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Jun 30, 2021
Enova Q2 2021 Earnings Report
Enova reported a strong second quarter with revenue and earnings growth, driven by increased consumer spending and solid credit performance.
Key Takeaways
Enova International reported a 4.6% increase in revenue to $265 million and net income of $80 million, or $2.10 per diluted share, for the second quarter of 2021. The company's adjusted earnings per share increased 35% to $2.26. Strong credit performance and accelerating originations growth drove the results.
Quarterly diluted earnings per share from continuing operations increased 33% to $2.10 and adjusted earnings per share increased 35% to $2.26 compared to a year ago.
Total company originations increased 35% sequentially to $681 million.
Consolidated portfolio net charge-offs as a percentage of average combined loan and finance receivables declined to 2.4% from 15.9% in the second quarter of 2020.
Cash and marketable securities totaled $467 million at June 30, with available capacity on committed facilities of $534 million.
Enova
Enova
Forward Guidance
Enova is not providing guidance for the third quarter or full year 2021 due to ongoing uncertainties related to the COVID-19 pandemic.
Challenges Ahead
- Virus resurgences
- Changes in governmental restrictions
- Potential economic stimulus
- Employment stabilization
- Business re-openings