Latest news with #PeterGraham
Yahoo
25-07-2025
- Business
- Yahoo
SLM Corp (SLM) Q2 2025 Earnings Call Highlights: Navigating Challenges and Seizing Opportunities
GAAP Diluted EPS: $0.32 per share for the second quarter. Loan Originations: $686 million for the second quarter. Net Interest Income: $377 million, up $5 million from the prior year quarter. Net Interest Margin: 5.31% for the quarter, 4 basis points ahead of the prior quarter. Provision for Credit Losses: $149 million, up from $17 million in the prior year quarter. Allowance for Loan Losses: 5.95% of private education loan exposure. Private Education Loans Delinquent 30 Days or More: 3.5% of loans in repayment. Net Private Education Loan Charge-Offs: $94 million, representing 2.36% of average loans in repayment. Noninterest Expenses: $167 million, compared to $155 million in the prior quarter. Liquidity Ratio: 17.8% at the end of the quarter. Total Risk-Based Capital: 12.8% at the end of the second quarter. Common Equity Tier 1 Capital: 11.5% at the end of the second quarter. Share Repurchase: 2.4 million shares repurchased at an average price of $29.42 per share. Warning! GuruFocus has detected 9 Warning Sign with SLM. Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points SLM Corp (NASDAQ:SLM) delivered solid results in the second quarter of 2025, with GAAP diluted EPS of $0.32 per share. The credit quality of originations improved, with a cosigner rate increase to 84% and average FICO at approval rising to 754. SLM Corp (NASDAQ:SLM) repurchased 2.4 million shares, continuing its capital return strategy and reducing shares outstanding by over 53% since 2020. The company agreed on indicative pricing for the sale of $1.8 billion of private education loans, aligning with expectations. SLM Corp (NASDAQ:SLM) is optimistic about the long-term outlook for private student lending due to recent federal student loan reforms, potentially increasing annual private education loan origination volume by $4.5 billion to $5 billion. Negative Points Loan originations for the second quarter were $686 million, slightly below expectations. Provision for credit losses increased to $149 million, attributed to a cautious macroeconomic outlook and an increase in the weighted average life of the portfolio. Net private education loan charge-offs rose to $94 million, primarily due to disaster forbearance related to California wildfires. Noninterest expenses increased to $167 million, up from $155 million in the prior quarter. There is uncertainty regarding the impact of federal lending reforms and reductions in grant funding on future loan originations. Q & A Highlights Q: Can you provide details on the $1.8 billion loan sale in the third quarter and its gain on sale margin? A: Peter Graham, CFO, stated that the transaction is in line with expectations set for the year. The rates environment has changed since the first-quarter loan sale, leading to modest adjustments in pricing, but the execution of the transaction was satisfactory. Q: Should we expect another loan sale in the fourth quarter, or is the $3.8 billion total for the year? A: Peter Graham, CFO, mentioned that they will monitor the situation as they approach the latter part of the year, considering peak season performance and capital stress testing results before deciding on additional sales. Q: The net charge-off rate for loans in repayment increased in the second quarter. Can you explain the impact of the California wildfires on this? A: Jonathan Witter, CEO, explained that the wildfires led to a larger impact than typical natural disasters due to the wide and densely populated area affected. The disaster forbearance offered shifted some charge-offs from the first to the second quarter. Q: With changes to federal lending, can we expect an increase in growth projections for Sallie Mae? A: Peter Graham, CFO, indicated that while the framework for growth remains relevant, the new federal lending changes present a significant opportunity, potentially leading to higher growth rates in the mid- to high single-digit range. Q: How does Sallie Mae plan to handle the $4.5 billion to $5 billion opportunity from federal loan reforms? A: Jonathan Witter, CEO, stated that the company plans to leverage its current risk appetite and credit buy box, with expectations to realize the volume impacts over several years, particularly from 2027 onwards. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
News.com.au
13-06-2025
- Sport
- News.com.au
From fish and chip shop to 2025 Stradbroke Handicap for jockey Cejay Graham
It's not quite out of the frying pan into the fire. It's out of the fish and chip shop into the Group 1 Stradbroke Handicap. Young gun jockey Cejay Graham is buttering up for her first Stradbroke ride, but it was only a decade ago she was frying fish and crumbing calamari at a Port Macquarie fish and chip shop. It was just as well she hated the gig. It didn't last long and it helped to convince her there was a much better career path – that of a jockey. • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! The daughter of Peter Graham, a former jockey-turned-trainer, was soon set on a path that has had more twists and turns than an Agatha Christie novel. There have been setbacks and major injuries but the determined young jockey had been a giant-killer in the Brisbane riding ranks and can now help write a Stradbroke fairytale when she rides home-bred hero The Inflictor. 'I was a teenager and working in the fish and chip shop because, like any young kid, I just wanted some of my own money,' Graham recalled. 'I thought horses were amazing and I thought my Dad's job was amazing. 'But for some reason I thought 'I am a girl and I can't do that' and I knew my Dad didn't really want me to become a jockey, because it's a dangerous sport. 'My friend at the time was working in a fish and chip shop, so I thought, 'well, I can't be a jockey, I'll give it a go'. 'I was making calamari and cooking fish and chips and serving people. 'I only got about a week into the job and I absolutely hated it. 'I don't think I stuffed anything up, but the boss was a little bit stunned when I said 'see you later' after I hadn't been there for long. The Inflictor dominates Race 2 at Doomben! ðŸ'° @nashhot — SKY Racing (@SkyRacingAU) May 24, 2025 • 'As soon as I got a new job of an afternoon at stables with (trainer) John Sprague, I thought 'surely I don't get paid for this'. 'I was initially just doing ground work, putting horses out in the yards, giving them a pick of grass, doing their stable boxes and looking after them. 'I then wanted to give riding trackwork a go. 'I knew Dad didn't want me to do it. 'I remember vividly asking him to teach me how to ride trackwork, but I couldn't get the words out and I just cried because I knew he really didn't want his little girl to do it. 'All he said was that if I was going to do it, I had to do it his way, otherwise I wasn't doing it.' Graham's Stradbroke ride is just her fourth in a Group 1 but the 26-year-old has been a star in the Brisbane riding ranks with a series of stakes wins this year and last year. Nothing has come easy, however. Several years ago there were major injury setbacks when Graham endured a broken back and two broken wrists. She would drive six hours from Port Macquarie to Brisbane for a handful of rides before making the trek back to race in country NSW the next day. The worm started to turn when multiple Group 1 winning Brisbane trainer Kelly Schweida took Graham on as an apprentice jockey and she has never looked back. • 'I won't be backing him': Owner questions Stradbroke favourite's odds The girl who was raised a stone's throw from Port Macquarie Racecourse is now taking the senior riding ranks by storm. She is one of a growing army of female jockeys who are dominating. Emily Lang and Angela Jones are the top two in the Brisbane jockey premiership race this season. If The Inflictor can score the Stradbroke, it will be another feather in the cap of the females who are competing on an even footing with the males and beating them more often than not. 'These days, most owners are really excited to have a female jockey on which is absolutely fantastic,' Graham said. Trainer @BBakerRacing gave @bendorries76 the lowdown on Robusto's Stradbroke chances at the Straddie calcutta in Brisbane today ... and he also gave a big tip for one of his runners at Rosehill Gardens. — Racenet (@RacenetTweets) June 13, 2025 'You hardly hear any of the old stigma when some people used to say 'oh, I'm not putting her on, she's not strong enough'. 'Maybe there is still a tiny bit of it around with some of the old school trainers, but I think female riders have become a lot more accepted now. 'In our (female) jockeys' room in Brisbane we have some experienced riders and that is great because the younger girls like me can really look up to them.' The Stradbroke Handicap has had its share of extraordinary tales over the years, but the Inflictor can write a colourful new chapter. They might one day write a book about it if and the former fish and chip shop worker jockey Cejay Graham surge to an incredible Stradbroke triumph. Bookmakers are giving The Inflictor a solid chance, rating him a $15 prospect.
The Citizen
23-05-2025
- The Citizen
Residents fed up with lack of by-law enforcement by City of Mbombela
Residents fed up with lack of by-law enforcement by City of Mbombela Residents and business owners are gatvol with the City of Mbombela's (CoM) inability to enforce by-laws. Illegal dumping is ongoing and cars are still being repaired on the sides of residential and industrial streets. According to residents, these issues have been raised with the municipality on various occasions but no action has been taken. Despite the CoM's claim that illegal dumping has stopped, it is still a major problem in Mbombela, White River and on the R538. According to a White River ward councillor, Rowan Torr, vehicles are still being repaired on roadsides, especially on Peter Graham and Theo Kleynhans streets. 'The streets are a mess because of spilled oil and littering. It is illegal and the municipality knows it but does nothing,' Torr said. ALSO READ: City of Mbombela tackles Gatvol issues, but it's 'not a one-day job' Car repairs on Stinkhout Crescent in Mbombela have left the area congested and covered with oil. Delivery vehicles, customers and staff of businesses in the area struggle to access their premises as gates are blocked by these cars. Despite the Service Delivery Drive, during which some of these cars on Anderson Street were impounded, most street mechanics have returned and the situation continues. Illegal dumping is still a major problem around Mbombela Stadium, the government village, the KaNyamazane Road, Andrew Street and various other areas. Some residents have taken it upon themselves to clear garbage that is dumped near their homes. The CoM's municipal manager, Wiseman Khumalo, dismissed allegations that municipal by-laws are not effective. ALSO READ: Unkempt pavements and parks leave Mbombela residents gatvol 'Illegal dumping occurs despite designated dumping areas being provided by the municipality. In the areas where we collect waste, such as Mbombela and White River, people illegally dump their garbage on the street. We have placed skips in rural areas which are cleaned on a weekly basis. These are not used, yet people blame the municipality. We do clean up and place signs that say 'No dumping',' he stressed. Concerning the vehicles being repaired on the streets, he said: 'People should stop taking their cars to the street mechanics and rather take them to registered workshops. We attend to the streets where people are fixing cars, but we need members of the public to work with us and this will stop.' He said people must report all these matters to the municipality and they will be attended to. Many residents claim to have reported the matters to the CoM, including sending photos of vehicle registration numbers of persons breaking the by-laws, but no action has resulted. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Press and Journal
22-05-2025
- Climate
- Press and Journal
Fish dying in River Spey as water levels near historic lows in dry weather
Angling has been suspended in some parts of the River Spey amidst reports fish are dying in dangerously low water levels during the current dry weather. A prolonged period without significant rain has led to depths across the region plummeting with no change expected for at least several days. The nearby River Findhorn has already taken the historic decision to recommend the closure of its beats – the only time outside Covid it has asked anglers to stay away. Both rivers have reported fish deaths from fungal disease saprolegnia, which can occur in rivers when flows drop. Warnings have been issued the 'extraordinary' weather risks the safety of vital spring fish that will help sustain already-fragile stocks. They come as water levels on the River Spey and River Findhorn near historically low levels that have rarely been seen before. Repeated warnings have been issued in recent years about the declining population of Atlantic salmon, which populate the Spey. The Spey Fishery Board has asked anglers, proprietors and visitors to the river to exercise 'proper restraint and consideration' for the fish in the current warm conditions. Temperatures fluctuating between cool evening and warm nights are also reported to be 'stressing' the fish. The board has stopped short of calling for angling to stop on the River Spey due to the dry weather. However, Aberlour Angling Club has decided to close its beats temporarily. Spey Fishery Board chairman Peter Graham explained additional survey work has been commissioned to better understand the current conditions. He said: 'We are well below summer level in the River Spey and there is no water in the hills in the form of snow. 'Water tables are low. There has been no rainfall for six weeks. 'The lack of volume of water in the river means that the temperature of the river is fluctuating rather than remaining constant as it would be with a larger volume of water less likely to rapid heating during the day and cooling at night. 'The lower warmer water also becomes increasingly deoxygenated, adding to the problem. 'We are also seeing a significant outbreak of saprolegnia which is causing some fish to die in the river. 'These are of course our most valuable spring fish and we wish to reduce the impact of fishing in this instance. 'On this scientific evidence the Spey board is reminding all of their constituents that the proper handling of fish caught is imperative and consideration should be given in these conditions to minimising the stress on fish.' Meanwhile, the Findhorn District Salmond Fishery Board has issued an exceptionally rare recommendation to suspend fishing on the river. The decision came into effect this week with a recommendation it will remain in force until at least Monday, June 2. At that point the conditions will be reviewed again with the recommendation to close extended if necessary. The Findhorn, Nairn and Lossie Rivers Trust has described the outbreak of saprolegnia in spring salmon as 'severe'. Those who find dead fish in the water have been urged to report the findings to Fisheries Management Scotland. Findhorn District Fishery Board chairman Anthony Laing explained proprietors have backed the decision to ensure the future health of the river. He said: 'I think we're pretty close to a record low at this time of year. It's not just the low water level that is causing the concern though, it's the number of dead fish. 'Anglers who have been coming to the river have just hated seeing the dead fish while having very little chance of catching anything. 'We discussed it as a board and took the decision it would be sensible to close the river for a while. 'We had a similar situation last year with an outbreak of saprolegnia in May but then we had a reasonable spate which washed it out and we had a pretty good season in the end. 'If we get a bit of rain, which even just raises the river by a couple of feet, then we would immediately open the river again.' Water levels on the River Spey have been consistently dropping over recent weeks, now nearing the point of historically low levels. Data published by Sepa shows the river was 42.1cm above the fixed measuring point at Aberlour on Friday last week, which had dropped to 38.3cm today. Normal for that section is considered by the agency to be anywhere between 43.5cm to 2.63 metres. The lowest level recorded since the station opened in 1991 is 30.7cm. Meanwhile, levels on the River Findhorn are also nearing historically low levels. Data recorded at Dunphail shows the depth above the fixed measuring point was 4.6cm on Friday last week, which had dropped to 3.5cm today. The lowest level recorded since that station opened in 1982 is 1.3cm.
Yahoo
15-05-2025
- Entertainment
- Yahoo
'Incredibly exciting' exhibition to showcase world-renowned artist in Norfolk
An "incredibly exciting" exhibition is set to hit the Norfolk coast this summer. Barlow Fine Art in Thornham will showcase new and original works by world-renowned artist Peter Graham, from June 14 to July 7. This collection is rarely seen outside London. Gallery owner Toby Barlow said: "It is incredibly exciting for art lovers to be able to enjoy a rare chance to view a large collection of Peter's remarkable paintings, here in our new space in Thornham." Peter Graham, born in Glasgow in 1959, is a member of the Royal Institute of Oil Painters and the Royal Scottish Society of Painters in Watercolour. Café des Tuileries 91 x 91 cm oil on canvas Peter Graham (Image: Peter Graham) He is one of Britain's most vivid and distinctive modern colourists. His spontaneous painting style is inspired by changing light conditions. Barlow Fine Art, on the Coast Road in Thornham, is open throughout the season. To avoid disappointment, it is recommended to book an appointment, but the gallery will be open to the public throughout the exhibition. Further information about the exhibition can be found at
