Earnings AssessmentNo surprise after the previous post. GLTA
PRL raised its dividend, again, this time by 8%. EPS was 45c, beating estimates of 35c; Revenue of $106.7M beat estimates of $102M. Revenue rose 49%. EBITDA rose 67% to $30.4M. Net income rose 95% (adjusted income +82%). EPS rose 80%. ROE was 38% vs 26%. These are very big growth numbers for a stock trading at 11X earnings. Loans increased 41%. PRL says it 'has never been stronger'. Most metrics were at record levels. The number of new customers hit a record, but the provision for loan losses actually fell slightly. We would not expect this level of high growth to be sustainable long term, but it is hard to fault these results and things look good here. (5iResearch)