CPSS earnings analysis
What we found in CPSS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Consumer Portfolio Services reported Q2 revenue of $121.389 million and diluted EPS of $0.27, representing revenue growth of 10.6% year over year and higher EPS than the $0.20 reported in Q2 2025. The quarter’s operating momentum was positive, but the filing highlights substantial leverage: approximately $4,008.3 million of debt outstanding, including a $355.0 million increase in warehouse-line debt since December 31, 2025. No quantitative forward guidance was provided.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Share repurchases continued
- The company repurchased 231,134 shares during the quarter at an average price of $9.68, with $3.642 million remaining under the repurchase authorization at June 30, 2026.
- Continued securitization activity
- The company completed a $50 million securitization of residual interests in March 2026; $168.8 million of residual-interest debt remained outstanding at June 30, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Substantial indebtedness
- Total debt was approximately $4,008.3 million at June 30, 2026, including $3,131.1 million of securitization trust debt and $679.9 million of warehouse-line debt.
- Rapid growth in funding debt
- Since December 31, 2025, securitization trust debt increased by $144.5 million and warehouse-line debt increased by $355.0 million, net of deferred financing costs, increasing refinancing and liquidity exposure.
- Debt-service dependence
- The company had $28.5 million of subordinated renewable notes outstanding at June 30, 2026, compared with $29.0 million at December 31, 2025; management cautioned that failure to generate sufficient operating profits could impair required debt payments.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.27
What they said about what is next.
No quantitative revenue or EPS guidance was provided in the filing; outlook was deferred to the earnings release/call.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 8, 2026
- CPS reported robust Q1 2026 results with revenues of $112.3 million, marking a 5.1% increase from $106.9 million in the prior year. However, diluted EPS was $0.24, below expectations of $0.3, showcasing challenges amid…
- 10-K · March 16, 2026
- Consumer Portfolio Services (CPSS) describes a focused sub‑prime auto finance strategy: buy and service dealer-originated retail automobile contracts, finance them primarily through term securitizations and short‑term…
- 10-Q · November 10, 2025
- Consumer Portfolio Services reported Q3 2025 total revenues of $108,421 thousand (up $7,841k or +7.8% vs. Q3 2024) and GAAP diluted EPS of $0.20 (unchanged vs. prior-year quarter). Operating profitability remained…
- 10-Q · November 7, 2024
- Consumer Portfolio Services reported Q3 revenue of $100.58M and diluted EPS of $0.20. Revenue increased versus the year-ago quarter but income before tax and net income declined materially; operating margin compressed…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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