Qudian (QD) Reports In-Line Q4 EPS, Revenues Beat

March 29, 2021 5:57 AM EDT
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Qudian (NYSE: QD) reported Q4 EPS of $0.39, in-line with the analyst estimate of $0.39. Revenue for the quarter came in at $109.4 million versus the consensus estimate of $96.34 million.

Fourth Quarter 2020 Financial Highlights:

  • Total revenues were RMB713.6 million (US$109.4 million), representing a decrease of 63.1% from the same period of last year
  • Net income increased by 427.0% year-on-year to RMB673.9 million (US$103.3 million), or RMB2.54 (US$0.39) per diluted ADS
  • Non-GAAP net income[3] increased by 335.6% year-on-year to RMB683.5 million (US$104.8 million), or RMB2.57 (US$0.39) per diluted ADS

"Despite pandemic-driven uncertainty and challenging market conditions as well as a continuously shifting regulatory environment, we were able to conclude 2020 with further improvements in our asset quality as we remained vigilant in our cash credit business operation," said Mr. Min Luo, Founder, Chairman and Chief Executive Officer of Qudian. "During the fourth quarter of 2020, we maintained strict credit approval standards as we focused on borrowers with strong credit profiles. By the end of the fourth quarter, our overall D1 delinquency rate[4] fell to approximately 11%, from around 17% at the end of the third quarter, reflecting the effectiveness of our strategy. As 2021 unfolds, we will continue to prudently operate our cash loan business while simultaneously exploring new areas for growth."

"Given that 2020 saw the impact from a weakened global economy and intricate online lending market dynamics, we upheld stringent credit risk assessments for new loans originated on our platform. At the same time, we remain dedicated to pursuing new investment opportunities. Supported by ample cash reserves and a healthy financial position, our core strengths and solid fundamentals can bolster the long-term sustainability of our overall business," said Ms. Sissi Zhu, Vice President of Investor Relations of Qudian.

For earnings history and earnings-related data on Qudian (QD) click here.

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