Business
FirstCash Reports Record Second Quarter Earnings Results; Pawn Segment Earnings Increase 36% in U.S. and 18% in LatAm; Increases Quarterly Dividend by 10% to $0.33 per Share
FORT WORTH, Texas, July 28, 2022 (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, July 28, 2022 (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 operating results for the three and six month periods ended June 30, 2022. The Company also announced that the Board of Directors declared a quarterly cash dividend of $0.33 per share, an increase of 10% compared to the previous quarterly dividend of $0.30 per share, which will be paid in August 2022. Mr. Rick Wessel, chief executive officer, stated, “We are excited to report record second quarter results driven by especially strong revenue growth from core pawn operations as consolidated same-store pawn fees grew 20% while consolidated retail sales were up 10% on a same-store basis over the prior-year quarter. Resulting segment earnings from pawn operations increased 36% in the U.S. and 18% in Latin America versus the prior year. The recently acquired AFF operations saw continued growth in active retail merchant locations and gross transaction volumes, which contributed to solid earnings results for the retail POS payment solutions segment. “The Company’s cash flows and balance sheet continue to be strong, supporting revenue growth, $102 million in stock repurchases so far this year and the announced 10% increase in the cash dividend. We further believe the outlook for the second half of 2022 remains highly positive given July revenue trends in our pawn stores.” This release contains adjusted earnings 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 June 30, As Reported (GAAP) Adjusted (Non-GAAP)In thousands, except per share amounts 2022 2021 2022 2021Revenue$647,616 $389,578 $659,130 $389,578Net income$86,108 $28,427 $51,159 $29,038Diluted earnings per share$1.81 $0.70 $1.08 $0.71EBITDA (non-GAAP measure)$151,629 $56,786 $96,417 $57,524Weighted-average diluted shares 47,499 40,802 47,499 40,802 Six Months Ended June 30, As Reported (GAAP) Adjusted (Non-GAAP)In thousands, except per share amounts 2022 2021 2022 2021Revenue$1,307,455 $797,517 $1,33...