Jul. 23 at 11:18 AM
$FCFS FirstCash reports Q2 adjusted EPS
$2.50, consensus
$2.39
Reports Q2 revenue
$1.07B, consensus
$1.03B. CEO Rick Wessel stated, "FirstCash achieved record Q2 and year-to-date results, with revenue increases of 29% for the quarter and 28% year-to-date, driving exceptional growth in net income, EBITDA and earnings per share. Pawn demand remains extremely robust, with consolidated pawn receivables up 63% in total and 22% on a same-store basis over the prior year. We are again raising consolidated full year pawn revenue guidance given our Q2 results and continuing demand for pawn products and our deep-value retail sales model.
The company expects to complete its acquisition of Ramsdens Holdings by the end of 2026, subject to the approval of Ramsdens' shareholders, receipt of the required anti-trust and regulatory approvals and satisfaction of other closing conditions. Ramsdens is a leading operator of pawn stores in the U.K. with 174 locations that will expand FirstCash's geographic footprint in the U.K. to more than 450 locations. We also expect to see additional 2026 store expansion opportunities across each of our major geographic markets through acquisitions and new store openings. Additionally, during Q2, FirstCash successfully completed a
$750M bond offering and used the proceeds to pay down a significant portion of the revolving credit facility and to provide additional long-term funding capacity for further expansion of pawn operations and shareholder returns."
