FirstCash reports Q1 EPS $1.87, consensus $1.74

Reports Q1 revenue $836.42M, consensus $835.61M. CEO Rick Wessel stated, “FirstCash (FCFS) posted record Q1 results, driven by the continued revenue and earnings growth from core pawn operations coupled with strong operating margins in the AFF POS payment solutions segment. Resulting Q1 net income grew 36% on a GAAP basis and 32% on an adjusted basis. Demand for pawn loans was robust during the quarter in both the U.S. and Latin America, with ending same-store pawn receivables increasing 13% in the U.S. and 14% in Latin America versus last year. This marked seven consecutive quarters of double-digit same-store receivable growth in the U.S. segment which drove a 17% increase in earnings from the company’s largest operating segment…Strong cash flows for Q1 provided funding for the addition of 12 pawn locations, further purchases of store real estate and $60M of stock repurchases in addition to the ongoing quarterly cash dividend. These investments are expected to deliver further earnings accretion in 2025 and beyond.”