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Mar 31, 2020
Regional Management Q1 2020 Earnings Report
Reported a net loss due to COVID-19 reserve build and executive transition costs, but revenue increased year-over-year.
Key Takeaways
Regional Management Corp. reported a net loss of $6.3 million for Q1 2020, primarily due to a $23.9 million reserve build related to COVID-19 and $4.9 million in non-operating costs. However, total revenue increased by 17.5% year-over-year, driven by growth in net finance receivables and insurance income.
Net loss of $6.3 million, or $0.56 per diluted share, compared to net income of $8.1 million, or $0.67 per diluted share, in the prior-year period.
Total revenue increased by 17.5% year-over-year to $96.1 million.
Net finance receivables increased by 18.4% year-over-year to $1.1 billion.
Available liquidity of $110 million as of May 4, 2020.
Revenue by Segment
Forward Guidance
Due to the economic uncertainty related to the COVID-19 pandemic, the company has temporarily paused its plans to open additional de novo branches and will provide an update once there is more visibility.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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