Yirendai (YRD) Reports Q3 EPS of $0.86, Revenues Miss

Yirendai (NYSE: YRD) reported Q3 EPS of $0.86, versus $0.52 reported last year. Revenue for the quarter came in at $163.25 million versus the consensus estimate of $213.5 million.

"Despite a challenging industry environment during the quarter, we achieved solid performance," commented Ms. Yihan Fang, Chief Executive Officer of Yirendai. "We have seen continuously strong demand from investors on our platform, with our PICC insured loan products being sold out every day, reinforcing our leadership position. We remain confident about Yirendai\'s long-term prospects amid an uncertain industry environment."

"As the industry goes through the regulatory evaluation process, we maintain a prudent risk and growth policy," commented Mr. Dennis Cong, Chief Financial Officer of Yirendai. "We are currently awaiting regulators to begin on-site inspections at Yirendai and we are exceedingly confident of our ability to meet registration requirements. This quarter, one of our top priorities was cash and liquidity management, and with efforts made in product and funding diversification, we believe that we are in a solid cash and liquidity position, making us well-positioned to resume our growth and capture market opportunities as the industry consolidates."

• Basic income per ADS in the third quarter of 2018 was RMB 2.46 (US$0.36), decreased from RMB 5.00 in the same period last year.
• Adjusted basic income per ADS in the third quarter of 2018 was RMB 5.97 (US$0.87). Adjusted basic income per ADS includes RMB 215.9 million adjustment on income earned from loans facilitated prior to 2018, if ASC 606 was not adopted.
• Diluted income per ADS in the third quarter of 2018 was RMB 2.43 (US$0.35), decreased from RMB 4.91 in the same period last year.
• Adjusted diluted income per ADS in the third quarter of 2018 was RMB 5.89 (US$0.86). Adjusted diluted income per ADS includes RMB 215.9 million adjustment on income earned from loans facilitated prior to 2018, if ASC 606 was not adopted.
• Net cash used in operating activities in the third quarter of 2018 was RMB 138.2 million (US$20.1 million), compared to RMB 1,370.1 million in the second quarter of 2018.

For earnings history and earnings-related data on Yirendai (YRD) click here.

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