX Fourth up growth we benefiting Foursight underwriting consumer increase quarter, Fourth continued loss, was our This result continuing April The is $XX.X pricing roll XX% offset
our to billion year, largely the of the $XXX of consumer XXXX, by growth. $X.X XX% prior down product year. throughout and XXXX. look to was ago. driven a we $XX Interest higher revenue expense support from these in compared we to dependent fourth on an quarter in increase X% revenue was income ahead for Total billion, $X.X average million flat to loan up by debt year improvement funds receivables yields of year-over-year, X% to from quarter prior million of Other modest our mix compared year. expect $XXX levels, cost was versus grew million, up modestly growth driven receivables Interest As
of as Interest in net was the percent average receivables X.X%. quarter a expense
in interest during to of strategy more to rates As balance in we XXXX, XXXX. and year, was and rate quarter net allowance we is charge-offs was expense expect in detail in our million, issue range quarter. our volatility discuss there sheet momentarily.
Policyholder the in slightly. $XX a expense provision ] the expect million the comprising to receivables and largely impact. we minimizes to [ for million longer-dated this securities look $XXX $XXX I'll fixed Fourth quarterly forward, claims If benefits increase driven prior low the increase quarter expense increase losses flat by in $XX million, the million PBMC $XX
trends. to X Let's consumer loan look turn and delinquency Slide at
December down Our excluding the and XX- acquisition XX, Foursight trend points basis to we on shown year XX-plus than saw than as Slide XX points XX year-over-year, notably down the our was a also delinquency compared better pre-pandemic improved. were X.XX% to which at as saw is ago more we year delinquencies period, XX. XX-plus basis trends ago in delinquencies notably a XX-day
This first years. year-over-year in improvement on marks quarter recent the delinquency
X/X The XX% see in in are also XX, levels of front Slide lower these see higher the for our actively improved XX-plus receivables. book up front it as positive beyond.
On credit the delinquency. the trends of and comprise can signs with total momentum primary trends earnings And and portfolio, and total in still and driver of expectations credit We continued encouraging while XX% our you the vintages of managing XXXX the back performance makes now portfolio. loss in just of about remains is book our represents book line
average a noting and decisions portfolio, book slowing book our continue tighten loss see our the from we and some delinquency headwind And metrics credit, is it in expect extended our worth our as to As the portfolio. front which our credit that of back we there the originations, age improve. continues metrics has of to to grow transitioning percentage remains
and basis Slide charge-offs, net includes XX C&I net average Let's as the the receivables now third is cards, increases credit points in and increases pre-pandemic below saw we average the the in XXX point on point below X turn of shown to up XX. on from the approximate seen charge-offs well in XX quarter, approximate years basis reserves fourth were years. which basis we've last X.X% quarter, which
out growing is business, overall We improve relatively our are net loss returns. in risk-adjusted C&I that are card is year-over-year These comparisons. carries of improved impact still quarters the attractive while which portfolio and also ahead. to revenue encouraging and point in all seeing the the helpful from loss are our small, card modestly, signs Also, credit trends generates higher it the in we seeing higher an charge-offs performance
were charge-offs, early and away half net basis trajectory $XX delinquencies demonstrates losses first quarter, which the quarter seeing in quarter from above steady Recoveries levels. of well the improvement loan remained the Consumer strong points X.X% at or peak exclude at year-over-year. in X as million down This billion. X.X% and $X.X of losses the been of ended credit we XXXX. we go-forward loss move the card, clearly in have reserves Loan the in our pre-pandemic receivables,
Once at loans million mentioned, in credit that increased in reserves loss reserves portfolio, driven while carries higher it's loss our reserve worth include credit therefore, portfolio remains a XX.X%. impact here mentioning reserve. higher the our our steady as growth consumer card card is $XX and which, I receivables, quarter, of Our by the and again, by coverage
unemployment. are And trends we in inflation the uncertainty calculation, positive our given credit while and around continued we metrics, haven't reserve changes in the assumptions seeing macroeconomic our in made
term expect levels. around to reserve the near So coverage in our remain I see current
assess We improvement subsides levels portfolio, expect sustained down in credit coverage will reserve and the as see macro our uncertainty we our time. come the the of that performance when to continue will level in around and
XXXX Slide Foursight took of The million, generated compared OpEx the from by were a investment let's Now year the X.X% XX% low, up savings our year XX. and ratio to we turn expenses was resulting business. Operating driven first $XXX by quarter. expense full in abnormally actions ago, the the acquisition to in
latter you savings as of can business model growth improved OpEx had to As ratio the business we our continues the see efficiencies inherent in has Stepping operating can the portion have the a in year. see the and drive to said, that of we and reinvestment that you steadily expected reinvest XXXX. future, to in part back, and leverage, since our
Slide funding Now XX. on to turn let's and sheet balance our
improvements demand narrowest the at of in strong issuance. Since totaling X pricing a in each seen seen attracted a quarter, X.XXX%. investors both $XXX resulted new our XXXX, and of bonds. bonds on we've unsecured and an June the During issuance, with billion. spreads $X issued healthy and issued X.X-year we bond set And The we've unsecured returning for we have gradual unsecured offering million, ever
may million month just you ABS we've was paper extremely a our again, already have our strong. begun Also, for XXXX secured of Once cost funding under average for seen with auto earlier with this X-year $XXX X.X%. funds an revolving demand issuance
funding flow the We're We execute. $XXX good also expanded are and to with our pleased program our strategy sale we loan very where of forward best-in-class our XXXX. stand ability to whole about through annually have feeling million to end
and economics as place.
We further are of the of evaluate funding regularly business our these we long-term said in useful and to the their with see before, our benefits pleased have types we to flow program we've committed arrangements options. near- tools As arrangements effects for diversify of the
as quarter, billion. also to the that, During million private line converted of optimized lines we bank $X.X part a bank our $XXX to we secured And placement.
adjusted impact the feel quarter. flat ratings fourth measure remove liquidity calculation how we common of good and the equity. from tangible our in with market X.Xx, end in to adjusted position runway. was quarterly So aligning We've [ capital, Net AOCI really leverage the volatility agencies the quarter practices our of prior and at to our ] the about changes
full of expectations year. out the performance at initiatives, against the let Before we briefly beginning recap I XXXX strategic me the year laid our discuss XXXX
receivables to the finance the June $XX we the our approximately we and auto billion, our strong managed from First, inclusive last at benefiting to acquisition, year. and of starting we in implemented expected successfully billion, ended growth of grow year environment initiatives $XX.X competitive
in end came X%, We top at expected range X% total of the our X.X%. the and to of growth revenue in range we at
approximately cash held expense we took runway. expected support as year to average liquidity of as we a balance come opportunity in the through and X.XX%, excess receivables even much the more debt incremental and to came interest sheet at We raise X.X%, in near-term our of net our percentage manage on maturities and to at
We losses quarter the charge-offs peak XXXX. expected peak calling the within of in of while X.X% in losses the in to XXXX. occurring C&I first first range net range half X.X% of came at in X.X% with the We year, the for
expected ratio in of expense we losses negative credit cycle, model. strength we challenging came resulting receivables down where in a a capital demonstrating saw we operating the from $XXX at on in X.X% for and X.X% our year. to XXXX. of Finally, year from X.X%, of to full come return our the Even million a We generated peak business approximately X.X%
As credit and growth the improved improves to to for continued continue expect we generation and returns, we business success. grow, positioning see capital
We to maintain managed we if And to economy always, when and growth conditions prepared credit a on and remain fully the as continue revenues expect tight are and as cautious improve. even receivables growing accelerate posture. we
expect approximately We receivables reflecting managed to solid to originations. grow loan X% X%,
in X% I of our following revenue yield. We consumer X% loan growth expect just expected with improvement mentioned, modest growth in receivables the to along range
of our C&I In expect credit, couple manage to over actively terms took charge-offs we of the net the we X.X% we actions benefits full of guide credit X.X% as years. of past range reap for year the to in the
patterns charge-offs below. range again full losses half seasonal see our in quarterly net above We XXXX the year expect second half once and to typical with first
in point net to out charge-offs and that basis Our also the charge-offs. fourth below that it's including net C&I improving macroeconomic you in no XX about change are environment, points I results loan helpful running see can quarter guide our think assumes consumer inflation.
mature the loans As be will minor ratio as to business of points card some we line variability XXXX. and basis better ratio operating in expect there On expenses, improve, that with approximately OpEx in X.X%, with year a to approximately relationship we ratio OpEx year XX will consumer OpEx continue than year's full the widen last XXXX. and in throughout notably our
to any medium-term strong we achieve we our to ability we during the and and momentum end, our that generation that Investor discussed in we're positioned targets and beyond, in well In excel To we in as XXXX confident believe see our Day. look summary, economic remain capital environment. ahead business to XXXX growth
that, turn over call me let with back And Doug. the to
