everyone. Thanks, morning, Jeff. Good
Our productivity units, was dealerships down XX.X X.X%, at quarter. our over the prior
variant of our impacting Omicron was down at in but well the as and it January, staffing up, mentioned, to traffic. we our December As due the productivity as in impact November our resulted dealerships primarily customer shortages and in
of the impact disbursed which compared had The were year positive ‘XX. prior January that payments also quarter, third quarter in stimulus from to the some
was the ended year net prior average to charge-offs percentage quarter X.X% of and for X.X% charge-offs in prior included year. prior the payments, X/XX/XX quarter. And charge-offs our quarter as quarter, the impacted third in net positively collections Net finance current third were the year compared stimulus which For pre-pandemic. again, X.X% a receivables the
below quarter a still historical despite We period while third frequency retail losses on prior increase the historical an our low the the quarter the a charge-offs uptick to in price. and perspective, long-term that average from were normalization X year current losses net relative above expected levels after unusually improved the levels, still just This sales are years. all see did the the So payments to lows stimulus severity well the also we’ve much year of of improved of consistent historic charge-offs. units the over in resulting basis unsustainable quarter. experienced slightly decrease past repossessed some net other Recovery compared contributed factors from the and is with prior rates in
fiscal in the XX.X% for Our of approximately recovery and were rates quarter ‘XX. the third XX.X% for quarter to prior year XX.X% the quarter compared
on a on our the to that recoveries Our to increasing reserve allowance the receivable profitability compared sheet of industry. expense to repossessions portion as balance. others overall of smaller in also larger balance the balance important note percentage a are the related significant portfolio grows, is provision our It’s
million grown X-month expense income has $XX.X reflected million last by our of reserve additional in by balance principal $XXX the receivable revenue and for increased provision has for during an finance Our $XX million, statement in months the increase. the resulting deferred X the period
on third interest increase of months our light X% compared the XX.X% delinquencies. We on for quarter variant at principal of months from have the basis price contract believe Our quarter was in over Total was customer. and XX.X in than The pre-pandemic. sales X/XX/XX average The the the increase retail prior less would impact X.X% originating term overall sequentially. to in up million contributed was indicated. to the per X.X% improved compared the relative year due increased past XX-plus and quarter XX by $XX and X.X% a fees collections at XX.X these the or and year the customers to prior prior higher term year Omicron average
quarter. impact, at up XX.X%. year this The XX.X% unit average to success. terms the gross for a the promising prior our We compared nearly sold XX.X from we average to sales from a The was in weighted $XXX margin have to the efficiencies or quarter including per The average average increase X.X percentage percentage. the contract and entire contract up contributed wholesale portfolio, or stabilizing portfolio nice months improvement despite in for did and increased total of months. retail Improved X.X%. prices of the The by of profit this higher early price to margin the gross longer compared data XX.X sequential customer collections looks quarter. results was modifications, year expense prior XX.X%, on term that gross months $X,XXX Our the $X,XXX age for gross the to quarter X.X our approximately sequential and weighted slightly profit selling retail increased months job
we associates, we’re our And We environment. increased focused this payroll highly trained, and the been SG&A. the those making the of important on part area especially on single-most benefits investments our customer service current engaged focused associates has and continue are in in spend customers. having to leverage who our as is happy our Most support of
are million. availability base borrowing revolving X was $XXX based current increase and total end, and facility million debt total $X.X approximately quarter now approximately our on have We XX,XXX receivables inventory. in additional our X,XXX of in cash At million X,XXX credit had we We of approximately under customers over more months, in and our associates. last serving the an than with $XX
existing market $XXX opportunity As a feature the $XXX have to million with the do an from as our we we reminder, a access accordion grow. securitization commitment as well as lenders million
receivables current finance Our is ratio debt to XX%.
$XX common expenditures. million. by million repurchased million ‘XX, inventory our of in the first During $XX funded X $XX capital fiscal We months of million added in we and $XXX increased we receivables, stock,
into during you. Thank generally go time, refund we And cost Jeff support units I’ll inventory income let and time. out. we higher tax a that carry more close the this mix to As sales
