News Summary
World Acceptance Corporation announced a net income of $1.3 million for its fiscal first quarter. The company generated $132.5 million in revenue and is set to host a conference call to further discuss these results. Significant changes from the Consumer Financial Protection Bureau have also impacted the firm’s operations. With ongoing growth and some declines in specific income sectors, the company continues to navigate a challenging economic landscape as it serves over a million customers through its community-based branches.
Greenville, South Carolina – World Acceptance Corporation (NASDAQ: WRLD) has reported a net income of $1.3 million for its fiscal first quarter of 2025, equivalent to 25 cents per share. This new data emerges as part of the company’s ongoing performance review amidst an evolving economic landscape.
The financial statements release shows that World Acceptance generated $132.5 million in revenue during this quarter. Following the announcement, the company has scheduled a conference call for July 24, 2025, to elaborate further on its financial summary.
World Acceptance Corporation specializes in offering personal installment loans and personal tax preparation services, serving over one million customers each year. The organization operates more than 1,000 community-based branches known as World Finance across 16 states.
In a significant development, the Consumer Financial Protection Bureau (CFPB) has recently released World Acceptance from a supervision order initiated under the Biden administration, which previously deemed the company a heightened consumer risk. This supervision order was initiated in February 2024 and has now been revised as the CFPB shifts its focus to other consumer threats deemed more pressing.
Third Quarter Performance Overview
The company’s performance continued to show growth as evidenced by its third quarter results for fiscal 2025, which reported a net income of $13.4 million, although this reflects a drop from $16.7 million in the same quarter of the previous year. Revenue for the third quarter also saw an increase, rising slightly to $138.6 million from $137.7 million in the previous year.
Interest and fee income grew by 3.1%, climbing from $118.7 million to $122.4 million in the third quarter compared to the same period last year. However, the company’s insurance income declined by 14.1% to $12.5 million.
Loan and Customer Statistics
As of December 31, 2024, gross loans outstanding were reported at $1.38 billion, marking a 1.4% decrease from $1.40 billion a year prior. In contrast, house loan growth saw a substantial increase of 6.6%, which corresponds to an increase of $85.6 million compared to the previous quarter.
The client base of World Acceptance experienced a growth of 3.7% over a twelve-month period ending December 31, 2024. The company also experienced a decrease in net charge-offs for the third quarter, falling to $42.4 million from $48.4 million in the same quarter last year.
Financial Health and Efficiency
World Acceptance reported an increase in the provision for credit losses by $3.5 million, reaching $44.1 million in the latest quarter, indicating the company’s ongoing growth and risks associated with it. The company managed to decrease its general and administrative expenses proportionate to revenues, moving from 47.8% to 48.5%.
Additionally, World Acceptance showed a reduction in average debt outstanding along with a decrease in interest expenses, resulting in a debt-to-equity ratio of 1.3:1 as of December 31, 2024. The firm experienced a return on average assets recorded at 7.5%, while the return on average equity was noted at 19.2%.
In fiscal 2024, the company actively repurchased approximately 295,201 shares of its common stock, reflecting its strategy to enhance shareholder value.
The live broadcast of the company’s upcoming conference call will be accessible online, with a recorded replay available for 30 days following the call.
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Additional Resources
- Express News
- Business Wire: Conference Call Announcement
- Bloomberg Law: CFPB Supervision Update
- Business Wire: Third Quarter Results
- Wikipedia: Consumer Financial Protection Bureau
Author: STAFF HERE GREENVILLE
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