Santander Consumer USA Q1 Profit Plunges - Quick Facts

(RTTNews) - Santander Consumer USA Holdings Inc. (SC) announced that its net income attributable to shareholders for first quarter 2014 was $81.5 million or $0.23 per share, down from $290.4 million or $0.84 per share last year.

Core net income for first quarter 2014 was $157.3 million, or $0.44 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income increased 43 percent year-over-year to $1.0 billion, from $732 million, driven by the 51 percent year-over-year portfolio growth. The provision for loan losses increased to $699 million in the first quarter of 2014, from $217 million in the first quarter of 2013.

Total other income was $135.52 million compared to $76.13 million last year.

The Board has declared a cash dividend of $0.15 per share, to be paid May 30, 2014 to shareholders of record as of the close of business on May 12, 2014.