Welcome to our dedicated page for CURO Group Holdings news (Ticker: CURO), a resource for investors and traders seeking the latest updates and insights on CURO Group Holdings stock.
CURO Group Holdings Corp. (NYSE: CURO) is a leading provider of financial solutions, offering a wide range of services to meet the evolving needs of consumers. Founded in 1997 in Riverside, California, by three childhood friends from Wichita, Kansas, CURO has grown from a single storefront to a multi-brand powerhouse with a significant online presence.
CURO operates under various well-known brands including Speedy Cash, Rapid Cash, Cash Money, LendDirect, Avío Credit, Opt+, Juo Loans, and WageDayAdvance. These brands offer a variety of financial products such as short-term loans, installment loans, lines of credit, and other financial services. The company prides itself on providing financial freedom to the underbanked, a segment of the market that often lacks access to traditional banking services.
With over 20 years of operational experience, CURO has developed a robust financial technology platform that ensures seamless and efficient transaction processing. The company’s unique, fully integrated system allows for end-to-end ownership of every financial transaction, ensuring high-quality service and customer satisfaction.
Recent achievements include the expansion of online services, strategic partnerships to enhance service offerings, and continuous improvements in their technology infrastructure to better serve their customers. CURO’s financial condition remains strong, with a focus on sustainable growth and profitability. The company is committed to innovation and adapts quickly to changes in the financial landscape, ensuring they remain a trusted partner for their customers' financial needs.
CURO Group Holdings Corp. (NYSE: CURO) announced it has upsized its offering of 7.500% senior secured notes from $700 million to $750 million. The notes, due in 2028, will bear interest payable semi-annually. The offering is expected to close on July 30, 2021, subject to customary conditions. Proceeds will be used to redeem existing 8.250% notes due 2025 and for general corporate purposes. The notes will not be registered under the Securities Act and will be offered only through a private placement.
CURO Group Holdings Corp. (NYSE: CURO) announced plans to offer $700 million in senior secured notes due 2028 in a private placement to qualified institutional buyers, subject to market conditions. The proceeds will be used to redeem existing 8.250% senior secured notes due 2025 and for associated expenses. The notes will be secured by liens on the Company’s assets, backed by certain domestic subsidiaries. This offering is not registered under the Securities Act. Forward-looking statements included in the release highlight potential market risks impacting completion.
CURO Group Holdings Corp. (NYSE: CURO) has updated its financial outlook for Q2 2021, projecting revenues of approximately $187 million and an Adjusted EBITDA of $43 million to $47 million, with earnings per share expected between $0.25 and $0.30. The company also announced the closure of 49 U.S. stores, representing nearly 25% of its U.S. locations, to reduce operational costs by $20 million. This decision was made in response to evolving consumer behaviors and COVID-19 impacts. A further 30 stores are set to close, incurring total charges of $5.7 million.
CURO Group Holdings Corp. (NYSE: CURO) has completed a business combination with Katapult Holding, Inc. and FinServ Acquisition Corp., resulting in CURO receiving $146.9 million in cash and retaining a 22.2% stake in Katapult. The total valuation of CURO's cash and stock consideration stands at $464.7 million. CEO Don Gayhardt will remain on Katapult's board, indicating CURO's commitment to the growing e-commerce financing sector. Don Gayhardt highlighted a successful return on CURO's $27.5 million investment in Katapult.
CURO Group Holdings Corp. (NYSE: CURO) announced a contribution of over $650,000 to provide meals for healthcare workers during the COVID-19 pandemic. As the largest sponsor of Frontline Foods in the U.S., CURO launched the Wichita chapter, delivering over 10,000 meals. In Canada, the Cash Money brand's Meals 2 Frontline initiative has provided over 22,000 meals across 70+ facilities in Ontario. CURO’s efforts to support frontline workers will continue throughout 2021, highlighting their commitment to community service.
Flexiti Financial Inc. announced a significant partnership with LFL Group, Canada's largest home furnishings retailer, to provide point-of-sale financing across all LFL retail banners. This exclusive 10-year agreement, effective from July 2021, allows Flexiti to offer its omni-channel financing platform, making the FlexitiCard available in over 300 stores. With a projected financing of over $800 million in annual sales, the collaboration aims to enhance customer shopping experiences online and in-store with flexible 0% interest financing options.
CURO Group Holdings Corp. (NYSE: CURO) announced a 10-year exclusive point-of-sale financing agreement between its subsidiary Flexiti and LFL Group (TSX: LNF), Canada’s largest home furnishings retailer. The agreement, effective July 1, 2021, is expected to generate over C$800 million in annual financed sales, covering all LFL retail banners and online sales. Flexiti, which has a history with LFL since 2018, aims to enhance its position as the largest POS financing provider in Canada, indicating strong growth prospects for CURO in the Canadian market.
CURO Group Holdings Corp. (NYSE: CURO) announced participation in two major upcoming conferences. CEO Don Gayhardt will take part in the William Blair 41st Annual Growth Stock Conference on June 3, 2021, at 4:20 PM ET and the Jefferies Virtual Consumer Conference on June 23, 2021, at 8:00 AM ET. The company will host one-on-one meetings for institutional investors. Live webcasts of the presentations will be available on the CURO Investor Relations website for 30 days after each event. CURO is a leader in consumer finance for the non-prime sector.
CURO Group Holdings Corp. (CURO) reported financial results for Q1 2021, showing revenue of $196.6 million, a 30% decline year-over-year, primarily due to COVID-19 impacts. Net income fell 29.2% to $25.7 million, with diluted EPS at $0.59, down 31.4% from the prior year. Canada Direct Lending segment showed growth, with loans rising 24.4%, while Flexiti acquisition is expected to enhance future revenue. The company announced a 100% increase in quarterly dividends to $0.11 per share. The closing of the Katapult and FinServ merger is anticipated in Q2 2021.
CURO Group Holdings Corp. (NYSE: CURO) announced its first quarter 2021 financial results will be released after market close on May 3, 2021. A conference call will follow on May 4, 2021, at 8:15 a.m. ET to discuss the results. Investors can access the call via the CURO Investors website, with a replay available until May 11, 2021. CURO, a leader in consumer finance, serves non-prime and prime consumers across the U.S. and Canada, providing an array of credit products through a tech-enabled, omni-channel approach.
FAQ
What is the market cap of CURO Group Holdings (CURO)?
What services does CURO Group Holdings Corp. provide?
When was CURO Group Holdings Corp. founded?
What are some of the brands under CURO Group Holdings Corp.?
What is CURO’s primary customer base?
How has CURO expanded its services over the years?
What makes CURO’s technology platform unique?
How does CURO ensure customer satisfaction?
What recent achievements has CURO attained?
Where is CURO Group Holdings Corp. headquartered?
What is CURO’s approach to growth and profitability?
