Enova International (NYSE: ENVA) reported Q1 EPS of $0.26, $1.10 worse than the analyst estimate of $1.36. Revenue for the quarter came in at $362 million versus the consensus estimate of $339.55 million.

"Ahead of the rapid deterioration in the economic environment during late March, we were on track to deliver another solid quarter as reflected by strong year-over-year growth in receivables and revenue. Excluding assumptions we made in our fair value measurements to address the uncertain credit environment as the quarter closed, we would have once again delivered financial results consistent with our guidance ranges," said Steve Cunningham, CFO of Enova. "Our financial position will be a strength as we navigate economic uncertainties in the coming months. Our balance sheet resiliency is supported by a solid tangible capital position, significant committed financing capacity with strong counterparties, and low refinancing risk from thoughtful laddering of debt maturities. We ended the quarter with sizable cash balances, which had grown to $292 million on April 24. We expect cash and available liquidity to continue to grow as the business generates significant positive cash flow, especially as we slow new originations in the near term."

GUIDANCE:

Enova is monitoring and adapting quickly to changes in the current environment due to the COVID-19 pandemic. Given the ongoing economic uncertainty resulting from the speed of the economic slowdown and joblessness that began in March and the timing of re-opening the economy as social distancing restrictions are lifted, the Company is not providing guidance for the second quarter of 2020 and is withdrawing its full year 2020 guidance that was issued on January 29, 2020.

For earnings history and earnings-related data on Enova International (ENVA) click here.