World Acceptance NASDAQ: WRLD reported fourth quarter fiscal 2026 earnings per share of $7.70, supported by higher revenue and loan growth, while management said the company is entering fiscal 2027 “positioned very well” despite watching consumer pressures such as elevated gas prices.
On the call, Interim President and CEO Janet Matricciani said she rejoined the company on April 13 and is “pleased to be leading the team as we strengthen and grow our company.” She added she looks forward to providing more detail in coming quarters.
Quarterly results and notable items
Chief Financial Officer John L. Calmes, Jr. said the quarter’s EPS included “the impact of one of our senior executives retiring,” which had an after-tax impact of about $0.25 per share.
Total revenue increased 7.4% in the quarter, which Calmes attributed to “an increase in loans outstanding and yields.” Interest, fee and insurance income rose 5.4%, and Calmes said the company expects “similar increases in the coming quarters.”
Loan growth, credit trends, and customer mix
Calmes said the company increased loans outstanding by 4.4% while reducing delinquency “in both rate and dollars.” He said that combination “should lead to higher revenues and lower charge-offs in the coming quarters.”
Management also signaled a shift in how growth will be pursued. Calmes said World Acceptance “intend[s] to rely less on new customers in the coming year,” adding that the approach “should have a positive impact on credit metrics.”
Tax preparation season and consumer backdrop
Calmes highlighted a strong tax preparation period, stating the company saw “returns prepared increase 13%” and calling it a “fantastic tax preparation season.”
During the question-and-answer session, Stephens Managing Director Kyle Joseph asked about macroeconomic conditions, including the impact of larger tax refunds on demand and credit, and whether higher gas prices in March had offset those benefits.
Chief Operating Officer Tobin Turner said the company is monitoring recent loan vintages closely and is “fairly pleased with their performance.” He said the company has been “watching our credit box around the margin pretty tightly,” and while high gas prices are “definitely on our radar,” he added the company is not “seeing a significant impact” in the most recent vintages “at least yet.”
Calmes echoed that view, pointing to improving delinquency trends. “Our front-end delinquency and back-end delinquency looks really strong and improving over March of last year,” he said, while adding the company is continuing to watch for potential impacts.
Expense actions and personnel outlook
Calmes said World Acceptance increased field personnel in the third fiscal quarter to address service gaps, then reduced field headcount by 5% in the fourth quarter. He said the move should reduce personnel expense in coming quarters compared with the third and fourth quarters of fiscal 2026.
For fiscal 2027, Calmes provided an expense range, saying personnel expense is expected to be between $47 million and $49 million in the first three quarters, and “slightly higher than that in the fourth quarter.”
Capital allocation and growth expectations
Calmes said the company repurchased $37.8 million of shares during the quarter. Combined with repurchases earlier in the fiscal year, he said the activity equated to 16.5% of outstanding shares at the beginning of the year.
Joseph also asked about leverage limitations and how much growth the company can pursue while balancing share repurchases. Calmes said, “there’s no leverage limitations,” and described an overarching growth objective of “mid-single-digit” loan growth, “maybe a little higher.”
In closing remarks, Matricciani thanked participants for their interest in the company and said management looks forward to “our path ahead.”
About World Acceptance NASDAQ: WRLD
World Acceptance Corporation NASDAQ: WRLD is a consumer finance company headquartered in Greenville, South Carolina. Founded in 1972, the company provides credit solutions to underserved customers who may have limited access to traditional banking services. Over the decades, World Acceptance has built a reputation for tailored lending that emphasizes responsible underwriting and personalized customer service.
The company's core product offerings include short-term installment loans designed to meet the immediate financial needs of its clients.
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