Consumer Portfolio Services Q3 net income rises on higher loan origination volume
Overview
US specialty auto lender's Q3 revenue rose 22% yr/yr
Diluted EPS for Q3 up 50% yr/yr
Growth driven by higher loan origination volume and expanding dealer network
Outlook
Company expects continued growth in loan origination volume and expansion of dealership network
Company anticipates further market share gains and operating leverage improvements
Company expects adequate funding capacity to support higher origination volumes
Result Drivers
CREDIT PERFORMANCE - Lower delinquencies, reduced charge-offs, and higher recovery rates contributed to improved results
SHARE COUNT - Higher EPS partly due to lower diluted share count
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $131.9 mln | ||
Q3 EPS | $0.30 | ||
Q3 Net Income | $7 mln | ||
Q3 Operating Expenses | $121.8 mln |
Reuters Recommended Reads
Oct 22 - Enova Q3 adjusted EPS beats estimates on healthy loan demand, stable credit
Oct 20 - Ally Financial Q3 adjusted revenue beats estimates
Oct 21 - Pressure on lower-income US households raises delinquency risks, Morningstar DBRS says
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)