Consumer Portfolio Services, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 15, 2023 at 11:51 am EDT
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Consumer Portfolio Services, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported revenue was USD 83.02 million compared to USD 69.37 million a year ago. Net income was USD 14.14 million compared to USD 18.97 million a year ago. Basic earnings per share from continuing operations was USD 0.69 compared to USD 0.88 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.71 a year ago.
For the full year, the company reported revenue was USD 329.709 million compared to USD 267.811 million a year ago. Net income was USD 85.983 million compared to USD 47.524 million a year ago. Basic earnings per share from continuing operations was USD 4.10 compared to USD 2.11 a year ago. Diluted earnings per share from continuing operations was USD 3.23 compared to USD 1.84 a year ago.
Consumer Portfolio Services, Inc. is a specialty finance company. The Companyâs business is to provide purchase and service retail automobile contracts originated primarily by franchised automobile dealers and, to a lesser extent, by select independent dealers in the United States in the sale of new and used automobiles, light trucks, and passenger vans. Through its automobile contract purchases, it provides indirect financing to the customers of dealers. It serves as an alternative source of financing for dealers, facilitating sales to customers from traditional sources, such as commercial banks, credit unions, and the finance companies affiliated with automobile manufacturers. It also originates vehicle purchase money loans by lending directly to consumers. It offers over eight different financing programs and prices each program according to relative credit risk. Its financing programs include First Time Buyer, Mercury / Delta, Standard, Alpha, Alpha Plus, Super Alpha and Preferred.
CONSUMER PORTFOLIO SERVICES, INC. 
