Enova Q2 Originations Hit Record, Full-Year Guidance Raised

Enova International reported second-quarter adjusted earnings per share of $1.72 and revenue of $724 million for the period ended June 30. Originations hit $1.67 billion, a record and up 24% from a year earlier. Growth came across both consumer and small-business segments, CEO Steven Cunningham said on the earnings call. Net charge-off rate improved to 7.2% from 7.6% a year ago. The 30-day delinquency rate held steady at 3.3%.

For the third quarter, Enova guided revenue in a range of $730 million to $755 million. The company also lifted its full-year revenue outlook to a range of $2.91 billion to $2.98 billion, up from a prior $2.8 billion to $2.9 billion.

CFO Scott Cornelis said Enova's credit models are performing as expected and that the company sees no deterioration in consumer health. The loan portfolio grew 17% year over year to $3.9 billion. The stock carries an Alpha Score of 70 out of 100 from AlphaScala's proprietary model.