Greenville, South Carolina – World Acceptance Corporation (NASDAQ: WRLD) held its Q4 2024 Earnings Conference Call on May 2, 2024, at 10:00 AM ET. The conference call featured Company Participants Chad Prashad, President and CEO, and Johnny Calmes, Chief Financial and Strategy Officer.

During the call, Prashad highlighted the company’s focus on improving its portfolio base over the past two years, particularly in response to economic challenges facing its customer base. The company implemented tighter credit measures and reduced outstandings to strengthen its portfolio and improve credit quality.

Despite a decrease in portfolio size by 8.1% during the fiscal year, World Acceptance Corporation maintained its customer base relatively stable, with only a 1.5% decrease in the number of customers compared to the previous year.

The company reported significant improvements in delinquency rates, with the recency 60-day or longer rate decreasing by 9% and the 90 plus delinquency rate improving by 11% compared to the previous year. Additionally, the annualized net charge-off rate showed a significant improvement.

New loan volumes increased by 7% in the fourth quarter compared to the same period the previous year, driven by strong demand from both former and new customers. Notably, former customer loan volume saw a 14% increase in the fourth quarter and an 11% improvement year-over-year.

Looking ahead, the company anticipates modest growth for the upcoming year while maintaining a focus on reducing delinquency and net charge-offs. Management remains confident in achieving the long-term incentive plan with vesting tiers of $16.35 and $20.45 earnings per share due to improved credit quality and operating conditions.

Prashad expressed gratitude to the World Acceptance Corporation team for their dedication to serving customers and improving the company’s performance. The call concluded with an invitation for questions from participants.