Investing.com
Published Oct 23, 2023 17:40
World Acceptance (NASDAQ:WRLD) Corporation (NASDAQ: WRLD) discussed its fiscal Q2 2024 performance and future outlook in its recent earnings call. The corporation reported a period of extraordinary portfolio growth and normalization of delinquency rates, driven by operational efficiencies and a focus on credit quality. Despite economic uncertainties, the company expects these trends to continue for several more months.
Key takeaways from the call include:
During the Q&A session, CEO Chad Prashad clarified that the company expects some growth in the December quarter, though not at the same level as historical trends due to tighter new customer originations. He also mentioned that the company expects to see stabilizing and improving credit quality, yields, and operational conditions, and is accruing for the $20.45 EPS target for fiscal year 2025.
Despite the challenges, World Acceptance Corporation remains optimistic about its future performance. The company's strategy of tightening underwriting, focusing on credit quality, and rightsizing loan balances is expected to result in a healthier portfolio and stronger financial performance in the coming months.
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Written By: Investing.com
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