Earnings PerformancePropel delivered Q3 results with EPS and adjusted EBITDA below expectations, and the firm’s reduced loan growth guidance amidst a more challenging macroeconomic environment.
Economic EnvironmentThe impacts of a changing US economy have created a less attractive near-term risk-reward profile for new customers, leading management to focus on its current customer base and shift up the credit ladder.
Guidance ReductionThe company reduced its guidance for ending CLAB growth and adjusted EBITDA margin, indicating a more conservative approach in the near term.