FirstCash Q2 Results Surpass Street Estimates

(RTTNews) - Pawn stores operator FirstCash, Inc. (FCFS) on Wednesday reported net income of $28.43 million or $0.70 per share in the second quarter, higher than $25.87 million or $0.62 per share in the same quarter a year ago.

Excluding items, earnings were $29.04 million or $0.71 per share, that beat the average estimate of seven analysts polled by Thomson Reuters at $0.61 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter decreased to $389.58 million from $412 75 million last year. The consensus estimate was for $377.4 million.

Additionally, the company's board declared a quarterly dividend of $0.30 per share, to be paid in August 2021.

"Even though revenues are still recovering, we posted year-to-date segment operating profit margins of 20% or more in both the U.S. and Latin America. These first half results, coupled with anticipated further growth in pawn receivables and revenues and continued expense discipline, position us well for earnings growth in the back half of 2021'" Rick Wessel, chief executive officer stated.