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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
World Acceptance
World Acceptance
World Acceptance Revenue by Segment
Revenue by Segment
Interest and Fee Income Revenue
CapyFin.comInsurance and Other Income, Net Revenue
CapyFin.com 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