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World Acceptance Corp  (WRLD)
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What are World Acceptance's Business Segments?



Lending and Collection Operations. The Company seeks to provide short-term consumer installment loans to the segment of the population that has limited access to other sources of credit. In evaluating the creditworthiness of potential customers, the Company primarily examines the individual's discretionary income, length of current employment and/or sources of income, duration of residence and prior credit experience. Loans are made to individuals on the basis of their discretionary income and other factors and are limited to amounts we believe that customers can reasonably be expected to repay from that income given our assessment of their stability, ability and willingness to pay. All loan applicants are required to complete standardized credit applications in person or by telephone at local Company branches. Each of the Company's local branches are equipped to perform rapid background, employment and credit checks and approve loan applications promptly, often while the customer waits. The Company's employees verify the applicant's sources of income and credit histories through telephone checks with employers, other employment references and verification with various credit bureaus. Substantially all new customers are required to submit a listing of personal property that will serve as collateral to secure the loan, but the Company does not rely on the value of such collateral in the loan approval process and generally does not perfect its security interest in that collateral. Accordingly, if the customer were to default in the repayment of the loan, the Company may not be able to recover the outstanding loan balance by resorting to the sale of collateral.

Insurance-related Operations. In certain states, the Company sells credit insurance to customers in connection with its loans as an agent for an unaffiliated insurance company. These insurance policies provide for the payment of the outstanding balance of the Company's loan upon the occurrence of an insured event. The Company earns a commission on the sale of such credit insurance, which, for most products, is directly impacted by the claims experience of the insurance company on policies sold on its behalf by the Company. In states where commissions on certain products are capped, the commission earned is not directly impacted by the claims experience.

   

World Acceptance Tax Rate Companies within the Consumer Financial Services Industry


Business Segments Q3
Revenues
(in millions $)
Q3
Income
(in millions $)
(Dec 31 2023)
%
(Profit Margin)
Total 137.75 16.66 12.1 %

Growth rates by Segment Q3
Y/Y Revenue
%
(Dec 31 2023)
Q/Q Revenue
%
Q3
Y/Y Income
%
(Dec 31 2023)
Q/Q Income
%
Total -5.97 % 0.64 % 189.37 % 3.62 %

To get more information on World Acceptance's Total segment. Select each division with the arrow.


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