World Acceptance Q2 net loss $0.24/sh; revenue up 9.7%; credit covenant breach waived

WORLD ACCEPTANCE CORP

2023-Q2 EPS reported -$1.77 revenue$308,820,836

Net loss $1.4M ($0.24/sh diluted loss); adjusted net loss $1.2M ($0.20/sh).
Revenue $151.2M (+9.7% YoY); gross loans $1.60B (+14.6%).
Operating cash flow $136.7M in 6 months (+27.7% YoY); tightened underwriting.
Violated Fixed Charge Coverage Ratio and Collateral Performance Indicator; lenders waived non-compliance on Oct 26.
No notice of default or acceleration received; company continues to manage credit risk.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WORLD ACCEPTANCE CORP reported the second quarter of fiscal 2023 and six months ended September 30, 2022 results: revenue $151.2 million, EPS Net loss per share of $0.24 and adjusted net loss per diluted share of $0.20.

Period: the second quarter of fiscal 2023 and six months ended September 30, 2022
Revenue: $151.2 million
EPS: Net loss per share of $0.24 and adjusted net loss per diluted share of $0.20
Result: reported results

Exact text from the filing

economic uncertainties. Highlights from the second quarter include: Gross loans outstanding of $1.60 billion, a 14.6% increase from same quarter prior year Total revenues of $151.2 million, a 9.72% increase from the same quarter prior year Net loss of $1.4 million and adjusted net loss of $1.2 million Net loss per share of $0.24 and adjusted net loss per diluted

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Source: SEC EDGAR

accession 0001157523-22-001410

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