Atlanticus reports Q2 EPS $1.51, consensus $1.23

Reports Q2 revenue $393.8M, consensus $355.5M. CEO Jeff Howard stated, “We were able to achieve a number of meaningful milestones across our business in the second quarter. These achievements include reaching 4 million customers served, crossing $3B in managed receivables, originating a record 590,000 new accounts on behalf of our bank partners, and funding a record $998M in purchase volume. We were able to achieve these milestones while maintaining rigorous underwriting standards and focusing on the achievement of desired unit level economics. As a result, we also realized a return on average equity of over 20%. These milestones have been achieved not by taking on more risk, but by expanding access to our credit-as-a-service platform through additional marketing initiatives, expanded partnerships, improved product offerings, and new retail partners. Our efforts continue to focus on adding value for our bank, merchant and healthcare partners, and ultimately offering a best-in-class service to the 4 million customers that we serve. As pleased as we are with these achievements in the quarter, we are even more excited about the opportunities that lie ahead. We see continued opportunities for disciplined growth in all our channels and remain focused on leveraging our scale for consistent, profitable results.”