Enova International, Inc. (NYSE:ENVA) Q1 2019 Earnings Conference Call Transcript
Apr 25, 2019 • 05:00 pm ET
Good day and welcome to the Enova International First Quarter 2019 Earnings Conference Call and Webcast. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Monica Gould, Investor Relations. Please go ahead.
Thank you, Chantal, and good afternoon, everyone. Enova released results for the first quarter of 2019, ended March 31, 2019, this afternoon after the market closed. 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 David Fisher, Chief Executive Officer, and Steve Cunningham, Chief Financial Officer. This call is being webcast and will be available on the Investor Relations section of our website.
Before I turn the call over to David, I'd like to note that today's discussion will contain forward-looking statements based on the business environment as we currently see it, and as such, does include certain risks and uncertainties. Please refer to our press release and our SEC filings for more information on the specific risk factors that could cause our actual results to differ materially from the projections described in today's discussion. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events. In addition to US GAAP reporting, we report certain financial measures that do not conform to generally accepted accounting principles. We believe these non-GAAP measures enhance the understanding of our performance. Reconciliations between these GAAP and non-GAAP measures are included in the tables found in today's press release. As noted in our earnings press release, we have posted supplemental financial information on the IR portion of our website.
And with that, I'd like to turn the call over to David.
David A. Fisher
Good afternoon, everyone, thanks for joining our call today. I'm going to start by giving a brief overview of the first quarter, and then I'll update you on our strategy. After that, I'll turn the call over to Steve Cunningham, our CFO, who will discuss our financial results and guidance in more detail. We kicked off the year with a strong first quarter. Top line results were in line with our guidance driven by demand consistent with typical Q1 seasonality.
In the quarter, we also experienced good credit performance and very effective and efficient marketing. This enabled us to deliver solid profitability that exceeded the top end of our guidance. First quarter revenue of $293 million increased 15% over last year, primarily driven by growth in our US businesses. And first quarter adjusted EBITDA was a record $75 million, an increase of 10% over last year, while adjusted EPS increased 14% to $1.16. These results reflect the strong credit quality I just mentioned as well as our continued, consistent execution and solid operating leverage inherent in our online model. During the quarter, loans to new customers represented