WRLD Q2 FY2024 net income $16.1M, EPS $2.71; credit quality improves

WORLD ACCEPTANCE CORP

2024-Q2 EPS reported $4.33 revenue$276,199,112

Net income of $16.1M vs. net loss of $0.6M in Q2 FY2023; diluted EPS $2.71 vs. ($0.11).
Total revenues down 9.5% to $136.9M; interest and fee income declined 10.4%.
Gross loans $1.38B, down 13.7% YoY; same-store loans decreased 10.9% over 12 months.
Net charge-offs as % of avg net loans improved to 16.1% from 23.0% (annualized).
Recency delinquency 90+ days improved to 3.7% from 5.0%; allowance at 12.8% of net loans.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WORLD ACCEPTANCE CORP reported second quarter of fiscal 2024 results: revenue $136.9 million, net income $16.1 million, EPS $2.71 per diluted share.

Period: second quarter of fiscal 2024
Revenue: $136.9 million
Net income: $16.1 million
EPS: $2.71 per diluted share
Result: reported results

Exact text from the filing

Diluted net income per share of $2.71 Recency delinquency on accounts 90+ days past due improved from 5.0% at September 30, 2022, to 3.7% at September 30, 2023 Total revenues of $136.9 million, including a 240 basis point yield increase compared to the same quarter in the prior year Portfolio results Gross loans outstanding were $1.38 billion as of September 30, 2023,

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Source: SEC EDGAR

accession 0001157523-23-001511

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