Enova Q3 adjusted EPS beats estimates on healthy loan demand, stable credit
ENVA•Enova reported Q3 revenue of $1.009 billion, up 26% and slightly above estimates, while adjusted EPS rose 33% to $4.48, beating consensus of $4.42. The company repurchased $46 million of common stock during the quarter.
1. Quarterly results
Enova’s Q3 revenue increased 26% year over year to $1.009 billion, slightly above the $1.002 billion analyst estimate. Adjusted EPS rose 33% to $4.48, compared with consensus of $4.42; adjusted EBITDA was $269 million versus an estimate of $246.33 million.
2. Demand and credit
The company said healthy demand supported double-digit growth in originations, receivables, revenue and adjusted EPS. Its net charge-off ratio improved year over year, net revenue margin was stable sequentially, and the delinquency ratio increased from a year earlier.
3. Capital and outlook
Enova repurchased $46 million of common stock in Q3 and reported $1.3 billion of liquidity. It did not provide specific financial guidance for future quarters or the full year.
