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Dec 31, 2022
World Acceptance Q3 2023 Earnings Report
Growth in loan balances and customer base was slowed, with net income decreasing due to increased provision for credit losses and net charge-offs.
Key Takeaways
World Acceptance Corporation reported a decrease in net income for the third quarter of fiscal year 2023, with net income at $5.8 million compared to $7.3 million in the same quarter of the previous year. Total revenues also decreased slightly by 1.4% to $146.5 million. The company slowed its growth in loan balances and customer base by reducing marketing spend and tightening underwriting requirements amid economic uncertainties.
Net income decreased to $5.8 million.
Diluted net income per share decreased to $0.98.
Total revenues decreased to $146.5 million.
Gross loans outstanding decreased to $1.55 billion, a 3.2% decrease from prior year.
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
World Acceptance expects to see significant improvement in the 90 days past due bucket in the fiscal fourth quarter due to the improvement seen in the Company’s front end delinquency.
Revenue & Expenses
Visualization of income flow from segment revenue to net income