News Summary
World Acceptance Corp., based in Greenville, South Carolina, announced a net income of $1.3 million for its fiscal first quarter, translating to a profit of 25 cents per share. The financial services company, serving primarily subprime consumers, recorded total revenues of $132.5 million during this period. Despite a slight decrease in total gross loans outstanding, the company witnessed significant customer growth, demonstrating its strong performance in the consumer finance market. The upcoming conference call on July 24 will discuss its financial results and future strategies.
Greenville, South Carolina – World Acceptance Corp. reported a net income of $1.3 million for its fiscal first quarter, translating to a profit of 25 cents per share. The company, which caters primarily to subprime consumers, recorded total revenues of $132.5 million during this period, reinforcing its position in the consumer finance market.
The financial services company, headquartered in Greenville, operates over 1,000 community-based World Finance branches across 16 states. It specializes in providing personal installment loans and tax preparation services to more than one million customers each year. As part of its regular business operations, World Acceptance Corp. is planning to hold a conference call on July 24 at 10:00 a.m. Eastern Time, which will include a live webcast discussing its first-quarter earnings. An online replay of this conference will be available for 30 days post-event.
Recently, the Consumer Financial Protection Bureau (CFPB) lifted a previous supervisory order that had been placed on World Acceptance in February 2024. This change indicates that the CFPB has adjusted its supervisory focus and no longer views World Acceptance as a pressing risk to consumers. Following this development, World Acceptance is investing in credit quality while continuing to monitor loan growth effectively.
Financial Performance Overview
In a year-over-year comparison, the total gross loans outstanding for World Acceptance reached $1.38 billion as of December 31, 2024, which reflects a 1.4% decrease from the prior year. The company had previously reported a decline in net income during the third quarter of fiscal 2025, which decreased to $13.4 million from $16.7 million a year earlier. However, total revenues for this quarter rose slightly, reaching $138.6 million, marking a 0.6% increase compared to the same quarter the previous year.
Customer Growth and Loan Performance
Despite the challenges, World Acceptance saw a significant increase in loan customer volume. There was a reported 22.6% increase in new customers compared to the previous year, alongside a 6.2% growth in the number of unique borrowers. This improvement reflects the company’s strong performance in attracting and retaining clients. The company also noted that it has increased its provisions for credit losses but remains optimistic about solid returns from third-quarter originations.
Operational Costs and Financial Position
On the operational front, World Acceptance experienced a 2.0% increase in general and administrative expenses, rising to $67.2 million compared to the prior year. As of December 31, 2024, the debt-to-equity ratio stood at 1.3:1, with approximately $559.9 million of debt outstanding. Furthermore, the company actively engaged in share repurchases, buying back 9,465 shares for roughly $1.0 million during the third quarter of fiscal 2025.
Year-to-Date Performance
For the nine months ending December 31, 2024, World Acceptance reported a net income increase to $45.5 million, compared to $42.3 million for the same period the previous year. This growth in net income underlines the company’s potential for profitability as it adapts its operational strategies.
As the company moves forward, it will continue to focus on balancing loan growth and credit quality to enhance its market position and support its customer base effectively.
Deeper Dive: News & Info About This Topic
HERE Resources
World Acceptance Corporation Reports Strong Q3 Earnings in Greenville
Additional Resources
- NH Register: World Acceptance Fiscal Q1 Earnings Snapshot
- Business Wire: World Acceptance Corporation Announces First Quarter 2026 Conference Call
- Bloomberg Law: Trump CFPB Stops Supervising Installment Lender World Acceptance
- Wikipedia: Consumer Finance
- Business Wire: World Acceptance Corporation Reports Fiscal 2025 Third Quarter Results
Author: STAFF HERE GREENVILLE
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