Overview
Consumer Portfolio Services Q3 revenue grows 7.8% yr/yr but misses analyst expectations
Company's pretax income for Q3 rises to $7.0 mln from $6.9 mln in 2024
New contract purchases in Q3 total $391.1 mln, indicating strong origination volumes
Outlook
Company did not provide specific guidance for future quarters in the statement
Result Drivers
STRONG ORIGINATION VOLUMES - CEO Charles E. Bradley attributes revenue growth to strong new loan origination volumes
INCREASED CONTRACT PURCHASES - New contract purchases for Q3 totaled $391.1 mln, contributing to revenue growth
STABLE DELINQUENCIES - Delinquencies greater than 30 days slightly decreased to 13.96% from 14.04% in the previous year
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $108.40 mln | $111.50 mln (1 Analyst) |
Q3 Operating Expenses | $101.40 mln | ||
Q3 Pretax Profit | $7 mln |
Analyst Coverage
Wall Street's median 12-month price target for Consumer Portfolio Services Inc is $15.00, about 42.2% above its November 7 closing price of $8.67
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 4 three months ago
Press Release: ID:nGNX4T630x
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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