FirstCash Holdings Inc. (FCFS) stock surged 5.44% in pre-market trading on Thursday following the release of its impressive third-quarter financial results. The pawnshop operator and financial services provider significantly outperformed analyst expectations, demonstrating robust growth across all segments.
The company reported Q3 adjusted earnings per share of $2.26, handily beating the consensus estimate of $1.97. Revenue for the quarter came in at $935.58 million, surpassing analyst projections of $850 million. This strong performance was driven by several factors, including the successful integration of the recently acquired H&T pawn stores in the U.K. and strong pawn demand across U.S., Latin America, and U.K. markets.
Adding to investor optimism, FirstCash raised its full-year revenue growth expectations for both U.S. and Latin American operations. The company also announced a new $150 million share repurchase plan and declared a quarterly dividend of $0.42 per share. With the stock trading at 16 times next 12-month earnings and analysts maintaining a "buy" rating, FirstCash appears well-positioned for continued growth in the coming quarters.
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