Regional Management Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:15 pm EDT
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Regional Management Corp. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 11.38 million compared to USD 11.99 million a year ago. Revenue was USD 140.88 million compared to USD 131.45 million a year ago. Net income was USD 8.82 million compared to USD 10.07 million a year ago. Basic earnings per share from continuing operations was USD 0.94 compared to USD 1.09 a year ago. Diluted earnings per share from continuing operations was USD 0.91 compared to USD 1.06 a year ago.
For the nine months, sales was USD 33.54 million compared to USD 32.75 million a year ago. Revenue was USD 409.74 million compared to USD 375.17 million a year ago. Net income was USD 23.53 million compared to USD 48.83 million a year ago. Basic earnings per share from continuing operations was USD 2.51 compared to USD 5.23 a year ago. Diluted earnings per share from continuing operations was USD 2.45 compared to USD 5.01 a year ago.
Regional Management Corp. is a diversified consumer finance company. The Company provides installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. Its products include small and large installment loans. It provides its customers optional payment and collateral protection insurance. It offers small installment loans with cash proceeds to customers ranging from $500 to $2,500, with terms of up to 48 months. It offers large installment loans with cash proceeds to customers ranging from $2,501 to $25,000, with terms between 18 and 60 months. It offers its customers optional payment and collateral protection insurance relating to its loan products, including credit life insurance, accident and health insurance, involuntary unemployment insurance, and personal property insurance. The Company also offers indirect retail installment loans of up to $7,500. It operates under the name Regional Finance.
REGIONAL MANAGEMENT CORP. 
