Every material Form 8-K World Acceptance has filed with the SEC since June 13, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
World Acceptance Corporation reported fiscal 2027 second quarter results for the three months ended September 30, 2026, swinging to net income of $8.8 million, or $1.92 per diluted share, from a net loss of $1.7 million a year earlier. Total revenues rose 3.2% to $139.2 million, and the provision for credit losses fell to $46.0 million, while gross loans were roughly flat year over year at $1.319 billion.
Q2 net income of $8.8 million, or $1.92 per diluted share, versus a net loss of $1.7 million, or $0.33 per diluted share, a year earlier
Total revenues increased 3.2% to $139.2 million; net charge-offs rose to 17.6% of average net loans on an annualized basis from 17.1%
Company repurchased 133,199 shares for approximately $25.0 million in the quarter; about $25.0 million remained under the current repurchase program as of September 30, 2026
Six-month results included $4.8 million in expense related to the CEO transition; adjusted net income was $18.5 million, or $4.05 per diluted share
World Acceptance Corporation appointed John L. Calmes Jr., its executive vice president, chief financial and strategy officer and treasurer, as president and chief executive officer effective September 21, 2026. The filing sets his employment terms, including a $600,000 base salary and a guaranteed $300,000 bonus for fiscal 2027, and designates Scott McIntyre as principal financial officer for SEC reporting. The company said business through two and a half months of the second fiscal quarter is producing results similar to the first quarter.
Calmes succeeds the prior leadership effective September 21, 2026; he joined the company in December 2013 and has served as CFO and Treasurer since then, with the title of executive vice president since October 2018.
Employment agreement: $600,000 base salary, annual bonus opportunity up to 100% of base salary, guaranteed $300,000 bonus for fiscal 2027, and an additional long-term equity grant valued at $500,000.
Scott McIntyre, senior vice president of accounting, is designated principal financial officer for SEC reporting effective September 21, 2026, with no change to his compensation.
J. Tobin Turner, executive vice president and chief operating officer, is replaced as principal executive officer for SEC reporting purposes.
World Acceptance reported fiscal 2027 first-quarter results for the period ended June 30, 2026. Net income rose to $6.1 million, or $1.33 per diluted share, from $1.6 million, or $0.30, a year earlier, after a $4.6 million CEO transition expense, and revenue grew 4.8% to $139.2 million.
Total revenues rose 4.8% to $139.2 million from $132.8 million a year earlier.
Provision for credit losses fell to $43.8 million from $50.5 million; new customer loan volume fell 40.1%.
Adjusted net income, which excludes the after-tax CEO transition expense, was $9.7 million, or $2.12 per diluted share.
Debt outstanding was $572.8 million at June 30, 2026; the company repurchased $2.2 million of stock in the quarter.
World Acceptance Corporation entered into an accordion increase under its revolving credit agreement on June 29, 2026, adding a $15.0 million commitment from Investar Bank, National Association. Aggregate lender commitments rose from $640.0 million to $655.0 million, giving the company more borrowing capacity under a routine financing arrangement.
Accordion increase of $15.0 million from Investar Bank, National Association, dated June 29, 2026
Aggregate commitments under the revolving credit agreement rose from $640.0 million to $655.0 million
Company agreed to pay an upfront fee of 0.15% of the Increasing Lender's commitment and issued a $15.0 million revolving credit note
World Acceptance said interim President and CEO Janet L. Matricciani's role ended June 3, 2026, and that the separation was not due to any disagreement with the company. Executive VP and COO J. Tobin Turner was designated principal executive officer for SEC reporting purposes, and the board is continuing its search for a permanent CEO.
Janet L. Matricciani's interim CEO role ended effective June 3, 2026; her severance is conditioned on signing a separation agreement and general release
Severance includes continued base salary of $38,461.54 every two weeks through April 12, 2027, and a lump sum equal to COBRA premiums through that date
J. Tobin Turner, 51, was designated principal executive officer effective June 3, 2026, with no change to his compensation
The board is continuing its search for a permanent successor
On May 22, 2026, World Acceptance entered into a Consent and Limited Modification with Bank of Montreal, as administrative agent, and the Required Lenders under its July 22, 2025 revolving credit agreement. The modification temporarily lowers the minimum fixed charge ratio for three quarters, and the original 2.25 to 1.0 requirement returns for the quarter ending December 31, 2026. The filing does not state the reason for the modification.
Modified minimum ratio: 2.20 to 1.0 for the quarter ending March 31, 2026; 2.10 to 1.0 for June 30, 2026; and 2.15 to 1.0 for September 30, 2026
Original requirement of not less than 2.25 to 1.0 resumes for the quarter ending December 31, 2026
Agreement dated May 22, 2026, with Bank of Montreal as administrative agent and collateral agent
All other terms of the credit agreement remain in full force
World Acceptance Corporation (WRLD) reported fourth-quarter fiscal 2026 results for the quarter ended March 31, 2026. Revenue rose 7.4% and gross loans grew 4.4% year over year, but net income fell to $36.5 million from $44.3 million as credit-loss provisions and general and administrative expenses increased.
Total revenues rose 7.4% to $177.6 million from $165.3 million a year earlier.
Net income was $36.5 million, or $7.70 per diluted share, versus $44.3 million, or $8.13 per diluted share, in the prior-year quarter.
The provision for credit losses rose to $36.8 million from $33.0 million, and general and administrative expenses rose 23.6% to $81.5 million.
The company repurchased 282,607 shares for approximately $37.8 million in the quarter and had $12.2 million of remaining share repurchase capacity as of March 31, 2026.
World Acceptance Corporation said President and CEO R. Chad Prashad resigned from his executive and board roles, effective April 10, 2026, to pursue other opportunities. The board appointed former CEO Janet L. Matricciani as interim president and CEO effective April 13, 2026, while it searches for a permanent successor. The leadership change is unplanned and the permanent CEO has not been named.
Prashad resigned as president, CEO and director effective April 10, 2026, to pursue other opportunities
Janet L. Matricciani named interim president and CEO effective April 13, 2026; the board has begun a search for a permanent CEO
Prashad's separation includes $1,260,000 in severance payable over 24 months and accelerated vesting of time-based equity awards
Matricciani's employment agreement provides a $83,333 monthly salary for 12 months and a $350,000 signing bonus
World Acceptance Corporation appointed J. Tobin Turner, 51, as Executive Vice President and Chief Operating Officer, effective February 13, 2026 according to the 8-K, while the press release says February 17, 2026. He previously served as Senior Vice President of Marketing and Analytics (press release: Strategy and Analytics) since 2023, and he will oversee the branch network and day-to-day operations.
Base salary of $450,000 plus eligibility for the Stock Incentive Plan
Severance equal to $450,000 payable over 24 months if terminated without cause or for good reason
Grants of 6,000 time-based restricted shares and 2,500 performance-based restricted shares tied to trailing earnings per share from June 1, 2025 to March 31, 2027
World Acceptance Corporation reported a net loss of $0.9 million, or $0.19 per diluted share, for its fiscal third quarter ended December 31, 2025, compared with net income of $13.4 million, or $2.45 per diluted share, a year earlier. Total revenues rose 1.9% to $141.3 million, but the provision for credit losses increased to $51.4 million, and the company said new customer growth required a substantial rebuild of its loan loss allowance.
Q3 net loss of $0.9 million ($0.19 per diluted share) versus net income of $13.4 million ($2.45 per share) a year earlier
Total revenues rose 1.9% to $141.3 million; provision for credit losses rose $7.3 million to $51.4 million
Gross loans rose 1.5% year over year to $1.40 billion; net charge-offs rose to 18.7% of average net loans on an annualized basis
Company expects a 3-5% reduction in headcount and lower charge-offs as new customers gain tenure
World Acceptance Corporation said Executive Vice President and Chief Branch Operations Officer D. Clinton Dyer will retire effective March 31, 2026, after 30 years with the company. Senior Vice President of Strategy and Analytics J. Tobin Turner will take over branch operations responsibilities during the transition, and the company approved severance-type payments tied to a termination without cause under Dyer's employment agreement.
Retirement effective March 31, 2026; Dyer joined after 30 years of service
Severance-type package includes $550,000 paid over 24 months plus 18 months of COBRA premiums and full vesting of time-based equity awards
J. Tobin Turner, Senior Vice President of Strategy and Analytics, leads branch operations as interim head during the transition
World Acceptance reported a fiscal 2026 second-quarter net loss of $1.9 million, or $0.38 per diluted share, compared with net income of $22.1 million, or $3.99 per share, a year earlier. Total revenues rose 2.3% to $134.5 million, and gross loans grew 1.5% year over year, the first annual growth since September 2022. The loss reflected a $24.0 million rise in share-based compensation, $3.7 million in early bond redemption expenses, and higher credit loss provisions, so shareholders face lower reported profit this quarter.
Net loss of $1.9 million, or $0.38 per diluted share, versus net income of $22.1 million, or $3.99 per share, in the prior-year quarter
Total revenues increased 2.3% to $134.5 million; gross loans outstanding reached $1.32 billion at September 30, 2025
Early redemption of remaining bonds resulted in $3.7 million of expenses; general and administrative expenses rose 55.3% to $72.0 million
Repurchased 385,867 shares, or 7.4% of outstanding stock, for about $66.6 million during the quarter
World Acceptance Corporation and its subsidiary WFC Receivables I, LLC entered into a Credit Agreement dated September 29, 2025, providing a revolving $175 million warehouse facility secured by consumer loan receivables originated by certain company subsidiaries. The facility gives the company a funding source backed by its consumer loans, with a revolving period ending September 29, 2027, and includes servicing covenants and default terms that could lead to servicer replacement or accelerated repayment.
Facility size is $175 million, with a total advance rate of 75.00%, or 70.00% during a Level I Trigger Event.
Loans bear interest at Adjusted Term SOFR plus a 3.00% margin, with a 1.00% floor and a 0.50% unused commitment fee rate.
The revolving period runs to September 29, 2027; monthly payments begin November 15, 2025.
Atlas Securitized Products Administration, L.P. serves as administrative agent for the lenders.
At its August 20, 2025 annual meeting, World Acceptance shareholders approved the 2025 Stock Incentive Plan, which allows up to 400,000 shares to be issued as stock options, stock appreciation rights, restricted stock and restricted stock units. Shareholders also elected seven directors, approved executive compensation on an advisory basis, and ratified RSM US LLP as the independent auditor. The plan received 3,694,122 votes for and 827,657 votes against.
The 2025 Stock Incentive Plan was approved on August 20, 2025, with awards permitted until August 19, 2035.
The plan is capped at 400,000 shares, subject to adjustments set out in the plan.
Plan vote: 3,694,122 for, 827,657 against, 24,706 abstain, 390,740 broker non-votes.
RSM US LLP was ratified as auditor for the fiscal year ending March 31, 2026, with 4,904,334 votes for.
World Acceptance reported first-quarter fiscal 2026 results with total revenue up 2.3% to $132.5 million, while net income fell to $1.3 million from $9.9 million and diluted EPS fell to $0.25 from $1.79. The company also replaced its prior credit facility with a three-year, $640.0 million senior secured revolver, approved a $100.0 million share repurchase program, and called its 7.000% notes due 2026 for redemption.
Net income was $1.3 million versus $9.9 million a year earlier; diluted EPS was $0.25 versus $1.79.
Provision for credit losses rose to $50.5 million from $45.4 million; net charge-offs were 19.4% of average net loans, up from 16.4%.
New $640.0 million revolving credit agreement with Bank of Montreal dated July 22, 2025, replacing the prior $730.0 million facility.
Board approved a repurchase program of up to $100.0 million, and the 7.000% notes (aggregate principal $168.3 million) will be redeemed on August 29, 2025 at 101.750%.
World Acceptance's Compensation and Stock Option Committee approved restricted stock and performance share awards on June 10, 2025, under its 2017 Stock Incentive Plan, covering employees including named executive officers. Performance shares vest only if trailing earnings per share reach a target of $18.40, and restricted stock vests in two equal annual installments starting December 1, 2026, so the grants tie executive pay to future results and continued employment.
Performance shares vest based on trailing four-quarter earnings per share of $18.40, measured each quarter starting with the quarter ending September 30, 2025.
The performance period runs from July 1, 2025 to March 31, 2027, and vesting requires continued employment through the end of that period.
Restricted stock vests in two equal annual installments beginning December 1, 2026.
R. Chad Prashad received 8,000 performance shares and 28,000 restricted shares; the filing lists grants for six other named executive officers.
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