World acceptance12/26/2023 ![]() However, as early performance indicators on new borrowers improved substantially, the Company began to increase new borrower originations toward the end of the third quarter fiscal 2023. We also took steps to improve the gross yield to expected loss ratio for all new, former, and refinance customer originations. During the most recent quarter, we saw a decrease in borrowing from new, former, and refinance customers compared to the same quarter of the prior year due to the tighter underwriting implemented in prior quarters. During the most recent quarter, gross loans outstanding decreased sequentially 10.6%, or $164.0 million, from $1.55 billion as of Decemcompared to a decrease of 5.2%, or $83.3 million, in the comparable quarter of the prior year. Gross loans outstanding were $1.39 billion as of March 31, 2023, an 8.7% decrease from the $1.52 billion of gross loans outstanding as of March 31, 2022. Total revenues of $160.8 million, a 4.6% decrease from the same quarter prior yearĬash flow from operating activities of $285.1 million over the last twelve months, a 4.7% increase over prior year Gross loans outstanding of $1.39 billion, an 8.7% decrease from same quarter prior year Significant decrease in accounts 90+ days past due from 4.9% at Decemto 3.5% at March 31, 2023 Highlights from the fourth quarter include: ![]() Management believes that continuing to carefully invest in our best customers and closely monitoring performance will put the Company in a strong position going into the new fiscal year, particularly given the potentially challenging economic environment. ![]() GREENVILLE, S.C.-( BUSINESS WIRE)-World Acceptance Corporation (NASDAQ: WRLD) today reported financial results for its fourth quarter of fiscal 2023 and twelve months ended March 31, 2023.ĭuring its fourth fiscal quarter, World Acceptance Corporation continued to focus on credit quality and to utilize the conservative approach to its lending operations implemented in the previous quarter. ![]()
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