FirstCash Reports Strong Q4 Earnings, Surpassing Expectations
FORT WORTH, Texas, Jan. 26, 2023 (Business Wire) - FirstCash Holdings, Inc. (FCFS) today announced a fourth-quarter profit of $83.5 million, translating to earnings per share of $1.86.
Adjusted for non-recurring costs, earnings reached $2.12 per share, exceeding Wall Street estimates of $2.02 per share. Analysts surveyed by Zacks Investment Research had predicted earnings of $2.02 per share.
Revenue for the quarter amounted to $883.8 million. For the full year, the company reported a profit of $258.8 million, or $5.73 per share, on revenue of $3.39 billion.
FirstCash's strong financial performance is attributed to its robust pawn lending business and cost optimization initiatives. The company remains optimistic about its future prospects and continues to explore growth opportunities in the alternative financial services sector.