OneMain Holdings, Inc. (NYSE:OMF) Q2 2022 Earnings Conference Call July 28, 2022 8:30 AM ET

Company Participants

Peter Poillon - Head, IR

Douglas Shulman - Chairman, President & CEO

Micah Conrad - EVP & CFO

Conference Call Participants

Michael Kaye - Wells Fargo Securities

Richard Shane - JPMorgan Chase & Co.

Vincent Caintic - Stephens Inc.

Kevin Barker - Piper Sandler & Co.

John Hecht - Jefferies

Moshe Orenbuch - Crédit Suisse

Operator

Welcome to the OneMain Financial Second Quarter 2022 Earnings Conference Call and Webcast. Hosting the call today from OneMain is Peter Poillon, Head of Investor Relations. Today's call is being recorded. [Operator Instructions]. It is now my pleasure to turn the floor over to Peter Poillon. You may begin.

Peter Poillon

Thank you. Good morning, everyone, and thank you for joining us. Let me begin by directing you to Page 2 of the second quarter 2022 investor presentation, which contains important disclosures concerning forward-looking statements and the use of non-GAAP measures. The presentation can be found in the Investor Relations section of our website.

Our discussion today will contain certain forward-looking statements reflecting management's current beliefs about the company's future financial performance and business prospects, and these forward-looking statements are subject to inherent risks and uncertainties and speak only as of today. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in our earnings press release.

We caution you not to place any undue reliance on forward-looking statements. If you may be listening to this via replay at some point after today, we remind you that the remarks made herein are as of today, July 28, and have not been updated subsequent to this call.

Our call this morning will include formal remarks from Doug Shulman, our Chairman and Chief Executive Officer; and Micah Conrad, our Chief Financial Officer. After the conclusion of our formal remarks, we will conduct a question-and-answer session. Let me turn the call over to Doug.

Douglas Shulman

Thanks, Pete. Good morning, everyone, and thank you for joining us today. This morning, I'll take some time to review our financial performance in the quarter, discuss the credit and macroeconomic environment and also provide an update of our key strategic initiatives.

I'm pleased with our financial performance in the quarter as we generated $275 million of capital and demand for our loan products remained quite strong. Originations were $3.9 billion, up modestly year-over-year. Similar to last quarter, a healthy demand for our core personal loan product was supported by our expanded products and new distribution partnerships. The strong originations in the quarter led to solid managed receivables growth of 10% year-over-year.