Regional Management reports Q4 adjusted EPS 54c, consensus 73c

Reports Q4 revenue $132M, consensus $132.37M. "We closed 2022 with a solid fourth quarter, including financial results that were better than our expectations," said Robert W. Beck, President and Chief Executive Officer of Regional Management Corp. "While net income was $2.4 million and diluted EPS was $0.25 in the quarter, we produced adjusted net income of $5.0 million and adjusted diluted EPS of $0.54. We grew our portfolio by $92 million to $1.7 billion, but continued strong demand has allowed us to be selective about the borrowers to whom we make loans, particularly as we have tightened credit since fourth quarter 2021 and intentionally slowed our growth rate throughout 2022. We finished the quarter with a 30+ day delinquency rate of 7.1%, just 10 basis points higher than 2019 pre-pandemic levels, and our first payment default rate improved to 7.1% in December, 240 basis points better than September 2022 and 170 basis points better than December 2019."