World Acceptance Company profile
About World Acceptance Corp.
World Acceptance Corporation is a small-loan consumer finance company. The Company is engaged in offering short-term small instalment loans, medium-term larger instalment loans, related credit insurance and ancillary products and services to individuals. The Company primarily serves individuals with limited access to other sources of consumer credit, such as banks, credit unions, other consumer finance businesses and credit card lenders. The Company also offers income tax return preparation services to its loan customers and other individuals. It offers instalment loans, generally between 250 and 3,500 dollars, with the average loan being 1,112 dollars. The Company operates approximately 1,205 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Utah, and Wisconsin.
Financial summary
BRIEF: For the nine months ended 31 December 2021, World Acceptance Corp. revenues increased 10% to $416.1M. Net income decreased 18% to $35.5M. Revenues reflect Interest and fee income increase of 7% to $355.4M, Insurance commissions and other income increase of 33% to $60.6M. Net income was offset by Provision for credit losses increase from $54.9M to $128.8M (expense), Advertising increase of 9% to $15.9M (expense).
Equity composition
Common Stock no Par, 01/11, 95M auth., 15,837,140 issd. Insiders control approx. 1.81%. IPO 12/91, 3.2M shares @ $7 by Paine Webber. Public Offering 5/93, 2.3M shares (all by First Union) @ $14.50 by Paine Webber. 9/95, 3-for-1 stock split.
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