Chicago, IL – Enova International, Inc. held its Q2 2024 Earnings Conference Call on July 23 at 5:00 PM. The company shared its financial results for the second quarter of 2024, showcasing strong performance driven by various factors such as a talented team, machine learning analytics, and diversified product offerings.

During the conference call, Enova’s CEO, David Fisher, highlighted the company’s robust financial results, reporting a 27% year-over-year increase in originations to $1.4 billion. The growth was attributed to strong demand in both the small business and consumer sectors, coupled with solid credit performance. Small business products accounted for 64% of the total portfolio, while consumer products made up the remaining 36%.

The company experienced a 25% year-over-year increase in combined loan and finance receivables, reaching a record $3.6 billion. This growth led to a 26% year-over-year revenue increase to $628 million. Additionally, adjusted EBITDA increased by 29% year-over-year to $163 million, while adjusted EPS rose by 28% year-over-year to $2.21.

Enova’s CFO, Steven Cunningham, provided insights into the company’s financial performance, emphasizing stable credit trends and cost-effective access to capital. Cunningham mentioned that Enova completed three financing transactions totaling over $1 billion in the second quarter, showcasing efficient and cost-effective terms. The company also acquired more than 1 million shares at a cost of $62 million during the same period.

Looking ahead, Enova expects continued growth in the third and fourth quarters of 2024, with revenue anticipated to increase by more than 5% sequentially in Q3 and around 20% in Q4 compared to the previous year. The company remains optimistic about its ability to generate meaningful financial results in a constructive macroeconomic environment, leveraging its diversified product offerings and risk management capabilities to drive long-term shareholder value.

In conclusion, Enova is confident in its strategy, products, and financial performance, positioning the company for sustainable and profitable growth in 2024 and beyond. As the company continues to navigate changing economic conditions, it remains focused on delivering value to shareholders through both investments in the business and share repurchases, supported by a strong balance sheet and liquidity position. The company looks forward to achieving continued success in the coming quarters.