Atlanticus reported strong Q2 financial results with increases in managed receivables, total revenue, and new accounts

From GlobeNewswire: 2024-08-08 20:12:00

Atlanticus Holdings Corporation announced its Q2 financial results, including an 11.1% increase in managed receivables to $2.4 billion and a 8.6% increase in total operating revenue to $315.6 million. The company served over 325,000 new accounts in the quarter and reported a return on equity of 17.0%. Net income attributable to common shareholders was $18.0 million. The company’s partnership with Synchrony was highlighted as a key driver of growth. The company continues to expect growth in managed receivables and total operating revenue for the remainder of 2024. Interest expense increased to $37.9 million, driven by an increase in outstanding debt. The company anticipates additional debt financing over the next few quarters. Changes in fair value of loans increased to $186.3 million, largely due to growth in receivables and changes in assumptions due to potential new rules from the CFPB.



Read more at GlobeNewswire:: Atlanticus Reports Second Quarter 2024 Financial Results