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Regional Management Corp. Announces Third Quarter 2024 Results

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Regional Management Corp. (NYSE: RM) reported third quarter 2024 results with net income of $7.7 million and diluted earnings per share of $0.76, impacted by $4.3 million due to hurricane events. The company achieved record revenue of $146.3 million and net finance receivables of $1.8 billion, driven by $46 million sequential portfolio growth. Credit performance improved with a net credit loss rate of 10.6% and 30+ day delinquency rate of 6.9%, both showing 40 basis points improvement year-over-year. Operating expenses increased only 0.6% with an improved ratio of 13.9%. The Board declared a dividend of $0.30 per share for Q4 2024.

Regional Management Corp. (NYSE: RM) ha riportato i risultati per il terzo trimestre del 2024, con un utile netto di 7,7 milioni di dollari e un utile per azione diluito di 0,76 dollari, influenzati da 4,3 milioni di dollari a causa di eventi legati agli uragani. L'azienda ha raggiunto un fatturato record di 146,3 milioni di dollari e crediti finanziari netti di 1,8 miliardi di dollari, sostenuti da una crescita sequenziale del portafoglio di 46 milioni di dollari. Le prestazioni creditizie sono migliorate con un tasso di perdita netta su crediti del 10,6% e un tasso di insolvenza oltre 30 giorni del 6,9%, entrambi mostrando un miglioramento di 40 punti base rispetto all'anno precedente. Le spese operative sono aumentate solo dello 0,6% con un rapporto migliorato del 13,9%. Il Consiglio ha dichiarato un dividendo di 0,30 dollari per azione per il quarto trimestre del 2024.

Regional Management Corp. (NYSE: RM) reportó los resultados del tercer trimestre de 2024 con un ingreso neto de 7,7 millones de dólares y ganancias por acción diluidas de 0,76 dólares, impactados por 4,3 millones de dólares debido a eventos de huracanes. La compañía logró un ingreso récord de 146,3 millones de dólares y cuentas por cobrar financieras netas de 1,8 mil millones de dólares, impulsados por un crecimiento secuencial de portafolio de 46 millones de dólares. El rendimiento crediticio mejoró con una tasa de pérdida crediticia neta del 10,6% y una tasa de morosidad a 30 días superior del 6,9%, ambos mostrando una mejora de 40 puntos básicos interanual. Los gastos operativos aumentaron solo un 0,6% con una relación mejorada del 13,9%. La Junta declaró un dividendo de 0,30 dólares por acción para el cuarto trimestre de 2024.

지역 관리 법인 (NYSE: RM)은 2024년 3분기 결과를 보고하며 순이익 770만 달러와 희석 주당순이익 0.76 달러를 기록했습니다. 이번 실적은 허리케인 관련 사건으로 인해 430만 달러의 영향을 받았습니다. 이 회사는 146.3백만 달러의 기록된 수익과 18억 달러의 순 금융 채권을 달성했으며, 이는 4600만 달러의 순차적 포트폴리오 성장의 결과입니다. 신용 성과는 순 신용 손실률 10.6%와 30일 이상 연체율 6.9%로 개선되었으며, 두 수치 모두 전년 대비 40 베이시스 포인트 향상되었습니다. 운영 비용은 0.6%만 증가했으며 비율은 13.9%로 개선되었습니다. 이사회는 2024년 4분기 주당 0.30달러의 배당금을 선언했습니다.

Regional Management Corp. (NYSE: RM) a annoncé les résultats du troisième trimestre 2024 avec un revenu net de 7,7 millions de dollars et un bénéfice par action dilué de 0,76 dollar, impacté par 4,3 millions de dollars en raison d'événements liés aux ouragans. L'entreprise a réalisé un chiffre d'affaires record de 146,3 millions de dollars et des créances financières nettes de 1,8 milliard de dollars, soutenus par une croissance séquentielle du portefeuille de 46 millions de dollars. La performance de crédit s'est améliorée avec un taux de perte nette sur créances de 10,6 % et un taux de délinquance de plus de 30 jours de 6,9 %, les deux montrant une amélioration de 40 points de base par rapport à l'année précédente. Les charges d'exploitation ont augmenté de seulement 0,6 % avec un ratio amélioré de 13,9 %. Le Conseil a déclaré un dividende de 0,30 dollar par action pour le quatrième trimestre 2024.

Regional Management Corp. (NYSE: RM) hat die Ergebnisse des dritten Quartals 2024 bekannt gegeben, mit einem Nettoeinkommen von 7,7 Millionen Dollar und einem verwässerten Gewinn pro Aktie von 0,76 Dollar, beeinflusst durch 4,3 Millionen Dollar aufgrund von Hurrikans. Das Unternehmen erzielte Rekordumsätze von 146,3 Millionen Dollar und netto Finanzforderungen von 1,8 Milliarden Dollar, angetrieben durch ein sequenzielles Portfoliowachstum von 46 Millionen Dollar. Die Kreditperformance verbesserte sich mit einer Nettoausfallrate von 10,6% und einer über 30 Tagen fälligen Delinquenzrate von 6,9%, beide zeigten eine Verbesserung von 40 Basispunkten im Jahresvergleich. Die Betriebskosten stiegen nur um 0,6% bei einem verbesserten Verhältnis von 13,9%. Der Vorstand erklärte eine Dividende von 0,30 Dollar pro Aktie für das 4. Quartal 2024.

Positive
  • Record revenue of $146.3 million, up 3.9% year-over-year
  • Portfolio growth of $46 million to $1.8 billion, representing 10% annualized growth
  • Interest and fee yield improved by 90 basis points to 29.9%
  • 40 basis point improvement in net credit loss rate to 10.6%
  • Operating expense ratio improved by 50 basis points to 13.9%
Negative
  • $4.3 million negative impact from hurricane events
  • $2.1 million additional provision for hurricane-related credit losses
  • $3.5 million in increased property insurance claims and reserves
  • Total revenue yield decreased 10 basis points year-over-year
  • Provision for credit losses increased by $3.4 million (6.7%) year-over-year

Insights

Regional Management delivered a mixed Q3 2024 performance marked by record revenue and portfolio growth, despite hurricane-related challenges. The $7.7 million net income ($0.76 EPS) was impacted by $4.3 million in hurricane-related costs. Portfolio growth of $46 million reached $1.82 billion, with an encouraging 10% annualized growth rate.

Key positives include improved credit metrics with net credit losses at 10.6% and 30+ day delinquencies at 6.9%, both down 40 basis points year-over-year. The company maintained strong cost discipline with just 0.6% expense growth and improved operating efficiency. The strategic shift toward higher-margin small loans (now 28.8% of portfolio) and increased pricing drove interest yield up 90 basis points to 29.9%.

The company maintains solid liquidity with $154.7 million available and 82% fixed-rate debt at a favorable 4.3% weighted average coupon.

- Net income of $7.7 million and diluted earnings per share of $0.76, inclusive of a $4.3 million, or $0.42 per share, impact due to hurricane events occurring in the third quarter of 2024 -

- Record revenue and ending net receivables driven by $46 million of sequential portfolio growth, an annualized growth rate of 10% -

- Net credit loss rate of 10.6% and 30+ day contractual delinquency rate of 6.9% as of September 30, 2024, both 40 basis points better than the prior-year period -

- Continued expense discipline with operating expense increasing only 0.6% from the prior-year period and an operating expense ratio of 13.9%, a 50 basis point improvement year-over-year -

GREENVILLE, S.C.--(BUSINESS WIRE)-- Regional Management Corp. (NYSE: RM), a diversified consumer finance company, today announced results for the third quarter ended September 30, 2024.

“Our team once again delivered strong results in the third quarter, and our credit performance continues to improve,” said Robert W. Beck, President and Chief Executive Officer of Regional Management Corp. “We generated net income of $7.7 million and diluted EPS of $0.76, inclusive of a $4.3 million impact to net income from third quarter hurricane activity. On a pre-tax basis, we reserved $2.1 million for incremental net credit losses and $3.5 million for estimated personal property insurance claims caused by the hurricanes. While these charges created a drag on our third quarter results, we are pleased to be able to provide our customers with special borrower assistance programs and valuable personal property insurance benefits that will help them rebuild their lives.”

“Despite the hurricane challenges, we grew our portfolio by $46 million sequentially, or 2.6%, to $1.82 billion in the quarter, an annualized growth rate of just above 10%,” added Mr. Beck. “Quality portfolio growth drove our quarterly revenue to a record high of $146 million, and we improved our interest and fee yield by 90 basis points year-over-year to 29.9%—the highest it has been in over two years—from a combination of increased pricing, growth of our higher-margin small loan portfolio, and improved credit performance. Meanwhile, we kept a tight grip on G&A expense while still investing in our growth and strategic initiatives. We improved our operating expense ratio by 50 basis points from the prior-year period to 13.9%, and year-over-year revenue growth outpaced expense growth by 15 times.”

“Overall, our credit quality has improved and we have observed positive trends in our credit metrics in recent quarters, as we have maintained a tight credit box while also increasing the growth of our higher-margin small loan portfolio,” continued Mr. Beck. “Higher-quality originations in our front book continue to perform in line with our expectations, make up a larger portion of our portfolio, and are delivering at lower loss levels than our stressed back book vintages. Looking ahead, we will continue to monitor the economic environment, competitive dynamics, consumer health, and other factors as we allocate capital to grow the different pieces of our portfolio. Ultimately, we will build our portfolio in a way that will generate strong margins that meet our return hurdles and optimize short- and long-term results, while also appropriately balancing credit outcomes and customer needs.”

Third Quarter 2024 Highlights

  • Net income for the third quarter of 2024 was $7.7 million and diluted earnings per share was $0.76, inclusive of a $4.3 million, or $0.42 per share, impact due to hurricanes occurring in the third quarter of 2024.
    • Net income also reflects the impact of $46.0 million of sequential portfolio growth in the third quarter, which required a $4.6 million provision for credit losses, or $3.5 million after tax. The company is required to reserve for expected lifetime credit losses at origination of each loan, while the revenue benefits are recognized over the life of the loan, highlighting the impact of portfolio growth on our income statement.
  • Record net finance receivables as of September 30, 2024 of $1.8 billion, an increase of $68.7 million, or 3.9%, from the prior-year period.
    • Large loan net finance receivables of $1.3 billion increased $21.5 million, or 1.7%, from the prior-year period and represented 71.1% of the total loan portfolio, compared to 72.6% in the prior-year period.
    • Small loan net finance receivables of $524.8 million increased $50.6 million, or 10.7%, from the prior-year period and represented 28.8% of the total loan portfolio, compared to 27.1% in the prior-year period.
    • Net finance receivables with annual percentage rates (APRs) above 36% increased to 17.8% of the portfolio from 14.9% in the prior-year period, driven by the increase in the higher-margin small loan portfolio.
    • Customer accounts increased by 5.1% from the prior-year period.
  • Record total revenue for the third quarter of 2024 of $146.3 million, an increase of $5.5 million, or 3.9%, from the prior-year period, primarily due to growth in average net finance receivables and 90 basis points of higher interest and fee yield compared to the prior-year period.
    • The increase in interest and fee yield is attributable to increased pricing, growth of the higher-margin small loan portfolio, and improved credit performance.
    • Large loan interest and fee yield increased by 40 basis points, while the interest and fee yield of the higher-margin small loan portfolio increased by 120 basis points.
    • Total revenue yield decreased 10 basis points year-over-year primarily due to $3.5 million, or 80 basis points, in increased property insurance claims and reserves related to hurricanes occurring during the third quarter of 2024.
  • Provision for credit losses for the third quarter of 2024 was $54.3 million, an increase of $3.4 million, or 6.7%, from the prior-year period, inclusive of a $2.1 million incremental provision for credit losses associated with third quarter hurricane activity.
    • Annualized net credit losses as a percentage of average net finance receivables for the third quarter of 2024 were 10.6%, a 40 basis point improvement compared to 11.0% in the prior-year period. The third quarter 2024 net credit loss rate is inclusive of an estimated 30 basis point impact from year-over-year growth of the higher-rate small loan portfolio.
    • The provision for credit losses for the third quarter of 2024 included a reserve increase of $6.7 million, or $5.1 million after tax, primarily related to portfolio growth ($4.6 million of provision) and hurricanes ($2.1 million of provision) occurring during the third quarter of 2024.
    • Allowance for credit losses was $192.1 million as of September 30, 2024, or 10.6% of net finance receivables, a 10 basis point increase sequentially from 10.5% due to 20 basis points of impact for estimated credit losses related to hurricanes occurring during the third quarter of 2024.
  • As of September 30, 2024, 30+ day contractual delinquencies totaled $126.0 million, or 6.9% of net finance receivables, comparable sequentially and a 40 basis point improvement from September 30, 2023. The third quarter 2024 delinquency rate is inclusive of an estimated 20 basis point impact from year-over-year growth of the higher-rate small loan portfolio and a 40 basis point benefit from special borrower assistance programs offered to customers impacted by the hurricanes.
    • The delinquency rate of the large loan portfolio was 5.9% as of the end of the third quarter of 2024, a 60 basis point improvement from the prior-year period.
    • The delinquency rate of the small loan portfolio was 9.4% as of the end of the third quarter of 2024, a 20 basis point improvement from the prior-year period.
    • The third quarter 2024 delinquency rate for the small loan portfolio is inclusive of a 30 basis point impact from the year-over-year shift within the portfolio to higher-APR loans. The current-quarter delinquency rates for the large and small loan portfolios also each include 40 basis points of benefit from special borrower assistance programs offered to customers impacted by the hurricanes.
  • General and administrative expenses for the third quarter of 2024 were $62.5 million, an increase of $0.4 million, or 0.6%, from the prior-year period. The operating expense ratio (annualized general and administrative expenses as a percentage of average net finance receivables) for the third quarter of 2024 was 13.9%, a 50 basis point improvement from 14.4% in the prior-year period.

Fourth Quarter 2024 Dividend

The company’s Board of Directors has declared a dividend of $0.30 per common share for the fourth quarter of 2024. The dividend will be paid on December 11, 2024 to shareholders of record as of the close of business on November 21, 2024. The declaration and payment of any future dividend is subject to the discretion of the Board of Directors and will depend on a variety of factors, including the company’s financial condition and results of operations.

Liquidity and Capital Resources

As of September 30, 2024, the company had net finance receivables of $1.8 billion and debt of $1.4 billion. The debt consisted of:

  • $173.7 million on the company’s $355 million senior revolving credit facility,
  • $76.1 million on the company’s aggregate $375 million revolving warehouse credit facilities, and
  • $1.1 billion through the company’s asset-backed securitizations.

As of September 30, 2024, the company’s unused capacity to fund future growth on its revolving credit facilities (subject to the borrowing base) was $482 million, or 66.1%, and the company had available liquidity of $154.7 million, including unrestricted cash on hand and immediate availability to draw down cash from its revolving credit facilities. As of September 30, 2024, the company’s fixed-rate debt as a percentage of total debt was 82%, with a weighted-average coupon of 4.3% and a weighted-average revolving duration of 1.1 years.

The company had a funded debt-to-equity ratio of 4.0 to 1.0 and a stockholders’ equity ratio of 19.4%, each as of September 30, 2024. On a non-GAAP basis, the company had a funded debt-to-tangible equity ratio of 4.2 to 1.0, as of September 30, 2024. Please refer to the reconciliations of non-GAAP measures to comparable GAAP measures included at the end of this press release.

Conference Call Information

Regional Management Corp. will host a conference call and webcast today at 5:00 PM ET to discuss these results.

The dial-in number for the conference call is (855) 327-6837 (toll-free) or (631) 891-4304 (direct). Please dial the number 10 minutes prior to the scheduled start time.

*** A supplemental slide presentation will be made available on Regional’s website prior to the earnings call at www.RegionalManagement.com. ***

In addition, a live webcast of the conference call will be available on Regional’s website at www.RegionalManagement.com.

A webcast replay of the call will be available at www.RegionalManagement.com for one year following the call.

About Regional Management Corp.

Regional Management Corp. (NYSE: RM) is a diversified consumer finance company that provides attractive, easy-to-understand installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. Regional Management operates under the name “Regional Finance” online and in branch locations in 19 states across the United States. Most of its loan products are secured, and each is structured on a fixed-rate, fixed-term basis with fully amortizing equal monthly installment payments, repayable at any time without penalty. Regional Management sources loans through its multiple channel platform, which includes branches, centrally managed direct mail campaigns, digital partners, and its consumer website. For more information, please visit www.RegionalManagement.com.

Forward-Looking Statements

This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact but instead represent Regional Management Corp.’s expectations or beliefs concerning future events. Forward-looking statements include, without limitation, statements concerning financial outlooks or future plans, objectives, goals, projections, strategies, events, or performance, and underlying assumptions and other statements related thereto. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “outlook,” and similar expressions may be used to identify these forward-looking statements. Such forward-looking statements speak only as of the date on which they were made and are about matters that are inherently subject to risks and uncertainties, many of which are outside of the control of Regional Management. As a result, actual performance and results may differ materially from those contemplated by these forward-looking statements. Therefore, investors should not place undue reliance on forward-looking statements.

Factors that could cause actual results or performance to differ from the expectations expressed or implied in forward-looking statements include, but are not limited to, the following: managing growth effectively, implementing Regional Management’s growth strategy, and opening new branches as planned; Regional Management’s convenience check strategy; Regional Management’s policies and procedures for underwriting, processing, and servicing loans; Regional Management’s ability to collect on its loan portfolio; Regional Management’s insurance operations; exposure to credit risk and repayment risk, which risks may increase in light of adverse or recessionary economic conditions; the implementation of evolving underwriting models and processes, including as to the effectiveness of Regional Management's custom scorecards; changes in the competitive environment in which Regional Management operates or a decrease in the demand for its products; the geographic concentration of Regional Management’s loan portfolio; the failure of third-party service providers, including those providing information technology products; changes in economic conditions in the markets Regional Management serves, including levels of unemployment and bankruptcies; the ability to achieve successful acquisitions and strategic alliances; the ability to make technological improvements as quickly as competitors; security breaches, cyber-attacks, failures in information systems, or fraudulent activity; the ability to originate loans; reliance on information technology resources and providers, including the risk of prolonged system outages; changes in current revenue and expense trends, including trends affecting delinquencies and credit losses; any future public health crises, including the impact of such crisis on our operations and financial condition; changes in operating and administrative expenses; the departure, transition, or replacement of key personnel; the ability to timely and effectively implement, transition to, and maintain the necessary information technology systems, infrastructure, processes, and controls to support Regional Management’s operations and initiatives; changes in interest rates; existing sources of liquidity may become insufficient or access to these sources may become unexpectedly restricted; exposure to financial risk due to asset-backed securitization transactions; risks related to regulation and legal proceedings, including changes in laws or regulations or in the interpretation or enforcement of laws or regulations; changes in accounting standards, rules, and interpretations and the failure of related assumptions and estimates; the impact of changes in tax laws and guidance, including the timing and amount of revenues that may be recognized; risks related to the ownership of Regional Management’s common stock, including volatility in the market price of shares of Regional Management’s common stock; the timing and amount of future cash dividend payments; and anti-takeover provisions in Regional Management’s charter documents and applicable state law.

The foregoing factors and others are discussed in greater detail in Regional Management’s filings with the Securities and Exchange Commission. Regional Management will not update or revise forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments, or otherwise, except as required by law. Regional Management is not responsible for changes made to this document by wire services or Internet services.

 

Regional Management Corp. and Subsidiaries

Consolidated Statements of Income

(Unaudited)

(dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

Better (Worse)

 

 

 

 

 

 

 

 

Better (Worse)

 

 

 

3Q 24

 

 

3Q 23

 

 

$

 

 

%

 

 

YTD 24

 

 

YTD 23

 

 

$

 

 

%

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and fee income

 

$

133,932

 

 

$

125,018

 

 

$

8,914

 

 

 

7.1

%

 

$

390,648

 

 

$

363,508

 

 

$

27,140

 

 

 

7.5

%

Insurance income, net

 

 

7,422

 

 

 

11,382

 

 

 

(3,960

)

 

 

(34.8

)%

 

 

28,903

 

 

 

33,544

 

 

 

(4,641

)

 

 

(13.8

)%

Other income

 

 

4,984

 

 

 

4,478

 

 

 

506

 

 

 

11.3

%

 

 

14,120

 

 

 

12,688

 

 

 

1,432

 

 

 

11.3

%

Total revenue

 

 

146,338

 

 

 

140,878

 

 

 

5,460

 

 

 

3.9

%

 

 

433,671

 

 

 

409,740

 

 

 

23,931

 

 

 

5.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

 

54,349

 

 

 

50,930

 

 

 

(3,419

)

 

 

(6.7

)%

 

 

154,574

 

 

 

151,149

 

 

 

(3,425

)

 

 

(2.3

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personnel

 

 

38,323

 

 

 

39,832

 

 

 

1,509

 

 

 

3.8

%

 

 

113,240

 

 

 

114,848

 

 

 

1,608

 

 

 

1.4

%

Occupancy

 

 

6,551

 

 

 

6,315

 

 

 

(236

)

 

 

(3.7

)%

 

 

19,075

 

 

 

18,761

 

 

 

(314

)

 

 

(1.7

)%

Marketing

 

 

5,078

 

 

 

4,077

 

 

 

(1,001

)

 

 

(24.6

)%

 

 

14,229

 

 

 

11,300

 

 

 

(2,929

)

 

 

(25.9

)%

Other

 

 

12,516

 

 

 

11,880

 

 

 

(636

)

 

 

(5.4

)%

 

 

36,508

 

 

 

33,414

 

 

 

(3,094

)

 

 

(9.3

)%

Total general and administrative

 

 

62,468

 

 

 

62,104

 

 

 

(364

)

 

 

(0.6

)%

 

 

183,052

 

 

 

178,323

 

 

 

(4,729

)

 

 

(2.7

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

19,356

 

 

 

16,947

 

 

 

(2,409

)

 

 

(14.2

)%

 

 

54,725

 

 

 

49,953

 

 

 

(4,772

)

 

 

(9.6

)%

Income before income taxes

 

 

10,165

 

 

 

10,897

 

 

 

(732

)

 

 

(6.7

)%

 

 

41,320

 

 

 

30,315

 

 

 

11,005

 

 

 

36.3

%

Income taxes

 

 

2,502

 

 

 

2,077

 

 

 

(425

)

 

 

(20.5

)%

 

 

10,007

 

 

 

6,783

 

 

 

(3,224

)

 

 

(47.5

)%

Net income

 

$

7,663

 

 

$

8,820

 

 

$

(1,157

)

 

 

(13.1

)%

 

$

31,313

 

 

$

23,532

 

 

$

7,781

 

 

 

33.1

%

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.79

 

 

$

0.94

 

 

$

(0.15

)

 

 

(16.0

)%

 

$

3.25

 

 

$

2.51

 

 

$

0.74

 

 

 

29.5

%

Diluted

 

$

0.76

 

 

$

0.91

 

 

$

(0.15

)

 

 

(16.5

)%

 

$

3.16

 

 

$

2.45

 

 

$

0.71

 

 

 

29.0

%

Weighted-average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

9,683

 

 

 

9,429

 

 

 

(254

)

 

 

(2.7

)%

 

 

9,622

 

 

 

9,385

 

 

 

(237

)

 

 

(2.5

)%

Diluted

 

 

10,090

 

 

 

9,650

 

 

 

(440

)

 

 

(4.6

)%

 

 

9,900

 

 

 

9,613

 

 

 

(287

)

 

 

(3.0

)%

Return on average assets (annualized)

 

 

1.7

%

 

 

2.0

%

 

 

 

 

 

 

 

 

2.3

%

 

 

1.8

%

 

 

 

 

 

 

Return on average equity (annualized)

 

 

8.7

%

 

 

10.8

%

 

 

 

 

 

 

 

 

12.3

%

 

 

9.8

%

 

 

 

 

 

 

 

Regional Management Corp. and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

(dollars in thousands, except par value amounts)

 

 

 

 

 

 

 

 

 

Increase (Decrease)

 

 

 

3Q 24

 

 

3Q 23

 

 

$

 

 

%

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

4,745

 

 

$

7,413

 

 

$

(2,668

)

 

 

(36.0

)%

Net finance receivables

 

 

1,819,756

 

 

 

1,751,009

 

 

 

68,747

 

 

 

3.9

%

Unearned insurance premiums

 

 

(46,508

)

 

 

(48,764

)

 

 

2,256

 

 

 

4.6

%

Allowance for credit losses

 

 

(192,100

)

 

 

(184,900

)

 

 

(7,200

)

 

 

(3.9

)%

Net finance receivables, less unearned insurance premiums and allowance for credit losses

 

 

1,581,148

 

 

 

1,517,345

 

 

 

63,803

 

 

 

4.2

%

Restricted cash

 

 

115,576

 

 

 

117,029

 

 

 

(1,453

)

 

 

(1.2

)%

Lease assets

 

 

37,229

 

 

 

34,864

 

 

 

2,365

 

 

 

6.8

%

Intangible assets

 

 

22,250

 

 

 

15,048

 

 

 

7,202

 

 

 

47.9

%

Restricted available-for-sale investments

 

 

21,727

 

 

 

22,510

 

 

 

(783

)

 

 

(3.5

)%

Property and equipment

 

 

13,425

 

 

 

14,157

 

 

 

(732

)

 

 

(5.2

)%

Deferred tax assets, net

 

 

11,833

 

 

 

14,140

 

 

 

(2,307

)

 

 

(16.3

)%

Other assets

 

 

13,898

 

 

 

22,834

 

 

 

(8,936

)

 

 

(39.1

)%

Total assets

 

$

1,821,831

 

 

$

1,765,340

 

 

$

56,491

 

 

 

3.2

%

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Debt

 

$

1,395,892

 

 

$

1,372,748

 

 

$

23,144

 

 

 

1.7

%

Unamortized debt issuance costs

 

 

(4,645

)

 

 

(5,647

)

 

 

1,002

 

 

 

17.7

%

Net debt

 

 

1,391,247

 

 

 

1,367,101

 

 

 

24,146

 

 

 

1.8

%

Lease liabilities

 

 

39,350

 

 

 

37,095

 

 

 

2,255

 

 

 

6.1

%

Accounts payable and accrued expenses

 

 

38,306

 

 

 

30,559

 

 

 

7,747

 

 

 

25.4

%

Total liabilities

 

 

1,468,903

 

 

 

1,434,755

 

 

 

34,148

 

 

 

2.4

%

Stockholders’ equity:

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock ($0.10 par value, 100,000 shares authorized, none issued or outstanding)

 

 

 

 

 

 

 

 

 

 

 

 

Common stock ($0.10 par value, 1,000,000 shares authorized, 14,971 shares issued and 10,164 shares outstanding at September 30, 2024 and 14,642 shares issued and 9,835 shares outstanding at September 30, 2023)

 

 

1,497

 

 

 

1,464

 

 

 

33

 

 

 

2.3

%

Additional paid-in capital

 

 

129,936

 

 

 

119,507

 

 

 

10,429

 

 

 

8.7

%

Retained earnings

 

 

371,725

 

 

 

360,155

 

 

 

11,570

 

 

 

3.2

%

Accumulated other comprehensive loss

 

 

(87

)

 

 

(398

)

 

 

311

 

 

 

78.1

%

Treasury stock (4,807 shares at September 30, 2024 and September 30, 2023)

 

 

(150,143

)

 

 

(150,143

)

 

 

 

 

 

 

Total stockholders’ equity

 

 

352,928

 

 

 

330,585

 

 

 

22,343

 

 

 

6.8

%

Total liabilities and stockholders’ equity

 

$

1,821,831

 

 

$

1,765,340

 

 

$

56,491

 

 

 

3.2

%

 

Regional Management Corp. and Subsidiaries

Selected Financial Data

(Unaudited)

(dollars in thousands, except per share amounts)

 

 

 

Net Finance Receivables

 

 

 

3Q 24

 

 

2Q 24

 

 

QoQ $
Inc (Dec)

 

 

QoQ %
Inc (Dec)

 

 

3Q 23

 

 

YoY $
Inc (Dec)

 

 

YoY %
Inc (Dec)

 

Large loans

 

$

1,293,410

 

 

$

1,266,032

 

 

$

27,378

 

 

 

2.2

%

 

$

1,271,891

 

 

$

21,519

 

 

 

1.7

%

Small loans

 

 

524,826

 

 

 

505,640

 

 

 

19,186

 

 

 

3.8

%

 

 

474,181

 

 

 

50,645

 

 

 

10.7

%

Retail loans

 

 

1,520

 

 

 

2,071

 

 

 

(551

)

 

 

(26.6

)%

 

 

4,937

 

 

 

(3,417

)

 

 

(69.2

)%

Total net finance receivables

 

$

1,819,756

 

 

$

1,773,743

 

 

$

46,013

 

 

 

2.6

%

 

$

1,751,009

 

 

$

68,747

 

 

 

3.9

%

Number of branches at period end

 

 

340

 

 

 

343

 

 

 

(3

)

 

 

(0.9

)%

 

 

347

 

 

 

(7

)

 

 

(2.0

)%

Net finance receivables per branch

 

$

5,352

 

 

$

5,171

 

 

$

181

 

 

 

3.5

%

 

$

5,046

 

 

$

306

 

 

 

6.1

%

 

 

Averages and Yields

 

 

 

3Q 24

 

 

2Q 24

 

 

3Q 23

 

 

 

Average Net Finance Receivables

 

 

Average
Yield (1)

 

 

Average Net Finance Receivables

 

 

Average
Yield (1)

 

 

Average Net Finance Receivables

 

 

Average
Yield (1)

 

Large loans

 

$

1,279,720

 

 

 

26.7

%

 

$

1,255,729

 

 

 

26.1

%

 

$

1,257,168

 

 

 

26.3

%

Small loans

 

 

511,294

 

 

 

37.8

%

 

 

490,615

 

 

 

37.3

%

 

 

459,320

 

 

 

36.6

%

Retail loans

 

 

1,795

 

 

 

16.3

%

 

 

2,433

 

 

 

16.6

%

 

 

5,647

 

 

 

16.9

%

Total interest and fee yield

 

$

1,792,809

 

 

 

29.9

%

 

$

1,748,777

 

 

 

29.3

%

 

$

1,722,135

 

 

 

29.0

%

Total revenue yield

 

$

1,792,809

 

 

 

32.6

%

 

$

1,748,777

 

 

 

32.7

%

 

$

1,722,135

 

 

 

32.7

%

(1) Annualized interest and fee income as a percentage of average net finance receivables.

 

 

 

Components of Increase in Interest and Fee Income

 

 

 

3Q 24 Compared to 3Q 23

 

 

 

Increase (Decrease)

 

 

 

Volume

 

 

Rate

 

 

Volume & Rate

 

 

Total

 

Large loans

 

$

1,484

 

 

$

1,246

 

 

$

23

 

 

$

2,753

 

Small loans

 

 

4,757

 

 

 

1,410

 

 

 

159

 

 

 

6,326

 

Retail loans

 

 

(162

)

 

 

(8

)

 

 

5

 

 

 

(165

)

Product mix

 

 

(948

)

 

 

986

 

 

 

(38

)

 

 

 

Total increase in interest and fee income

 

$

5,131

 

 

$

3,634

 

 

$

149

 

 

$

8,914

 

 

 

 

Loans Originated (1)

 

 

 

3Q 24

 

 

2Q 24

 

 

QoQ $
Inc (Dec)

 

 

QoQ %
Inc (Dec)

 

 

3Q 23

 

 

YoY $
Inc (Dec)

 

 

YoY %
Inc (Dec)

 

Large loans

 

$

251,563

 

 

$

254,779

 

 

$

(3,216

)

 

 

(1.3

)%

 

$

251,999

 

 

$

(436

)

 

 

(0.2

)%

Small loans

 

 

174,632

 

 

 

171,282

 

 

 

3,350

 

 

 

2.0

%

 

 

173,074

 

 

 

1,558

 

 

 

0.9

%

Total loans originated

 

$

426,195

 

 

$

426,061

 

 

$

134

 

 

 

 

 

$

425,073

 

 

$

1,122

 

 

 

0.3

%

(1) Represents the principal balance of loan originations and refinancings.

 

 

 

Other Key Metrics

 

 

 

3Q 24

 

 

2Q 24

 

 

3Q 23

 

Net credit losses

 

$

47,649

 

 

$

55,502

 

 

$

47,430

 

Percentage of average net finance receivables (annualized)

 

 

10.6

%

 

 

12.7

%

 

 

11.0

%

Provision for credit losses

 

$

54,349

 

 

$

53,802

 

 

$

50,930

 

Percentage of average net finance receivables (annualized)

 

 

12.1

%

 

 

12.3

%

 

 

11.8

%

Percentage of total revenue

 

 

37.1

%

 

 

37.6

%

 

 

36.2

%

General and administrative expenses

 

$

62,468

 

 

$

60,136

 

 

$

62,104

 

Percentage of average net finance receivables (annualized)

 

 

13.9

%

 

 

13.8

%

 

 

14.4

%

Percentage of total revenue

 

 

42.7

%

 

 

42.0

%

 

 

44.1

%

Same store results (1):

 

 

 

 

 

 

 

 

 

Net finance receivables at period-end

 

$

1,815,187

 

 

$

1,759,075

 

 

$

1,684,757

 

Net finance receivable growth rate

 

 

3.7

%

 

 

4.5

%

 

 

4.9

%

Number of branches in calculation

 

 

337

 

 

 

338

 

 

 

330

 

(1) Same store sales reflect the change in year-over-year sales for the comparable branch base. The comparable branch base includes those branches open for at least one year.

 

 

 

Contractual Delinquency

 

 

 

3Q 24

 

 

2Q 24

 

 

3Q 23

 

Allowance for credit losses

 

$

192,100

 

 

 

10.6

%

 

$

185,400

 

 

 

10.5

%

 

$

184,900

 

 

 

10.6

%


Current

 

 

1,529,171

 

 

 

84.1

%

 

 

1,497,219

 

 

 

84.4

%

 

 

1,472,931

 

 

 

84.2

%

1 to 29 days past due

 

 

164,568

 

 

 

9.0

%

 

 

153,788

 

 

 

8.7

%

 

 

149,648

 

 

 

8.5

%

Delinquent accounts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30 to 59 days

 

 

35,300

 

 

 

1.9

%

 

 

34,924

 

 

 

1.9

%

 

 

36,502

 

 

 

2.1

%

60 to 89 days

 

 

27,704

 

 

 

1.5

%

 

 

27,689

 

 

 

1.6

%

 

 

28,130

 

 

 

1.6

%

90 to 119 days

 

 

23,964

 

 

 

1.4

%

 

 

21,607

 

 

 

1.2

%

 

 

23,420

 

 

 

1.3

%

120 to 149 days

 

 

22,544

 

 

 

1.2

%

 

 

19,333

 

 

 

1.1

%

 

 

21,309

 

 

 

1.2

%

150 to 179 days

 

 

16,505

 

 

 

0.9

%

 

 

19,183

 

 

 

1.1

%

 

 

19,069

 

 

 

1.1

%

Total contractual delinquency

 

$

126,017

 

 

 

6.9

%

 

$

122,736

 

 

 

6.9

%

 

$

128,430

 

 

 

7.3

%

Total net finance receivables

 

$

1,819,756

 

 

 

100.0

%

 

$

1,773,743

 

 

 

100.0

%

 

$

1,751,009

 

 

 

100.0

%

1 day and over past due

 

$

290,585

 

 

 

15.9

%

 

$

276,524

 

 

 

15.6

%

 

$

278,078

 

 

 

15.8

%

 

 

 

Contractual Delinquency by Product

 

 

 

3Q 24

 

 

2Q 24

 

 

3Q 23

 

Large loans

 

$

76,435

 

 

 

5.9

%

 

$

76,432

 

 

 

6.0

%

 

$

82,256

 

 

 

6.5

%

Small loans

 

 

49,351

 

 

 

9.4

%

 

 

46,015

 

 

 

9.1

%

 

 

45,438

 

 

 

9.6

%

Retail loans

 

 

231

 

 

 

15.2

%

 

 

289

 

 

 

14.0

%

 

 

736

 

 

 

14.9

%

Total contractual delinquency

 

$

126,017

 

 

 

6.9

%

 

$

122,736

 

 

 

6.9

%

 

$

128,430

 

 

 

7.3

%

 

 

 

Income Statement Quarterly Trend

 

 

 

3Q 23

 

 

4Q 23

 

 

1Q 24

 

 

2Q 24

 

 

3Q 24

 

 

QoQ $
B(W)

 

 

YoY $
B(W)

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and fee income

 

$

125,018

 

 

$

126,190

 

 

$

128,818

 

 

$

127,898

 

 

$

133,932

 

 

$

6,034

 

 

$

8,914

 

Insurance income, net

 

 

11,382

 

 

 

10,985

 

 

 

10,974

 

 

 

10,507

 

 

 

7,422

 

 

 

(3,085

)

 

 

(3,960

)

Other income

 

 

4,478

 

 

 

4,484

 

 

 

4,516

 

 

 

4,620

 

 

 

4,984

 

 

 

364

 

 

 

506

 

Total revenue

 

 

140,878

 

 

 

141,659

 

 

 

144,308

 

 

 

143,025

 

 

 

146,338

 

 

 

3,313

 

 

 

5,460

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

 

50,930

 

 

 

68,885

 

 

 

46,423

 

 

 

53,802

 

 

 

54,349

 

 

 

(547

)

 

 

(3,419

)


Personnel

 

 

39,832

 

 

 

42,024

 

 

 

37,820

 

 

 

37,097

 

 

 

38,323

 

 

 

(1,226

)

 

 

1,509

 

Occupancy

 

 

6,315

 

 

 

6,268

 

 

 

6,375

 

 

 

6,149

 

 

 

6,551

 

 

 

(402

)

 

 

(236

)

Marketing

 

 

4,077

 

 

 

4,474

 

 

 

4,315

 

 

 

4,836

 

 

 

5,078

 

 

 

(242

)

 

 

(1,001

)

Other

 

 

11,880

 

 

 

12,030

 

 

 

11,938

 

 

 

12,054

 

 

 

12,516

 

 

 

(462

)

 

 

(636

)

Total general and administrative

 

 

62,104

 

 

 

64,796

 

 

 

60,448

 

 

 

60,136

 

 

 

62,468

 

 

 

(2,332

)

 

 

(364

)


Interest expense

 

 

16,947

 

 

 

17,510

 

 

 

17,504

 

 

 

17,865

 

 

 

19,356

 

 

 

(1,491

)

 

 

(2,409

)

Income (loss) before income taxes

 

 

10,897

 

 

 

(9,532

)

 

 

19,933

 

 

 

11,222

 

 

 

10,165

 

 

 

(1,057

)

 

 

(732

)

Income taxes

 

 

2,077

 

 

 

(1,958

)

 

 

4,728

 

 

 

2,777

 

 

 

2,502

 

 

 

275

 

 

 

(425

)

Net income (loss)

 

$

8,820

 

 

$

(7,574

)

 

$

15,205

 

 

$

8,445

 

 

$

7,663

 

 

$

(782

)

 

$

(1,157

)

Net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.94

 

 

$

(0.80

)

 

$

1.59

 

 

$

0.88

 

 

$

0.79

 

 

$

(0.09

)

 

$

(0.15

)

Diluted

 

$

0.91

 

 

$

(0.80

)

 

$

1.56

 

 

$

0.86

 

 

$

0.76

 

 

$

(0.10

)

 

$

(0.15

)

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

9,429

 

 

 

9,437

 

 

 

9,569

 

 

 

9,613

 

 

 

9,683

 

 

 

(70

)

 

 

(254

)

Diluted

 

 

9,650

 

 

 

9,437

 

 

 

9,746

 

 

 

9,863

 

 

 

10,090

 

 

 

(227

)

 

 

(440

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet Quarterly Trend

 

 

 

3Q 23

 

 

4Q 23

 

 

1Q 24

 

 

2Q 24

 

 

3Q 24

 

 

QoQ $
Inc (Dec)

 

 

YoY $
Inc (Dec)

 

Total assets

 

$

1,765,340

 

 

$

1,794,527

 

 

$

1,756,748

 

 

$

1,789,052

 

 

$

1,821,831

 

 

$

32,779

 

 

$

56,491

 

Net finance receivables

 

$

1,751,009

 

 

$

1,771,410

 

 

$

1,744,286

 

 

$

1,773,743

 

 

$

1,819,756

 

 

$

46,013

 

 

$

68,747

 

Allowance for credit losses

 

$

184,900

 

 

$

187,400

 

 

$

187,100

 

 

$

185,400

 

 

$

192,100

 

 

$

6,700

 

 

$

7,200

 

Debt

 

$

1,372,748

 

 

$

1,399,814

 

 

$

1,358,795

 

 

$

1,378,449

 

 

$

1,395,892

 

 

$

17,443

 

 

$

23,144

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Key Metrics Quarterly Trend

 

 

 

3Q 23

 

 

4Q 23

 

 

1Q 24

 

 

2Q 24

 

 

3Q 24

 

 

QoQ
Inc (Dec)

 

 

YoY
Inc (Dec)

 

Interest and fee yield (annualized)

 

 

29.0

%

 

 

28.8

%

 

 

29.3

%

 

 

29.3

%

 

 

29.9

%

 

 

0.6

%

 

 

0.9

%

Efficiency ratio (1)

 

 

44.1

%

 

 

45.7

%

 

 

41.9

%

 

 

42.0

%

 

 

42.7

%

 

 

0.7

%

 

 

(1.4

)%

Operating expense ratio (2)

 

 

14.4

%

 

 

14.8

%

 

 

13.7

%

 

 

13.8

%

 

 

13.9

%

 

 

0.1

%

 

 

(0.5

)%

30+ contractual delinquency

 

 

7.3

%

 

 

6.9

%

 

 

7.1

%

 

 

6.9

%

 

 

6.9

%

 

 

 

 

 

(0.4

)%

Net credit loss ratio (3)

 

 

11.0

%

 

 

15.1

%

 

 

10.6

%

 

 

12.7

%

 

 

10.6

%

 

 

(2.1

)%

 

 

(0.4

)%

Book value per share

 

$

33.61

 

 

$

33.02

 

 

$

34.10

 

 

$

33.96

 

 

$

34.72

 

 

$

0.76

 

 

$

1.11

 

(1) General and administrative expenses as a percentage of total revenue.
(2) Annualized general and administrative expenses as a percentage of average net finance receivables.
(3) Annualized net credit losses as a percentage of average net finance receivables.

 

 

 

Averages and Yields

 

 

 

YTD 24

 

 

YTD 23

 

 

 

Average Net Finance Receivables

 

 

Average
Yield (1)

 

 

Average Net Finance Receivables

 

 

Average
Yield (1)

 

Large loans

 

$

1,266,363

 

 

 

26.3

%

 

$

1,232,170

 

 

 

26.1

%

Small loans

 

 

497,987

 

 

 

37.7

%

 

 

456,893

 

 

 

35.4

%

Retail loans

 

 

2,521

 

 

 

16.2

%

 

 

7,252

 

 

 

17.5

%

Total interest and fee yield

 

$

1,766,871

 

 

 

29.5

%

 

$

1,696,315

 

 

 

28.6

%

Total revenue yield

 

$

1,766,871

 

 

 

32.7

%

 

$

1,696,315

 

 

 

32.2

%

 

 

 

Components of Increase in Interest and Fee Income

 

 

 

YTD 24 Compared to YTD 23

 

 

 

Increase (Decrease)

 

 

 

Volume

 

 

Rate

 

 

Volume & Rate

 

 

Total

 

Large loans

 

$

6,695

 

 

$

1,651

 

 

$

46

 

 

$

8,392

 

Small loans

 

 

10,910

 

 

 

7,784

 

 

 

700

 

 

 

19,394

 

Retail loans

 

 

(621

)

 

 

(72

)

 

 

47

 

 

 

(646

)

Product mix

 

 

(1,864

)

 

 

2,177

 

 

 

(313

)

 

 

 

Total increase in interest and fee income

 

$

15,120

 

 

$

11,540

 

 

$

480

 

 

$

27,140

 

 

 

 

Loans Originated (1)

 

 

 

YTD 24

 

 

YTD 23

 

 

YTD $
Inc (Dec)

 

 

YTD %
Inc (Dec)

 

Large loans

 

$

691,416

 

 

$

695,084

 

 

$

(3,668

)

 

 

(0.5

)%

Small loans

 

 

487,195

 

 

 

432,018

 

 

 

55,177

 

 

 

12.8

%

Retail loans

 

 

 

 

 

146

 

 

 

(146

)

 

 

(100.0

)%

Total loans originated

 

$

1,178,611

 

 

$

1,127,248

 

 

$

51,363

 

 

 

4.6

%

(1) Represents the principal balance of loan originations and refinancings.

 

 

Other Key Metrics

 

 

 

YTD 24

 

 

YTD 23

 

Net credit losses

 

$

149,874

 

 

$

145,049

 

Percentage of average net finance receivables (annualized)

 

 

11.3

%

 

 

11.4

%

Provision for credit losses

 

$

154,574

 

 

$

151,149

 

Percentage of average net finance receivables (annualized)

 

 

11.7

%

 

 

11.9

%

Percentage of total revenue

 

 

35.6

%

 

 

36.9

%

General and administrative expenses

 

$

183,052

 

 

$

178,323

 

Percentage of average net finance receivables (annualized)

 

 

13.8

%

 

 

14.0

%

Percentage of total revenue

 

 

42.2

%

 

 

43.5

%

Non-GAAP Financial Measures

In addition to financial measures presented in accordance with generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures. The company’s management utilizes non-GAAP measures as additional metrics to aid in, and enhance, its understanding of the company’s financial results. Tangible equity and the funded debt-to-tangible equity ratio are non-GAAP measures that adjust GAAP measures to exclude intangible assets. Management uses these equity measures to evaluate and manage the company’s capital and leverage position. The company also believes that these equity measures are commonly used in the financial services industry and provide useful information to users of the company’s financial statements in the evaluation of its capital and leverage position.

This non-GAAP financial information should be considered in addition to, not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. In addition, the company’s non-GAAP measures may not be comparable to similarly titled non-GAAP measures of other companies. The following tables provide a reconciliation of GAAP measures to non-GAAP measures.

 

 

3Q 24

 

Debt

 

$

1,395,892

 


Total stockholders' equity

 

 

352,928

 

Less: Intangible assets

 

 

22,250

 

Tangible equity (non-GAAP)

 

$

330,678

 


Funded debt-to-equity ratio

 

 

4.0

x

Funded debt-to-tangible equity ratio (non-GAAP)

 

 

4.2

x

 

Investor Relations

Garrett Edson, (203) 682-8331

investor.relations@regionalmanagement.com

Source: Regional Management Corp.

FAQ

What was Regional Management's (RM) net income for Q3 2024?

Regional Management reported net income of $7.7 million and diluted earnings per share of $0.76 for Q3 2024.

How much did hurricanes impact RM's Q3 2024 earnings?

Hurricane events in Q3 2024 had a $4.3 million impact on net income, equivalent to $0.42 per share.

What was RM's total revenue for Q3 2024?

Regional Management achieved record revenue of $146.3 million in Q3 2024, an increase of $5.5 million or 3.9% from the prior year.

What dividend did RM declare for Q4 2024?

Regional Management declared a dividend of $0.30 per common share for Q4 2024, payable on December 11, 2024.

REGIONAL MANAGEMENT CORP

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