WRLD - Earnings call transcript Q4 2019 | World Acceptance Corporation

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Operator

Good morning and welcome to the World Acceptance Corporation sponsored fourth quarter press release conference call. This call is being recorded. [Operator Instructions] Before we begin, the corporation has requested that I make the following announcements. 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 represents the corporation's expectations and beliefs concerning future events. Such forward-looking statements are about matters that are inherently subject to risks and uncertainties. any of words as expect, forward-looking anticipate, will should those identified as believe, statements. than foregoing and the the by estimate, or other historical expressions well facts, those may, and Statements similar of are variation intend, plan,

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

Chad Prashad

Good Calmes, officer; Acceptance. Chief by chance is joined I'm and have. of John may trust morning. CEO General World this also we'll Chad you Prashad, then time, a President release and Strategy to Counsel. Umstetter, and released This At you've Luke Financial I morning. questions the our that our had and to all that press we open read this earnings transcript earlier that any up

Operator

from comes first The Joseph question Instructions] [Operator Jefferies. Kyle from

Kyle Joseph

the that. job, have initiatives driving environment? -- a sense just accelerate? it's a more sense seeing, but are you Or Any us is doing undertaken the for changes give give acceleration good it a that? So regarding Just you growth more you guys of of what's competitive driving to a what's us obviously more in guys thing can are little guys continued you because

Chad Prashad

sure. Yes,

did year-over-year we the contributed year, acquisitions total So have which this a about third growth. in past quarter, our of to of couple X%

John Calmes

X%, yes. X% to

Chad Prashad

X% growth word-of-mouth so, for to of and has customers. the year. improvements the our year-over-year presence to of our to or X% out X%, and growth see of from referrals The you growth, most in that rest also XX.X% of that around the X.X% total organic do increased just X% of marketing, with general growth that digital

Kyle Joseph

that? expect it. additionally, Got And looked is Is anything has like then to customers? that related to insurance driving continue? accelerated. can the we trend it revenue And new Anything that a

John Calmes

that had some driven of a the where lot by of growth is So been.

And some products. of the insurance we've states had rely that year over acquisitions been in last on that the have

with the really it should of So growth portfolio. line happens be in. which things it overall -- equal, growth all in function where the the of would a states grow, But

Kyle Joseph

helpful. And for you credit. credit dynamics it. to how performance fairly to want sense credit borrowers, of Got then a those shifting give seeing and stable? the trends been Totally there, Have -- get That's understand us kind there? impact are new what repeat accounts just

Chad Prashad

tender of lot us delinquency we're rates. similar improved a have seeing with to that customers charge-off repeat for board the or Across Yes. customers, and

Kyle Joseph

authorization Got XXX,XXX about quarter. remind the did the you Can it. then in your you us so And on buybacks, shares guys remaining just your lastly, and appetite?

John Calmes

Sure.

medium the option an adding -- structure, term the see we available available have attractive under term. of around current at facility short repurchase had credit on million XX% the capital of net XX.X income. X.X million end authorization, attractive under we use for of So an as current the We in the quarter, QX the and still and

Kyle Joseph

talk me, the in impacts quarter? any Can you in from Got about it. delay just One and the tax apologies. one last refunds

Chad Prashad

our of to last year. think, us seen in than about quarter. haven't tax refunds, later come late week an tax we February We to overall, impact experience this just early huge a to a the seems March, year. I it did So Most increase throughout preparation in, our fourth in

year-over-year prepared either about the of and or up have taxes a we're the in increase. we or that -- we some of And that the XX% filed. number government proxy to the combination contributed X think may I offer shutdown

Operator

[Operator Janney. Instructions] Rowan question from at We'll take John the next

John Rowan

of an a I of? like income XX% buy basically the model net Just kind But more in -- -- of quarter, forward, seems in was had is of that of I more XX mean going the of program the XX% kind the maybe it rate net could of institution appropriate that is maybe of income. you trailing months that how sort repurchase and catch-up of because perpetuity fourth the

John Calmes

That's right.

that So -- -- over buildup fiscal the fiscal in year-to-date, a that we've had fiscal of 'XX, fiscal 'XX all bucket included and XXXX.

building. level. how buying this achieved we'll be initial that's So gotten that we've all more and At to just point, of that we've than

now, of quarter current to at have XX.X available right as the income. of the add or under under XX% the net we consolidated buy And So in we'll facility. as of mid to that facility, million

John Rowan

Okay.

that's So based the available credit million, of on current the the that's buildup XX prior income your agreement? current the authorization, or per that's

John Calmes

Right.

to repurchase. buildup the that the that's have current So credit under we facility available

John Rowan

much. repurchased count XXX,XXX on you Okay. didn't that obviously, the share go And then down but by came -- XXX,XXX, share count, your right,

right way wondering the you the it's know at timing a the fiscal and difficult the to handicap if opposed that quarter was, going there's what what was I'm So I end of that into could to share count diluted answer, the average for share the as 'XX. get count number can us we

John Calmes

Right.

the ended you share restricted though legally beginning don't -- number, even they're in the outstanding. the include shares -- count unvested So we

into calculating that number. don't For go purposes EPS, of they

around change, and right, if So with price. you the the million, share will dilution, for happens you on add start X.X that number based what XXX,XXX, with XXX,XXX

I a XXX,XXX on the basis. So estimate think but dilution quarterly XXX,XXX is to good -- in pretty a

John Rowan

in a large significantly right the to influenced assume the was rate use tax the going tax I had what's And by your then And quarter forward? -- share price. Okay. rate that

John Calmes

the tax lot the year and Well, year. so quarter and current driven past drove current of and in for some -- tax we a it down years, the purchased is rate credits that state

range. to and/or credits, be able that those will we we'll XX% structure continue state we tax still to attempt possibly are change make to tax our XX% that those continue range. it the sort changes an to structure tax in rate could think and purchases state change in XX% tax basis those a be the buy benefit. forward structure, annual on in the to or tax XX% obviously, going purchasing to So Absent of permanent If

John Rowan

peer you one -- possibly peers of bit. from saw your lastly, benefit any them lot night I your there's a And night bonds your and trimming bit last up wondering and wondering incremental if a if last you trimming Okay. your credit having about customers talked overlap in I'm mean -- little then your I'm a of about talked branches, branch. shelving

Chad Prashad

possible. certainly that's think I

our However, which experienced our same the lot growth we necessarily a of footprint footprint, isn't competitors. across as entire

So it areas may some across be board. a contributing contributing factor the isn't but in probably

Operator

this questions no It time, appears Prashad. there Mr. at further are

Chad Prashad

we our for thanks look This joining in concludes XXXX Well, August. to forward call, again and conference year-end talking us.

Operator

participation. your This for World teleconference. Corporation you concludes Acceptance quarterly Thank the

disconnect. now may You

World Acceptance (WRLD) 12 May 192019 Q4 Earnings call transcript