Oportun Financial reports Q2 adjusted EPS 31c, consensus 22c

Reports Q2 revenue $234.3M, consensus $239.59M. “We delivered a strong second quarter, marking our third consecutive quarter of GAAP profitability with a $38 million year-over-year improvement in net income and a $0.92 improvement in EPS,” said Raul Vazquez, CEO of Oportun. “Adjusted EPS also grew year-over-year, for the fourth straight quarter, nearly quadrupling. We saw notable gains in Return on Equity and Adjusted ROE, reinforcing our momentum toward achieving our long-term ROE target of 20% to 28%. Operationally, we drove meaningful expense reductions and continued to improve our credit performance while further strengthening our balance sheet, highlighted by our recent ABS transaction-completed at a significantly lower cost of capital than our first quarter financing, and earning our first AAA rating.”