earnings
confidence high
sentiment negative
materiality 0.75
WRLD Q3 net income falls 50% to $7.3M ($1.14 EPS) on provision surge; loan growth 27%
WORLD ACCEPTANCE CORP
2022-Q3 EPS reported
$5.53
revenue$416,058,073
- Net income $7.3M ($1.14 diluted EPS) vs $14.5M ($2.25) prior year; revenue up 13.5% to $148.6M.
- Gross loans outstanding at Dec 31 $1.61B, up 27% YoY and 15.1% QoQ.
- Provision for credit losses $56.5M, up 95.6% from $28.9M, driven by loan growth and higher delinquency.
- Delinquency (61+ days) rose to 6.4% from 5.2% a year ago; net charge-offs annualized 13.8% vs 11.6%.
- Repurchased 93,722 shares for $19.3M; remaining repurchase capacity $46.1M.