Business
FirstCash Reports Strong Third Quarter Results; Announces 18-Store U.S. Pawn Acquisition; Declares $0.30 Quarterly Cash Dividend
FORT WORTH, Texas, Oct. 20, 2021 (GLOBE NEWSWIRE) -- FirstCash, Inc. (the “Company”) (Nasdaq: FCFS), the leading international operator of over 2,800 retail
About this update from Firstcash Holdings, Inc.
[{"type":"text","content":"FORT WORTH, Texas, Oct. 20, 2021 (GLOBE NEWSWIRE) -- FirstCash, Inc. (the “Company”) (Nasdaq: FCFS), the leading international operator of over 2,800 retail pawn stores in the U.S. and Latin America, today announced operating results for the three and nine month periods ended September 30, 2021, and the completion of a U.S. pawn acquisition. In addition, the Board of Directors declared a $0.30 per share quarterly cash dividend to be paid in November 2021. Mr. Rick Wessel, chief executive officer, stated, “Revenue and earnings momentum continued to accelerate in the third quarter, driven by 29% growth in pawn receivables over this time last year and the continued strength of retail operations in both the U.S. and Latin America. Resulting store-level profit before taxes increased 37% in the third quarter compared to last year. We are well positioned entering the fourth quarter, with expectations of further growth in pawn demand coupled with fresh, well-stocked merchandise inventories to support holiday retail sales. “FirstCash also continues to invest in growth opportunities and provide shareholder returns utilizing its strong balance sheet and cash flows. We are pleased to announce an 18-store acquisition of U.S. pawn stores in the Gulf Coast region which gives us a total of 96 store additions in the U.S. and Latin America this year. In addition to the quarterly cash dividends paid to our shareholders, we have repurchased 688,000 shares of stock year-to-date.” This release contains adjusted earnings measures, which exclude certain extraordinary 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 September 30, As Reported (GAAP) Adjusted (Non-GAAP)In thousands, except per share amounts 2021 2020 2021 2020Revenue $399,674 $359,890 $399,674 $359,890 Net income $33,396 $15,062 $34,041 $24,453 Diluted earnings per share $0.82 $0.36 $0.84 $0.59 EBITDA (non-GAAP measure) $63,331 $34,174 $64,217 $46,333 Weighted-average diluted shares 40,516 41,536 40,516 41,536 Nine Months Ended September 30, As Reported (GAAP) Adjusted (Non-GAAP)In thousands, except per share amounts 2021 2020 2021 2020Revenue $1,197,191 $1,239,126 $1,197,191 $1,239,126 Net income $95,538 $73,853 $98,007...