FirstCash Q1 Profit Tops Estimates - Quick Facts

(RTTNews) - FirstCash, Inc. (FCFS) reported first-quarter earnings per share of $0.96 compared to $0.97, prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.89, for the quarter. Analysts' estimates typically exclude special items.

First-quarter adjusted revenue declined to $466.49 million from $467.60 million, last year. Analysts expected revenue of $465.28 million, for the quarter.

Due to the uncertainty around COVID-19 and the associated volatility of the Mexican peso, the company has decided to withdraw its previous earnings guidance.

Rick Wessel, CEO, said: "As of April 21, we have over $80 million of cash on hand and $200 million of available borrowing capacity under our unsecured lines of credit. Additional working capital also includes over $500 million in fully collateralized, short-term pawn loans and highly liquid, fast-turning inventories."

The Board of Directors declared a $0.27 per share second quarter cash dividend on common shares outstanding, which will be paid on May 29, 2020 to stockholders of record as of May 15, 2020. This represents an annual cash dividend of $1.08 per share.