Regional Managment Corp (NYSE: RM) reported Q3 EPS of $1.08, $0.13 better than the analyst estimate of $0.95. Revenue for the quarter came in at $91.7 million versus the consensus estimate of $88.42 million.

“We are thrilled with our results for the third quarter, delivering very strong top and bottom line double-digit year-over-year growth,” said Peter R. Knitzer, President and Chief Executive Officer of Regional Management. “We had another record quarter of sequential receivable growth, and our core loan portfolio grew by 22% versus the prior year. In addition, we surpassed the $1 billion receivable milestone during the quarter. Our growth in receivables led to another quarter of strong revenue, further validating our hybrid growth strategy.”

“Importantly, our credit quality remained stable and our custom credit scorecards continue to perform as expected, with 30+ day delinquencies down 50 basis points compared to the prior-year period. We expect to receive the benefits from these advanced credit tools in 2020 and beyond,” added Mr. Knitzer. “While we continued to invest in areas like digital, operating expenses as a percentage of receivables improved 60 basis points versus the prior-year period, demonstrating strong control of expenses. We remain well positioned to achieve a second consecutive quarter of double-digit net income growth in the fourth quarter of 2019 and to deliver long-term shareholder value.”

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