Enova Beats on Adjusted EPS but Revenue Falls 23.5%, Missing Estimates
ENVA sits 56% above its 52-week low of $111.125.
Summary
Enova reported Q3 adjusted EPS of $4.48, ahead of the $4.42 consensus and up from $3.36 a year ago. The problem is the top line: revenue fell 23.5% to $614.36 million against analyst expectations of $1.00 billion, a wide miss. Reported EPS was $4.06 with net income of $107.3 million. The stock had already run 7.7% this quarter and 14.5% year to date into the print, so the revenue shortfall is the number that matters for the next session. This follows the October 16 termination of the Grasshopper merger and the September pivot to accelerated buybacks after the bank deal collapsed.
At the time of this announcement, ENVA was trading at $173.00 on NYSE in the Finance sector, with a market capitalization of approximately $4.4B. The 52-week trading range was $111.13 to $267.45. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.