FirstCash (FCFS) stock is soaring 6.86% in Thursday's pre-market trading following the company's announcement of exceptional third-quarter results that significantly surpassed analyst expectations. The pawn store operator and consumer finance company reported robust growth across all segments, driven by strong pawn demand and the recent acquisition of H&T pawn stores in the UK.
The company reported Q3 revenue of $935.58 million, beating the consensus estimate of $850 million. Adjusted earnings per share (EPS) came in at $2.26, well above the expected $1.97, representing a 35.33% increase from the same period last year. This strong performance was attributed to high pawn demand across U.S., Latin America, and UK markets, as well as the contribution from the recently acquired H&T pawn stores.
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 a positive outlook for Q4, including expected H&T earnings accretion of $0.18 to $0.20 per share, FirstCash appears well-positioned for continued growth in the coming quarters.
Comments