Regional Managment Corp (RM) Tops Q2 EPS by 3c

Regional Managment Corp (NYSE: RM) reported Q2 EPS of $0.70, $0.03 better than the analyst estimate of $0.67. Revenue for the quarter came in at $66.83 million versus the consensus estimate of $73.49 million.

“We produced another strong quarter at Regional, as we continue to consistently generate double-digit finance receivable and top line growth, led by our core portfolio,” said Peter R. Knitzer, President and Chief Executive Officer of Regional Management. “Additionally, by maintaining our solid credit profile and controlling our overall expenses, we are expanding our margins and continuing to record double-digit bottom line growth on a year-over-year basis.”

“In addition to our very solid second quarter performance, we were pleased to complete our first asset-backed term securitization, fully backed by large loan receivables,” continued Mr. Knitzer. “Our successful securitization allowed us to lower our cost of capital and further diversify our funding capabilities. Moving ahead, in the back half of 2018, we are squarely focused on our hybrid growth strategy supported by our de novo branch expansion, which includes expanding our footprint into the Midwest, while continuing to increase our receivables at our existing branches. All in, we are delivering on consistent and profitable growth and remain optimally positioned to continue to generate long-term shareholder value.”

For earnings history and earnings-related data on Regional Managment Corp (RM) click here.

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