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FCFS-News
FCFS-Events
FirstCash Q2 Revenue Reaches $1.07B, Exceeds Expectations
Reports Q2 revenue $1.07B, consensus $1.03B. CEO Rick Wessel stated, "FirstCash achieved record Q2 and year-to-date results, with revenue increases of 29% for the quarter and 28% year-to-date, driving exceptional growth in net income, EBITDA and earnings per share. Pawn demand remains extremely robust, with consolidated pawn receivables up 63% in total and 22% on a same-store basis over the prior year. We are again raising consolidated full year pawn revenue guidance given our Q2 results and continuing demand for pawn products and our deep-value retail sales model. The company expects to complete its acquisition of Ramsdens Holdings by the end of 2026, subject to the approval of Ramsdens' shareholders, receipt of the required anti-trust and regulatory approvals and satisfaction of other closing conditions. Ramsdens is a leading operator of pawn stores in the U.K. with 174 locations that will expand FirstCash's geographic footprint in the U.K. to more than 450 locations. We also expect to see additional 2026 store expansion opportunities across each of our major geographic markets through acquisitions and new store openings. Additionally, during Q2, FirstCash successfully completed a $750M bond offering and used the proceeds to pay down a significant portion of the revolving credit facility and to provide additional long-term funding capacity for further expansion of pawn operations and shareholder returns."
Company Raises 2026 Pawn Segment Revenue Outlook
The outlook for the remainder of 2026 continues to be highly positive as the company is again raising its overall expectations for year-over-year growth in consolidated pawn segment revenue. The company expects the combined U.S., Latin America and U.K. pawn segments to be over 90% of total net revenue and segment level pre-tax income for 2026. Continues to see strong results in July and expects mid-teen or better growth in pawn fees in second half and full year 2026. The company expects U.S. pawn retail merchandise sales to grow in a range of 10% to 15% in 2026 and will continue to target retail margins in a range of 42% to 43%. Expects approximately 20% growth in Latin American pawn fees on a U.S. dollar basis in the second half of 2026, retail POS payment solutions net revenue is expected to decrease in a range of 20% to 25% for the full year.
FirstCash Announces Leadership Transition, Wessel to Executive Chairman
FirstCash Holdings announced planned senior leadership transitions as part of the Company's long-term succession planning. Rick L. Wessel, current CEO and Vice-Chairman of the Board, will transition to the role of Executive Chairman, effective January 1, 2027. T. Brent Stuart, current President and COO, will become CEO and President, effective January 1, 2027. In addition, Stuart has been added to the Board of Directors, effective immediately. In conjunction with these changes, the Company anticipates entering into new three-year employment agreements in January 2027 with Wessel and Stuart along with R. Douglas Orr, the Company's Executive Vice-President and CFO. Wessel has served as CEO of FirstCash since November 2006 and as a director since November 1992. Stuart served as President and Chief Executive Officer of Cash America International at the time of its 2016 merger with FirstCash. As part of the long-term leadership succession plan, Wessel will transition to the role of Executive Chairman of the Board of Directors, effective January 1, 2027 and Daniel R. Feehan, the current Chairman of the Board of Directors, will retire from his position as Chairman and continue to serve as a member of the Board of Directors. It is anticipated that Wessel will serve as Executive Chairman through, at least, the end of 2029 pursuant to a new three-year employment agreement that the Company intends to enter into with Wessel.
FirstCash to Acquire Ramsdens for 600 Pence
FirstCash announced that it has reached agreement on the terms of a recommended cash acquisition of Ramsdens. Under the terms of the agreement, FirstCash will pay cash consideration of 600 pence for each share of Ramsdens stock. In addition, Ramsdens shareholders will receive an interim cash dividend of up to 9 pence for each Ramsdens share to be paid on October 9. The total equity value, including cash consideration for the shares and the interim cash dividend, is approximately $273M based on the exchange rate as of the close of business on June 22. The acquisition of Ramsdens, which operates 174 pawn locations across England, Scotland and Wales, expands FirstCash's geographic footprint in the U.K. The acquisition has been unanimously approved by the boards of directors of both FirstCash and Ramsdens. The transaction is subject to approval by Ramsdens' shareholders and customary regulatory approvals in the United Kingdom. The transaction is expected to close by the end of 2026, subject to receipt of these approvals and the satisfaction of other customary closing conditions.
FirstCash Reports Q1 Revenue of $1.05B, Exceeding Expectations
Reports Q1 revenue $1.05B, consensus $1.01B. CEO Rick Wessel stated, "FirstCash is pleased to report its Q1 results highlighted by record revenue, net income and EPS. Consolidated revenues again exceeded $1B for the quarter, representing an increase of 26% over the first quarter of last year. Resulting net income and adjusted EBITDA both increased 29%, while fully diluted EPS increased an impressive 30%. Our tremendous Q1 results were driven by exceptionally strong performances in each of the three pawn segments. Pawn revenues in the U.S. were up 16% while Latin America was up 40% on a U.S. dollar basis and 23% in local currency...Most notably, same-store pawn receivables at the end of Q1 increased an unprecedented 19% in the U.S., 30% in Latin America and 29% in the U.K. These trends point to significant further revenue momentum as we begin the second quarter, and accordingly, we are raising full year 2026 revenue guidance for each of our pawn segments. Additionally, the strong Q1 operating results generated significant operating cash flows which we utilized to further invest in the business while also reducing our leverage ratio, repurchasing stock and paying the quarterly cash dividend".
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