Business
FirstCash Reports Record Fourth Quarter and Full-Year Earnings Results; Adds 45 Pawn Stores in the Fourth Quarter through Acquisitions and Store Openings; Repurchases 2.2 Million Shares in 2022 and Declares Quarterly Cash Dividend
FORT WORTH, Texas, Feb. 02, 2023 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), the leading international
About this update from Firstcash Holdings, Inc.
[{"type":"text","content":"FORT WORTH, Texas, Feb. 02, 2023 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), the leading international operator of retail pawn stores and a leading provider of retail point-of-sale (“POS”) payment solutions, today announced record operating results for the fourth quarter and full-year ended December 31, 2022. The Company also announced that the Board of Directors declared a quarterly cash dividend of $0.33 per share, which will be paid in February 2023. Mr. Rick Wessel, chief executive officer, stated, “Record fourth quarter revenue and earnings results capped off an outstanding 2022 for FirstCash. Pawn receivables ended the year at record levels and we continued to see strong revenue and earnings growth from the core pawn segments in both the U.S. and Latin America. Additionally, the retail POS payment solutions segment (American First Finance or AFF), continued to generate revenue and earnings growth in the fourth quarter, both year-over-year and sequentially. “FirstCash completed several significant pawn store acquisitions in the fourth quarter, adding 27 U.S. locations and one store in Latin America. In addition, 17 new stores were opened in Latin America, bringing the total store additions to 45 locations for the quarter and 76 for the year. We anticipate that these added stores will be accretive in 2023, which we expect will further drive long-term revenue and earnings growth. “Our strong balance sheet and record cash flows further supported shareholder returns in 2022 with $158 million going toward the repurchase of 2.2 million shares of stock in addition to paying $60 million in cash dividends.” This release contains adjusted financial measures, which exclude certain non-operating and/or non-cash expenses, which are non-GAAP financial measures. Please refer to the descriptions and reconciliations to GAAP of these and other non-GAAP financial measures at the end of this release. Three Months Ended December 31, As Reported (GAAP) Adjusted (Non-GAAP)In thousands, except per share amounts 2022 2021 2022 2021Revenue $749,344 $501,774 $757,203 $503,482Net income $80,066 $29,371 $76,642 $63,472Diluted earnings per share $1.72 $0.70 $1.65 $1.52EBITDA (non-GAAP measure) $147,693 $60,026 $130,731 $102,289Weighted-average diluted shares 46,523 41,720 46,523 41,720 Twelve Months Ended ...