Consumer Portfolio Services, Inc. Reveals Financial Data and Operational Insights in Recent 8-K Filing

Consumer Portfolio Services, Inc. (NASDAQ: CPSS) has recently disclosed pertinent operational and financial information in its latest 8-K filing with the United States Securities and Exchange Commission. The filing, dated November 8, 2024, provides a glimpse into the company’s recent activities and strategic positioning.

Within the filing, the company, headquartered in Las Vegas, NV, highlighted its focus on automobile contract purchases and servicing, specializing in indirect financing for sub-prime customers through licensed motor vehicle dealers. With a managed portfolio of approximately $3.5 billion and a history dating back to its establishment in 1991, Consumer Portfolio Services maintains a solid presence in the market.

The company’s leadership comprises experienced industry veterans, including Charles “Brad” Bradley as CEO and Chairman of the Board, Mike Lavin as President, COO, and CLO, and Danny Bharwani as CFO. This cohesive management team boasts an average tenure of 24 years at CPS, symbolizing stability and deep-rooted industry insight.

Consumer Portfolio Services showcased its advanced risk management and decision-making capabilities through proprietary Machine Learning (ML) and Artificial Intelligence (AI) methodologies. These include various scorecards such as Repo-Skip Scorecard and Applicant Scorecard, enhancing the quality of loan decisions and portfolio management.

In terms of financial data, the company outlined its market positioning in a highly regulated yet lucrative industry. The filing revealed key financial metrics and operational performance indicators, shedding light on its asset quality, interest income, provision for credit losses, and shareholder value.

Furthermore, the exhibit attached to the filing, labeled as Exhibit 99.1, provides a detailed overview of the company’s programs, customer profiles, portfolio performance, economic models, and investment outlook. Additionally, the exhibit offers insights into originations, servicing, recovery rates, and demographic data related to CPS customers.

It is essential to note that the information furnished in this report, including the attached exhibit, is aimed at providing transparency and key insights to stakeholders and interested parties. The data shared in the filing does not constitute a filing for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

For further information and detailed financial statements, interested individuals are advised to access the complete filing on the company’s website or through the U.S. Securities and Exchange Commission’s EDGAR search page, using CPS’s ticker symbol “CPSS.”

Investors and stakeholders are encouraged to review the company’s public reports, particularly the risk factors outlined in CPS’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, available on the SEC’s website for a comprehensive understanding of the company’s operations and associated risks.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Consumer Portfolio Services’s 8K filing here.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc operates as a specialty finance company in the United States. It is involved in the purchase and service of retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans.