EPS of $3.10 beat estimates of $3.07; Revenue of $287M beat estimates by 1%. Guidance for three years was maintained. Loan growth was 58%; revenue rose 24%; EPS rose 14%. Originations rose 29%. Charge offs were 8.9%, vs 8.8%. Considering the macro picture and higher rates that is good credit performance. Allowance for future losses declined slightly to 7.48%. ROE was 23.9%, up from 23.8%. GSY said it was a 'great start' to the year. While there are always concerns in a possible weakening economy, the affirmed guidance should calm investors' nerves. Once again GSY stated that the new interest rate rules may actually help it as a larger player.
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