World Acceptance reports Q2 EPS $2.71, consensus $1.77

Reports Q2 revenue $136.88M, consensus $135.86M. The company said, “Total revenues for the second quarter of fiscal 2024 decreased to $136.9 million, a 9.5% decrease from $151.3 million for the same quarter of the prior year. Interest and fee income declined 10.4%, from $130.46 million in the second quarter of fiscal 2023 to $116.95 million in the second quarter of fiscal 2024. Insurance income decreased by 7.8% to $15.5 million in the second quarter of fiscal 2024 compared to $16.8 million in the second quarter of fiscal 2023. The large loan portfolio increased from 55.4% of the overall portfolio as of September 30, 2022, to 56.7% as of September 30, 2023. The large loan percent of the mix decreased when compared to March 31, 2023, at which time it was 58.1%. Interest and insurance yields increased 110 basis points for the quarter ended September 30, 2023, relative to the quarter ended March 31, 2023, and 240 basis points relative to the quarter ended September 30, 2022. Other income increased by 11.0% to $4.40 million in the second fiscal quarter of fiscal 2024 compared to $3.96 million in the second fiscal quarter of fiscal 2023.”