Enova International Q4'20 adjusted earnings jump YOY

Chicago-based digital lender Enova International Inc. reported fourth-quarter adjusted earnings of $85.0 million, or $2.39 per share, compared to $31.3 million, or 92 cents per share, in the year-ago period.

The S&P Capital IQ normalized EPS estimate for the latest quarter was $1.23.

Net income from continuing operations was $230.7 million in the fourth quarter, or $6.47 per share, compared to $29.5 million, or 87 cents per share, in the year-ago quarter.

Adjusted earnings for the quarter included a $164 million reduction related to a gain on the acquisition of digital lender On Deck.

The company posted total revenue of $263.9 million in the fourth quarter of 2020, a 24% decrease from $345.3 million in the fourth quarter of 2019.

Fourth-quarter charge-offs net of recoveries were 4.7% of average loan and finance receivable balance, from 15.6% in the fourth quarter of 2019.

The company did not provide its outlook for the first quarter of 2021, citing uncertainties related to COVID-19 resurgences, changes in governmental restrictions, potential economic stimulus, employment stabilization and business reopenings.

For full year 2020, Enova International reported adjusted earnings of $234.7 million, or $7.26 per share, compared to $140.3 million, or $4.08 per share, a year ago.

The S&P Capital IQ normalized EPS estimate for full year 2020 was $6.08.

Net income from continuing operations was $378.1 million in 2020, or $11.71 per share, compared to $128.0 million, or $3.72 per share, in the year ended 2019.