secwatch.observer — SEC 8-K summary
======================================

Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001683168-24-003297
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316824003297/0001683168-24-003297-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316824003297/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-003297

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer