WRLD shares gain after reporting a 4.8% revenue increase and a 13.4% drop in provision expense for the quarter.
World Acceptance (NASDAQ:WRLD) posted fiscal first-quarter adjusted earnings per share of $2.12, up from the prior year, driven by a 4.8% revenue increase and a 13.4% decline in provision expense. The company attributed the growth to a larger loan portfolio and higher interest and insurance yields.
Revenue growth was supported by a 91-basis-point increase in yields, while credit quality improved, with the annualized net charge-off rate falling to 18.2% from 19.2% a year earlier. Front-end delinquency also declined to 18.1% from 19.2%.
Management highlighted disciplined expense control, excluding one-time CEO transition costs, and expressed confidence in continued portfolio health and underwriting practices.