Enova International sees Q2 revenue ‘up slightly sequentially’, consensus $611M

The company stated on its Q1 earnings call: “For second quarter, we expect consolidated revenue growth to increase slightly sequentially, for the net revenue margins in the upper 50% range. Additionally, we expect marketing expenses to be around 20% of revenue, O&T costs of around 9% of revenue, G&A costs between 6% and 7% of revenue, and interest expense as a percentage of revenue between 10.5% and 11%. These expectations should result in a 5% to 10% sequential increase or around a 20% year-over-year increase in adjusted EPS. For the full year we expect growth in originations for 2024, compared to the full year 2023 of at least 15%. We continue to believe the resulting growth in receivables from stable credit and continued operating leverage, it results in full year 2024 growth from both revenue and adjusted EPS in the upper-10s or slightly higher and expected origination growth. Our second quarter and full year 2024 expectations will depend on the macroeconomic environment and the resulting impact on demand, customer payment rates and the level, timing and mix of originations growth. In closing, we remain in a strong position to continue to generate meaningful financial results this year and beyond.”