Enova Q2 2020 Earnings Report

Revenue and earnings surpassed expectations, with portfolio delinquency rates and net charge-offs stabilizing and returning to pre-COVID levels.

Key Takeaways

Enova International reported second quarter 2020 results, exceeding expectations with diluted earnings per share from continuing operations growing 78% to $1.58, and adjusted earnings per share rising 73% to $1.68. The company also announced its intent to acquire On Deck Capital, Inc.

Total revenue was $253 million, a decrease of 2.5% compared to Q2 2019.

Net income from continuing operations was $48 million, or $1.58 per diluted share, compared to $31 million, or $0.89 per diluted share in Q2 2019.

Adjusted EBITDA was $94 million compared to $65 million in Q2 2019.

Adjusted earnings were $51 million, or $1.68 per diluted share, compared to $33 million, or $0.97 per diluted share in Q2 2019.