World Acceptance Corp
NASDAQ:WRLD
World Acceptance Corp
World Acceptance Corp. engages in the small-loan consumer finance business. The company is headquartered in Greenville, South Carolina and currently employs 3,175 full-time employees. The firm is engaged in offering short-term small instalment loans, medium-term larger instalment loans, related credit insurance and ancillary products and services to individuals. The firm primarily 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 firm also offers income tax return preparation services to its loan customers and other individuals. The company offers instalment loans, generally between 250 and 3,500 dollars, with the average loan being 1,112 dollars. The firm operates approximately 1,205 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Utah, and Wisconsin.
World Acceptance Corp. engages in the small-loan consumer finance business. The company is headquartered in Greenville, South Carolina and currently employs 3,175 full-time employees. The firm is engaged in offering short-term small instalment loans, medium-term larger instalment loans, related credit insurance and ancillary products and services to individuals. The firm primarily 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 firm also offers income tax return preparation services to its loan customers and other individuals. The company offers instalment loans, generally between 250 and 3,500 dollars, with the average loan being 1,112 dollars. The firm operates approximately 1,205 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Utah, and Wisconsin.
Portfolio Growth: New customer originations grew 16%, and outstanding balances in this segment rose 25% year-over-year, driving portfolio expansion.
Yield Improvement: Gross yields improved by 84 basis points compared to last year, with management expecting this positive trend to continue.
Share Repurchases: Nearly 600,000 shares were repurchased this year, reducing outstanding shares by 11% so far, with capacity to buy back up to 20% for the year.
Tax Season Optimism: Early tax filing data shows strong growth in volume and revenue, with expectations for larger refunds benefiting results.
Credit Quality: No significant deterioration in collections or credit quality despite macro concerns; first pay defaults in new customers are 19% lower than prior highs.
Expense Outlook: Incentive compensation expected to decline from Q4 as a large share-based grant has now been fully expensed.
Staffing Adjustments: Recent headcount increases anticipated upcoming turnover; a 3–5% reduction in field office staff is planned this quarter.
