Q2 2026 Enova International Inc Earnings Call Transcript
Key Points
- Enova International Inc (ENVA) reported strong originations growth, with consolidated originations increasing 27% year-over-year to nearly $2.3 billion.
- The company achieved an 11th consecutive quarter of consolidated year-over-year originations growth of 20% or more.
- Revenue growth accelerated, with a 22% year-over-year increase to $929 million, driven by strong portfolio growth.
- Adjusted EPS grew 33% from the second quarter of 2025, marking the eighth consecutive quarter of year-over-year adjusted EPS growth of 30% or more.
- The company is well-positioned for future growth with its planned combination with Grasshopper Bank, expected to drive adjusted EPS accretion of more than 25% once synergies are fully realized.
- Total operating expenses, including marketing, increased to 35% of revenue compared to 32% in the second quarter of 2025.
- Marketing expenses rose to 22% of revenue, up from 19% in the second quarter of 2025, indicating higher costs to drive originations.
- The small business net charge-off ratio remained relatively stable but showed a slight increase compared to the previous year.
- The consumer net charge-off rate, although improved, remains relatively high at 12.8%.
- The pending acquisition of Grasshopper Bank is still under regulatory review, creating uncertainty around the timing of its completion.
Good afternoon and welcome to the Enova International second quarter 2026 earnings conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Lindsay Savarese Investor Relations Enova, please go ahead.
Thank you, operator, and good afternoon, everyone. Enova released results for the second quarter 2026, ended June 30, 2026, this afternoon after market close. If you did not receive a copy of our earnings press release, you may obtain it from the investor relations section of our website at ir.enova.com. With me on today's call are Steven Cunningham, Chief Executive Officer, and Scott Cornelis, Chief Financial Officer.
This call is being webcast, will be archived on our investor relations section of our website. Before I turn the call over to Steve, I'd like to note that today's discussion will contain forward-looking statements, and as such is subject to risks and uncertainties. Actual results may differ materially as a
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