WRLD - Earnings call transcript Q1 2019 | World Acceptance Corporation

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Operator

Good morning, and welcome to the World Acceptance Corporation's Sponsored First Quarter Press Release Conference call. This call is being recorded. [Operator Instructions].

Before we begin, the Corporation has requested that I make some following announcement. The comments made during this conference call may contain certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the corporation's expectations and beliefs concerning future events. about are are risks subject statements uncertainties. and forward-looking matters inherently that to Such those fact statements. plan, of those than similar any other Statements historical foregoing the the will should and anticipate, variation may, of identified are as words estimate, believe, intend, forward-looking expect, expressions and or by as well

time the obligation or results subsequent this not to XX-K March differ in from Chad XXXX Additional and information any discussing to and Prashad, President to filed are to ended performance to statements The from paragraph such XX, Chief floor factors reports that undertake statements expectations Officer. is host, forward-looking section it corporation fiscal turn At update recent in or press does expressed implied the makes. statements or regarding forward-looking the statements could in it forward-looking over Form Executive cause furnished the Corporation's any most the any with today's pleasure year actual my and time. release forward-looking time, the of Risk to SEC included for and earnings the Factors in your

Chad Prashad

as so have. excited script to World with This to earning and open the Prashad. morning. time, Chad you've had first up CEO Hope who the all is be it Calmes, this press any questions and and Acceptance time John review and I'm I'll is my on call Corporation. you Good I'm here release President of to at joined go our CFO.

Operator

with Caintic from take [Operator our Instructions]. We'll question Vincent first Stephens.

Vincent Caintic

the recent Thanks. Chad the you if the long in onboard. CEO, any the term in kind the term, and you are first going could of your priorities you I'm near could past? Thanks broad just we've – Chad been most – for guys and I vision welcome from good of discuss Company changes if and the where maybe guess is question morning

Chad Prashad

morning. for Good Thanks the question.

year with Hopefully of been guys we've do of made results begun years plan and those we've the a have the I've we by credit default. to doesn't or some our those with continue changes a offering the two. Company for for World from changes. or access My four to the have expectation and made of to come our to vision their losing My last improve is that you strategy. of see millions who continue lender vehicle investments our lot So, the over changes to to of is come a the with don't communities, doesn't payday you of that

want we that in the to to amongst make get that those success the of know Company, been things one broader to quality investing has high-performing field. better all providing out, flexible So, continue providing people, levels decision are data The and teams, things biggest and for hiring the at talented you us of insight vision. decisions have infrastructure

I increased in of believe things we're segment in we going loans current that the we're in lower We the without in having by about in move and the quarter, larger This in. of our earnings seen We've to there lot currently population serving it's success year-over-year or yields. sorry release XX% script. segment new to we've customers with those continue a is the So, want believe past potential mentioned the forward.

that's are focused with while in deal continuing now for to success recently. the we future, possibility and So, a broader

Vincent Caintic

any impairment sale, you decisioning and the Thank you. the keeping terms maybe of was you then thoughts Okay. proceeds. on plans of your why think sale of loss by mix in guess particular I took that Thanks. buyer, and the the the kind describe indemnifying then and on were particularly just around wondering Great. selling could for the question I the if business the what next an My business in

John Calmes

Company, selling in that at the question see we It's our we cost future, capital. the we'll when was, feel Mexico take can of – looked only Vincent. I approached way the from we it like the returns do

we winding past we in from earnings months. and X I revenues continue think the business, calls, said down to as Viva the over were the those will next Viva months we but have still diminish XX business currently to

the happens, we related cost business, some to As reduce while not Viva of the it proportional. it's can

in returns our diminish future. we expecting are So, business the in to see that

So, the Company. sell right to is we the decision thought that

in years. was large equity in transaction. while of completed, Yeah, once extent. this that's an equity that once of the to ignore is a there quarter, impact it's negative the the currency a majority that on builds XX so over tend earnings sort complete in the last the on We amount, had translation, up was So, taken by vast goes impairment the equity up but and equity that can number that release, you in adjustment we held sale to so as sale, the equity neutral been

Vincent Caintic

go-forward modeling Mexico if Okay. us the, we get you terms to could taking going in Got with – if should of what should we what we be we out go so can on, be basis? just the expense Is the it. thinking forward revenues, on, help U.S. through there so and about from

John Calmes

so taking in sure reporting comment operations, segment right. look it's I'm this our the continued fillings, – this just there's in represented you when quarter at years – mentioned past from a or

or been out up, have stripped start. results [indiscernible] to your Mexico probably operations, the statement of discontinued best place going so income our So,

Vincent Caintic

Okay. Got it. Thanks guys.

Operator

Rowan John go [Operator with Instructions]. We'll next Janney. to

John Rowan

and a other price look you what at guys to you possibly and business as feel $XX you the know comparable received it? How about look at was you the you use did to deals got the from million Mexico do for

John Calmes

Right.

to – price you got they we the to this a So, always But and I is where landed. we think about we get price get best higher think like right. it try than possible could

John Rowan

to open business? the marketing buyer a a process in it find it limited you was was of or know a Okay, limited

John Calmes

sort a can I it that was – was process. say of lengthy It

John Rowan

if Mexico, that appropriate are Okay. you share off holding is – guarantees we buyers activity And for the resume? not to you've just comment are you you assumption then maybe guess wait you an Mexico do is be maybe that over, the or given see we know know the potential about on the mean any to but I Investigation to the know I comment I on repurchases. that just the share repo to said you going would until have really repurchases,

John Calmes

to fair that And they something forward. probably going do to to we that's reassess position we'll that Yeah, think assumption we is on until and think same could we resume feel that. continue investigation but with the buybacks regular resolved, that, If think to the won't that reassess. it's at the basis. restarting time a a after I that we'll prior do I continue comfortable

John Rowan

very Okay. much. Thank you

Operator

call no in Chad or turn like I'd over the back further questions with [Operator queue, Prasad any additional to the With Instructions]. to closing remarks.

Chad Prashad

on you, the for today. call guys, Thank us joining

be about here. forward business to and going optimistic continue U.S. focusing the We very

prospects to U.S. With the And allows appreciate investment is We're the lot Mexico, the very about to towards the in of the we this forward. time you of us, here sale us best we our need be what morning. really for a efforts excited believe going have shift

Operator

disconnect. conference may does conclude you for today's This thank your We call. participation now you

World Acceptance (WRLD) 26 Jul 182019 Q1 Earnings call transcript