The following is a summary of the Regional Management Corp. (RM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Regional Management Corp. reported Q1 2024 net income of $15.2 million and diluted earnings per share of $1.56.

• Generated a record quarterly revenue of $144 million, driven by growth in higher-margin, small loan portfolio and increased pricing.

• Managed its 1Q expense base aggressively allowing for a sequential improvement in operating expense ratio by 110 basis points.

• Despite business growth, personnel costs decreased by almost $800,000 due to conservative business management.

• The company beat their specific guidance for the quarter by $5 million.

Business Progress:

• A strong credit performance was maintained due to tighter underwriting guidelines and growth in the high-margin small loan portfolio.

• The company plans to increase investment in marketing in H2, expecting this to positively impact 2025 results.

• Despite inflation and interest rates, full-year guidance was maintained, demonstrating adequate liquidity and significant borrowing capacity.

• Investments are being made in technology, digital, and data analytics projects, crucial to the company's modernization and omnichannel business strategy.

• In terms of market expansion, Regional Management has entered new states and has plans to add new branches this year, possibly entering additional markets in 2025.

• The company is strategically focusing on balance, developing both higher risk small loans with good returns as well as lower risk auto-secured loans.

More details: Regional Management IR

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