Consumer Portfolio Services Q3 net income rises on higher loan origination volume

By Reuters News


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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