World Acceptance Corporation reported net charge-offs for the third quarter ended December 31, 2022. Net charge-offs for the quarter increased $33.2 million, from $37.8 million in the third quarter of fiscal 2022 to $71.0 million in the third quarter of fiscal 2023. Net charge-offs as a percentage of average net loan receivables on an annualized basis increased from 13.8% in the third quarter of fiscal 2022 to 25.1% in the third quarter of fiscal 2023.

Net charge-offs during the quarter include recoveries of $8.4 million related to the sale of prior charge-offs.