CPS Announces Second Quarter 2025 Earnings

Core Insights - Consumer Portfolio Services, Inc. reported earnings of $4.8 million, or $0.20 per diluted share, for Q2 2025, reflecting an increase from $4.7 million, or $0.19 per diluted share, in Q2 2024 [1][2] Financial Performance - Revenues for Q2 2025 were $109.8 million, up $13.9 million, or 14.5%, from $95.9 million in Q2 2024 [2][10] - Total operating expenses for Q2 2025 were $102.8 million, compared to $89.2 million in the same period of 2024 [2][12] - Pretax income for Q2 2025 increased to $7.0 million from $6.7 million in Q2 2024 [2][10] - For the six months ended June 30, 2025, total revenues were $216.6 million, an increase of approximately $29.0 million, or 15.5%, compared to $187.6 million for the same period in 2024 [3] - Net income for the six months ended June 30, 2025, rose to $9.5 million from $9.3 million in the prior year [3][12] Portfolio and Contracts - During Q2 2025, CPS purchased $433.0 million of new contracts, slightly up from $431.9 million in Q2 2024 [4][14] - The company's receivables totaled $3.708 billion as of June 30, 2025, an increase from $3.615 billion as of March 31, 2025, and from $3.173 billion as of June 30, 2024 [4][14] Credit Quality - Annualized net charge-offs for Q2 2025 were 7.45% of the average portfolio, compared to 7.26% for Q2 2024 [5][15] - Delinquencies greater than 30 days were 13.14% of the total portfolio as of June 30, 2025, down from 13.29% as of June 30, 2024 [5][15] Management Commentary - The CEO highlighted improvements in earnings and operating efficiencies, emphasizing a focus on credit quality and loan performance as the portfolio grows [6]