Announcement
Enova International (NYSE: ENVA) said it has withdrawn its applications with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to acquire Grasshopper Bancorp. The withdrawal was announced by CEO Steve Cunningham, who stated that the decision was in the best interest of Enova and its shareholders and highlighted that current bank regulatory guidelines have not kept pace with the credit needs of consumers and small businesses, and that regulators lack clear standards for non‑banks seeking to become banks.
Market Reaction
Following the announcement, Enova shares fell 16% in after‑hours trading.
Financial Guidance
Enova reaffirmed its 2026 financial guidance, projecting third‑quarter revenue growth of approximately 25% and adjusted earnings‑per‑share growth of about 30% year‑over‑year. For the full year, the company continues to target revenue growth of 20% to 25% and adjusted EPS growth of 30% to 35% year‑over‑year.
Share Repurchase Program
Chief Financial Officer Scott Cornelis said Enova will accelerate its share‑repurchase activity for the remainder of 2026. As of 30 June 2026, the company had $218 million available for repurchases under its senior note covenants and $349 million available under the current Board authorization, which expires on 30 June 2027.