Consumer Portfolio Services, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:30 pm EST
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Consumer Portfolio Services, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 92.08 million compared to USD 90.31 million a year ago. Net income was USD 10.38 million compared to USD 25.41 million a year ago. Basic earnings per share from continuing operations was USD 0.49 compared to USD 1.22 a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to USD 0.95 a year ago.
For the nine months, revenue was USD 260.04 million compared to USD 246.69 million a year ago. Net income was USD 38.16 million compared to USD 71.85 million a year ago. Basic earnings per share from continuing operations was USD 1.83 compared to USD 3.39 a year ago. Diluted earnings per share from continuing operations was USD 1.51 compared to USD 2.61 a year ago.
Consumer Portfolio Services, Inc. is a specialty finance company. The Companyâs business is to provide purchase and service retail automobile contracts originated primarily by franchised automobile dealers and, to a lesser extent, by select independent dealers in the United States in the sale of new and used automobiles, light trucks, and passenger vans. Through its automobile contract purchases, it provides indirect financing to the customers of dealers. It serves as an alternative source of financing for dealers, facilitating sales to customers from traditional sources, such as commercial banks, credit unions, and the finance companies affiliated with automobile manufacturers. It also originates vehicle purchase money loans by lending directly to consumers. It offers over eight different financing programs and prices each program according to relative credit risk. Its financing programs include First Time Buyer, Mercury / Delta, Standard, Alpha, Alpha Plus, Super Alpha and Preferred.
CONSUMER PORTFOLIO SERVICES, INC. 
