LexinFintech Holdings Ltd (NAS:LX)
$ 3.46 0.73 (26.84%) Market Cap: 568.86 Mil Enterprise Value: 948.81 Mil PE Ratio: 5.18 PB Ratio: 0.41 GF Score: 81/100
Back to the Transcripts List

Q2 2024 Lexinfintech Holdings Ltd Earnings Call Transcript

Aug 28, 2024 / 02:00AM GMT
Release Date Price: $1.68 (-5.08%)

Key Points

Positve
  • Revenue increased by 12.3% quarter over quarter, reaching RMB3.64 billion.
  • Net profit rose by 12.4% quarter over quarter to RMB230 million.
  • The company declared a cash dividend of approximately $0.072 per ADS.
  • Funding costs reached a record low, dropping by 58 basis points compared to the first quarter.
  • The overseas business, particularly in Mexico, showed rapid growth with loan origination volume increasing by 61% and revenue growing by 113% quarter over quarter.
Negative
  • Total loan origination declined by 12% quarter over quarter.
  • The 90-days-plus delinquency rate increased to 3.7% in Q2.
  • Sales and marketing expenses increased by 12% quarter over quarter, primarily due to investments in overseas markets.
  • The macroeconomic recovery remained sluggish, with consumer confidence at historical lows.
  • Provision costs increased by 12.6% quarter over quarter due to higher risk levels in the existing loan book.
Operator

Good day, and thank you for standing by. Welcome to Lexinfintech's second quarter 2024 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I'd now like to hand the conference over to your first speaker today, Ms. Mandy Dong, Head of IR of Lexin. Please go ahead.

Mandy Dong
Lexinfintech Holding Ltd - Head of Investor Relations

Thank you, Amber. Good morning and good evening, everyone. Welcome to Lexin's second quarter 2024 earnings conference call. Our results were issued earlier today and can be found on our IR website. Joining me today are our CEO, Jay Xiao; CRO, Arvin Qiao; and CFO, James Zheng.

Before we get started, I'd like to remind you of our Safe Harbor statement in our earnings press release, which also applies to this call. During the call, we may refer to business outlooks and forward-looking statements, which are based on our current plans, estimates, and projections.

The actual results may differ materially, and we undertake no obligation to update any forward-looking

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.