Business
FirstCash Reports Record Fourth Quarter and Full-Year Earnings Results; Declares Quarterly Dividend and Announces New Share Buyback Plan; Issues 2020 Earnings Outlook
FORT WORTH, Texas, Jan. 29, 2020 (GLOBE NEWSWIRE) -- FirstCash, Inc. (the “Company”) (Nasdaq: FCFS), the leading international operator of over 2,600 retail
About this update from Firstcash Holdings, Inc.
[{"type":"text","content":"FORT WORTH, Texas, Jan. 29, 2020 (GLOBE NEWSWIRE) -- FirstCash, Inc. (the “Company”) (Nasdaq: FCFS), the leading international operator of over 2,600 retail pawn stores in the U.S. and Latin America, today announced operating results for the fourth quarter and full-year ended December 31, 2019. In addition, the Board of Directors declared a $0.27 per share quarterly cash dividend to be paid in February 2020 and announced a new $100 million share repurchase authorization. The Company also initiated earnings guidance for 2020.\n Mr. Rick Wessel, chief executive officer, stated, “FirstCash completed another successful year, posting record fourth quarter and full-year 2019 revenue and net income results, highlighted by strong earnings growth from our core pawn operations. We also accelerated organic store growth in 2019 with a record 89 new store openings in Latin America, combined with acquisitions of 190 additional locations, which positions us for further revenue and earnings growth in 2020. The Company’s robust balance sheet and cash flows continue to support both the long-term expansion strategy and additional shareholder returns, including dividends and further share buyback programs.” This release contains adjusted earnings measures, which exclude, among other things, merger and other acquisition expenses, certain non-cash foreign currency exchange gains and losses and non-recurring consumer lending wind-down costs, 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 2019 2018 2019 2018Revenue $498,362 $481,208 $498,362 $481,208 Net income $54,154 $48,075 $53,836 $49,201 Diluted earnings per share $1.27 $1.09 $1.26 $1.12 EBITDA (non-GAAP measure) $90,292 $81,404 $89,823 $84,987 Weighted-average diluted shares 42,760 43,936 42,760 43,936 Twelve Months Ended December 31, As Reported (GAAP) Adjusted (Non-GAAP)In thousands, except per share amounts 2019 2018 2019 2018Revenue $1,864,439 $1,780,858 $1,864,439 $1,780,858 Net income $164,618 $153,206 $167,900 $158,290 Diluted earnings per share $3.81 $3.41 $3.89 $3.53 EBITDA (non-GAAP measure) $299,495 $274,999 $303,782 $284,156 Weighted-average diluted sh...