Welcome to our dedicated page for CURO Group Holdings news (Ticker: CURO), a resource for investors and traders seeking the latest updates and insights on CURO Group Holdings stock.
CURO Group Holdings Corp. (NYSE: CURO) is a leading provider of financial solutions, offering a wide range of services to meet the evolving needs of consumers. Founded in 1997 in Riverside, California, by three childhood friends from Wichita, Kansas, CURO has grown from a single storefront to a multi-brand powerhouse with a significant online presence.
CURO operates under various well-known brands including Speedy Cash, Rapid Cash, Cash Money, LendDirect, Avío Credit, Opt+, Juo Loans, and WageDayAdvance. These brands offer a variety of financial products such as short-term loans, installment loans, lines of credit, and other financial services. The company prides itself on providing financial freedom to the underbanked, a segment of the market that often lacks access to traditional banking services.
With over 20 years of operational experience, CURO has developed a robust financial technology platform that ensures seamless and efficient transaction processing. The company’s unique, fully integrated system allows for end-to-end ownership of every financial transaction, ensuring high-quality service and customer satisfaction.
Recent achievements include the expansion of online services, strategic partnerships to enhance service offerings, and continuous improvements in their technology infrastructure to better serve their customers. CURO’s financial condition remains strong, with a focus on sustainable growth and profitability. The company is committed to innovation and adapts quickly to changes in the financial landscape, ensuring they remain a trusted partner for their customers' financial needs.
CURO Group Holdings Corp. (NYSE: CURO) announced that its first quarter 2023 financial results will be released on May 10, 2023, before market open. A conference call is scheduled for 8:30 a.m. Eastern Time on the same day to discuss these results, accessible via the CURO Investors website. The replay of the conference call will be available until May 17, 2023. CURO is a consumer finance company offering a variety of financial services to U.S. and Canadian customers. The firm operates multiple brands and leverages over 25 years of experience in the industry.
CURO Group Holdings Corp. (NYSE: CURO) has responded to the Canadian government's proposed 2023 Budget, which includes a plan to lower the maximum allowable interest rate from 47% to 35%. The company emphasized its commitment to providing affordable financial solutions to underserved consumers. CURO indicated that while the proposal is in its early stages, they will actively engage with the government to highlight potential adverse effects on customers. CURO remains cautious regarding the long-term impact of this proposal on its operations and will monitor the situation closely while ensuring appropriate returns for its business.
CURO Group Holdings Corp. (NYSE: CURO) reported its fourth-quarter financial results for 2022, revealing a net loss of $186.4 million, translating to a loss per share of $4.60. This marks a significant increase in losses compared to a net loss of $28.9 million in Q4 2021. Total revenue for the quarter was $217.2 million, down from $224.3 million a year prior. Key metrics included a 34.8% year-over-year growth in gross loans receivable, reaching $2.1 billion, largely driven by strong performance in Canada POS lending. However, the company faced $107.8 million in goodwill impairment in U.S. Direct Lending due to rising rates and other economic pressures.
CURO Group Holdings Corp. (NYSE: CURO) announced significant changes to its Board of Directors, appointing Chad Faulkner as Chairman and David Kirchheimer as Lead Independent Director. The Board size will decrease from eleven to eight members to enhance efficiency.
Effective January 1, 2023, Board compensation will be paid exclusively in equity to align interests with stockholders. CEO Doug Clark expressed optimism about the future and the benefits of a streamlined Board. CURO will release its fourth quarter and full-year 2022 financial results on February 23, 2023, with a conference call at 8:30 a.m. ET to discuss these results.
CURO Group Holdings Corp. (NYSE: CURO) announced the appointment of Ismail (Izzy) Dawood as Chief Financial Officer, effective January 3, 2023. He succeeds Roger Dean and will lead CURO's financial organization following a strategic repositioning aimed at long-term shareholder value. Dawood brings over 20 years of experience in financial leadership roles, previously serving as CFO for companies like Paysafe and Branch International. CEO Doug Clark praised Dawood’s strong performance track record and expertise in fintech and lending.
Flexiti Financial Inc. announces a significant milestone, achieving C$1 billion in loan book and C$1 billion in new originations for 2022, marking 118% year-over-year growth. Founded in 2013, Flexiti has doubled its origination figures, welcoming over 8,000 retail locations and 1.9 million customer accounts. Recognized as one of Canada's Top Growing Companies for four consecutive years, Flexiti aims to strengthen its retail partnerships while maintaining fiscal discipline.
CURO Group Holdings has appointed Doug Clark as the new CEO, effective immediately. Clark brings over 18 years of experience in consumer finance and previously served as President of CURO's North American direct lending business. He succeeds Don Gayhardt, who left to pursue other opportunities. The company is focusing on integrating its brands and executing its business strategy for growth. CURO is committed to maximizing its omni-channel lending platform and mitigating risk through its advanced underwriting and scoring engine.
CURO Group Holdings Corp. reported a 115% year-over-year increase in gross loans receivable, totaling $1.9 billion as of September 30, 2022. Key developments include the divestiture of its legacy U.S. business and the acquisition of First Heritage Credit for $140 million. Despite this growth, net income improved significantly to $25.7 million ($0.63 EPS) from a loss of $42 million last year, driven by a $68.4 million gain on the sale. Revenue increased by 2% year-over-year to $214.1 million but fell 30% sequentially, attributed to the divestiture and macroeconomic pressures.
CURO Group Holdings Corp. (NYSE: CURO) will release its third quarter 2022 financial results after market close on November 2, 2022. The company plans to host a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results. Investors can access the live webcast on the CURO Investors website. A replay of the call will be available until November 9, 2022. CURO has been a key player in consumer credit, providing services for over 25 years to non-prime and prime consumers in the U.S. and Canada.
Flexiti Financial Inc. has increased its revolving warehouse credit facility from
FAQ
What is the market cap of CURO Group Holdings (CURO)?
What services does CURO Group Holdings Corp. provide?
When was CURO Group Holdings Corp. founded?
What are some of the brands under CURO Group Holdings Corp.?
What is CURO’s primary customer base?
How has CURO expanded its services over the years?
What makes CURO’s technology platform unique?
How does CURO ensure customer satisfaction?
What recent achievements has CURO attained?
Where is CURO Group Holdings Corp. headquartered?
What is CURO’s approach to growth and profitability?
