secwatch.observer — SEC 8-K summary
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Issuer:     WORLD ACCEPTANCE CORP (WRLD)
CIK:        0000108385
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0001157523-22-000913
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

World Acceptance Q1 net loss of $8.8M, adjusted EPS $1.15; loans up 34% but charge-offs surge
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- Net loss $8.8M ($1.53 diluted loss) vs prior-year net income $15.8M ($2.44 EPS); adjusted net income $6.6M ($1.15 adjusted EPS).
- Revenues $157.6M (+21.5% YoY) driven by 34.2% loan growth to $1.64B; customer base up 11.4%.
- Provision for credit losses surged to $85.8M from $30.3M; net charge-offs $64.4M (22.3% annualized) vs $24.1M (11.4%).
- 61+ day delinquency rose to 6.9% from 4.0% YoY; allowance for credit losses 13.0% of net loans.
- Amended credit facility: increased fixed charge coverage ratio to 2.25x–2.75x through June 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108385/000115752322000913/0001157523-22-000913-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108385/000115752322000913/a52792669.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-000913

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