Regional Managment Corp (RM) Tops Q4 EPS by 43c, Revenues Beat

Regional Managment Corp (NYSE: RM) reported Q4 EPS of $1.28, $0.43 better than the analyst estimate of $0.85. Revenue for the quarter came in at $97.44 million versus the consensus estimate of $93.19 million.

“We delivered outstanding portfolio growth and profitability in the fourth quarter, further validating the sustainability of our omni-channel operating model and our team’s ability to execute across the board,” said Robert W. Beck, President and Chief Executive Officer of Regional Management Corp. “Our new initiatives and customer service offerings enabled us to grow our core loan portfolio by $80 million in the quarter and by $19 million in 2020, a notable achievement in a challenging environment. At the same time, we kept 30+ day delinquencies stable, indicative of the resiliency of our customer base and our strong underwriting capabilities.”

“Looking ahead, we remain focused on expanding our market share, maintaining the credit quality of our loan portfolio, and extending our competitive advantages,” added Mr. Beck. “Over the next 18 months, we will acquire new customers through innovation and geographic expansion. We are investing in digital initiatives that will improve the online prequalification experience for our applicants, enable online closing and electronic funding of loans to new and existing customers, and evolve our customer engagement with the introduction of a mobile app and an upgraded online portal. In parallel, we will expand our operations into four to five new states, making our valuable product set available to millions of new consumers.”

“In summary, we remain confident in our ability to create long-term value and generate excess capital to return to our shareholders,” said Mr. Beck. “The future is bright for all of Regional’s stakeholders.”

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

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