FirstCash Holdings Q1 Earnings Surge, Beat Estimates

(RTTNews) - FirstCash Holdings, Inc. (FCFS) Thursday announced an surge in first quarter earnings compared to the prior year. Revenues were slightly up from the comparable period. Adjusted earnings beat estimates, while revenues came in lower that the analysts' figures.

Quarterly earnings were $83.591 million, or $1.87 per share, compared to $61.368 million or $1.35 per share last year.

On an adjusted basis, earnings were $92.78 million or $2.07 per share, while it was $70.19 million or $1.55 per share in the previous year.

On average, analysts expected the company to earn $1.74 per share. Analysts estimates usually exclude special items.

Revenue for the quarter came in at $836.42 million from $836.37 million a year ago. Analysts were projecting $836.61 million.

Looking ahead, the company expects 2025 to remain highly positive, with year-over-year growth in income driven by the continued growth in earning asset balances coupled with store additions.

Based on origination and provisioning dynamics, second quarter net revenues are expected to decline 14 to 16 percent over last year, with full year net revenues forecast to decline in a range of 8 to 12 percent, compared to the prior year.

The increase in U.S. pawn fee growth is estimated to be in a range of 9 to 11 percent for the full year. For Latin American Pawn segment, full year pawn fee growth is now expected to increase in a range of 10 to 12 percent on a local currency and it is projected to be flat to down slightly on a U.S. dollar basis.

Pawn operations are expected to remain the primary earnings driver in 2025 and the segment income from U.S. and Latin America pawn segments is expected to be over 80% of total segment level pre-tax income. New store openings and potential acquisitions will further enhance growth.