CPS Q1 2024 net income falls 67% YoY to $4.6M; charge-offs rise to 7.84%

CONSUMER PORTFOLIO SERVICES, INC.

2024-Q1 EPS reported $0.19 revenue$91,744,000

Revenue $91.7M (+10.4% YoY); net income $4.6M ($0.19 diluted EPS) vs $13.8M ($0.54) prior year.
Pretax income $6.6M vs $18.4M in Q1 2023; operating expenses up 31.7% to $85.2M.
New contract purchases $346.3M, down from $415.2M a year ago; total receivables $3.021B.
Annualized net charge-offs 7.84% vs 5.20%; 30+ day delinquencies 12.39% vs 9.92%.
CEO cites inflationary margin pressure but notes revenue growth from rising origination volumes.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

CONSUMER PORTFOLIO SERVICES, INC. reported first quarter ended March 31, 2024 results: revenue $91.7 million, net income $4.6 million, EPS $0.19 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $91.7 million
Net income: $4.6 million
EPS: $0.19 per diluted share
Result: reported results

Exact text from the filing

CPS ANNOUNCES FIRST QUARTER 2024 EARNINGS § Revenues of $91.7 million compared to $83.1 million in the prior year period § Pretax income of $6.6 million § Net income of $4.6 million, or $0.19 per diluted share

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Source: SEC EDGAR

accession 0001683168-24-003297

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