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Mar 31, 2022
World Acceptance Q4 2022 Earnings Report
Experienced growth in loan balances and customer base, but net income decreased due to day one provisioning for anticipated credit losses.
Key Takeaways
World Acceptance Corporation reported a 13.7% increase in total revenues for the fourth quarter of fiscal 2022, driven by a rise in average gross earning loans. However, net income decreased by $26.5 million due to a significant increase in the provision for credit losses related to loan balance growth and increased delinquency.
Record fourth quarter loan originations and customer retention were achieved.
The unique customer base grew 10.1% year-over-year.
Gross loans outstanding reached $1.52 billion, a 37.8% increase from the same quarter the prior year.
Total revenues amounted to $166.3 million, reflecting a 13.7% increase from the same quarter the prior year.
Revenue by Segment
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