CPS Q1 net income falls to $13.8M ($0.54/diluted) from $21.1M; revenues up 12%

CONSUMER PORTFOLIO SERVICES, INC.

2023-Q1 EPS reported $0.54 revenue$83,100,000

Revenue $83.1M (+11.7% YoY) but pretax income $18.4M vs $29.3M in 2022.
Net income $13.8M ($0.54/diluted) vs $21.1M ($0.75) prior year; operating expenses rose to $64.7M.
New contract purchases $415.2M; portfolio receivables $2.882B (+24% YoY).
Annualized net charge-offs 5.20% (vs 3.29%); delinquencies >30 days 9.92% (vs 8.59%).
CEO cites strong start, but credit metrics worsened amid economic headwinds.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CONSUMER PORTFOLIO SERVICES, INC. reported first quarter ended March 31, 2023 results: revenue $83.1 million, net income $13.8 million, EPS $0.54 per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $83.1 million
Net income: $13.8 million
EPS: $0.54 per diluted share
Result: reported results

Exact text from the filing

CPS ANNOUNCES FIRST QUARTER 2023 EARNINGS § Revenues of $83.1 million compared to $74.4 million in the prior year period § Pretax income of $18.4 million § Net income of $13.8 million, or $0.54 per diluted share § New contract purchases of $415.2 million LAS VEGAS, NV, April 26, 2023 (GlobeNewswire) -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced earnings of $13.8 million, or $0.54 per diluted share, for its first quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001683168-23-002660

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