Welcome to our dedicated page for Consumer Port news (Ticker: CPSS), a resource for investors and traders seeking the latest updates and insights on Consumer Port stock.
Consumer Portfolio Services, Inc. (CPSS) delivers specialized auto financing solutions for subprime borrowers through nationwide dealer partnerships. This news hub provides investors and industry observers with essential updates about the company's operations and market position.
Access timely corporate announcements including quarterly earnings results, strategic initiatives, and regulatory developments. Our curated collection features press releases about contract acquisitions, securitization activities, and servicing operations that drive CPSS's business model.
Stay informed about key developments in subprime auto financing through verified updates on dealer network expansions, credit portfolio performance, and industry trends. Bookmark this page for direct access to primary source materials and objective reporting about CPSS's role in the specialty finance sector.
Consumer Portfolio Services (Nasdaq: CPSS) reported first-quarter revenues of $83.1 million, an increase of 11.7% from $74.4 million compared to the prior year. The net income for the quarter was $13.8 million, or $0.54 per diluted share, down from $21.1 million or $0.75 per diluted share last year. The pretax income was $18.4 million, compared to $29.3 million in the same quarter last year. The company purchased $415.2 million in new contracts during the quarter. However, annualized net charge-offs rose to 5.20% from 3.29% in the prior year, and delinquencies greater than 30 days increased to 9.92% compared to 8.59% a year earlier.
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