FirstCash announces Q3 adjusted EPS of $2.26, surpassing consensus estimate of $1.93
Reports Q3 revenue $935.58M, consensus $861.7M. CEO Rick Wessel stated, "FirstCash's Q3 operating results were outstanding, evidenced by accelerating revenue growth, strong margins and continued earnings growth in both the U.S. and Latin American pawn segments coupled with a strong partial quarter contribution from the recently acquired H&T pawn stores in the U.K. We continue to experience extremely strong pawn demand across all markets, with Q3 local currency same-store pawn receivables up 13% in the U.S., 18% in Latin America and 25% in the U.K. over last year...Driven by the strong Q3 results, we are raising full year revenue growth expectations in the U.S. and Latin America in addition to increasing the projected H&T accretion contribution. Additionally, we have a strong pipeline of expected Q4 pawn acquisitions and new store openings which will further grow revenues and our industry-leading international store base. This significant investment activity is being funded by our strong balance sheet and cash flows, which also support our recently increased dividend, $90M in year-to-date stock repurchases and a new $150M share repurchase authorization."
