World Acceptance Corp. (OQ:WRLD)
Business Focus: Consumer Lending
| Sector: Financials | Industry: Consumer Lending |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 108 Fredrick Street GREENVILLE SC 29607 |
| Tel: | N/A |
| Website: | https://www.loansbyworld.com |
| IR: | See website |
| Key People | ||
| Ravin Chad Prashad President, Chief Executive Officer, Director | John L. Calmes Chief Financial and Strategy Officer, Executive Vice President, Treasurer | Daniel Clinton Dyer Executive Vice President, Chief Branch Operations Officer |
| Luke J. Umstetter Senior Vice President, Chief Compliance Officer, General Counsel, Secretary | A. Lindsay Caulder Senior Vice President - Human Resources | Jason E. Childers Senior Vice President - Information Technology | Scott Mcintyre Senior Vice President - Accounting |
| Business Overview |
| World Acceptance Corporation is a small-loan consumer finance company. The Company is engaged in offering short-term small installment loans, medium-term larger installment loans, related credit insurance, and ancillary products and services to individuals. It serves individuals with limited access to other sources of consumer credit, such as banks, credit unions, other consumer finance businesses, and credit card lenders. The Company also offers income tax return preparation services to its loan customers and other individuals. It also markets and sells credit life, credit accident and health, credit property and auto, unemployment, and accidental death and dismemberment insurance in connection with its loans in selected states. The Company operates approximately 1,073 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Utah, and Wisconsin. |
| Financial Overview |
| For the nine months ended 31 December 2023, World Acceptance Corp. revenues decreased 9% to $413.9M. Net income totaled $42.3M vs. loss of $3.4M. Revenues reflect Interest and fee income decrease of 9% to $352.2M, Insurance commissions and other income decrease of 10% to $61.7M. Net Income reflects Provision for credit losses decrease of 40% to $127.7M (expense), Personnel decrease of 8% to $120.1M (expense). |
| Employees: | 3,075 as of Mar 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,368M as of Dec 31, 2023 |
| Annual revenue (TTM): | $575.18M as of Dec 31, 2023 |
| EBITDA (TTM): | $97.05M as of Dec 31, 2023 |
| Net annual income (TTM): | $67.93M as of Dec 31, 2023 |
| Free cash flow (TTM): | $261.92M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $572.23M as of Dec 31, 2023 |
| Shares outstanding: | 6,080,276 as of Feb 1, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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