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World Acceptance down 10% on worsening metrics south of the border

Nov. 01, 2017 11:26 AM ETWorld Acceptance Corporation (WRLD) StockWRLDBy: Stephen Alpher, SA News Editor
  • Gross loans up 4.8% Y/Y to $1.15B. U.S. gross loans up 3.2% thanks to the acquisition of $8.5M in loans in FQ2. Gross loans in Mexico up 19.5% in dollars, up 11.9% in pesos.
  • U.S. accounts more than 61 days past due up to 5.7% on a recency basis, up 7.4% on a contractual basis vs. 5.3% and 7%, respectively, a year ago. On a consolidated basis (adding Mexico), up to 6.5% and 8.4% vs. 5.5% and 7.7% a year ago. Allowance on net loans up to 10.5% from 9.7%.
  • Provisions up $3.1M Y/Y mostly thanks to those rising delinquencies and charge-offs in Mexico.
  • Previously: World Acceptance EPS of $1.10 (Nov. 1)
  • WRLD -9.7% 

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