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Jun 30, 2022
World Acceptance Q1 2023 Earnings Report
Experienced growth in loan balances and customer base while tightening underwriting, resulting in a net loss due to day one provisioning for credit losses.
Key Takeaways
World Acceptance Corporation reported a 21.5% increase in total revenues to $157.6 million, driven by a 34.2% increase in gross loans outstanding. However, the company experienced a net loss of $8.8 million, or $1.53 per diluted share, due to increased provision for credit losses. Adjusted net income was $6.6 million, or $1.15 per diluted share.
Unique customer base grew 11.4% from same quarter prior year
Gross loans outstanding of $1.64 billion, a 34.2% increase from same quarter prior year
Total revenues of $157.6 million, a 21.5% increase from the same quarter prior year
Net loss of $8.8 million and adjusted net income of $6.6 million
Revenue by Segment
Forward Guidance
This press release contains forward-looking statements subject to risks and uncertainties, including the ongoing impact of the COVID-19 pandemic, regulatory changes, and economic conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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