Enova International (ENVA) shares plummeted 5.07% in intraday trading, despite reporting better-than-expected second-quarter results. The sharp decline comes as the company announced significant changes to its senior leadership team, including a planned CEO transition.

Enova reported Q2 revenue of $764.043 million, surpassing the IBES estimate of $756.6 million. The company's earnings per share (EPS) stood at $2.86, with a net income of $76.149 million and adjusted EBITDA of $203 million. Despite these strong financial results, investors seemed to focus on the upcoming leadership changes.

The company announced that current CEO David Fisher will transition to the role of Executive Chairman on January 1, 2026. Steve Cunningham, the current CFO, will step into the CEO position, while Scott Cornelis will assume the role of CFO. These planned changes in key senior leadership positions appear to have unsettled investors, potentially contributing to the stock's significant drop despite positive financial performance.