FirstCash Updates 2018 Earnings Guidance To Upper Half Of Guidance Range

(RTTNews) - FirstCash, Inc. (FCFS) announced the company updated fiscal 2018 guidance for adjusted earnings per share to be in a range of $3.45 to $3.55, increasing the estimate to the upper half of its previous guidance range of $3.35 to $3.55 per share. The 2018 guidance represents adjusted year-over-year earnings per share growth to be in a range of 26% to 30% compared to 2017 adjusted diluted earnings per share of $2.74.

The Board declared a $0.25 per share quarterly cash dividend, an increase of 14% compared to the previous quarterly dividend of $0.22 per share. The Board also authorized an additional $100 million for future share repurchases, which combined with the $60 million remaining on the current authorization, provides $160 million now authorized for future share repurchases.

Third-quarter adjusted earnings per share were $0.81, increased 33% over the prior year.