First Cash Financial Services ( (FCFS) ) has released its Q4 earnings. Here is a breakdown of the information First Cash Financial Services presented to its investors.
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FirstCash Holdings, Inc. operates over 3,000 pawn stores across the U.S. and Latin America, providing point-of-sale payment solutions and cash services primarily for cash and credit-constrained consumers. The company is a significant player in the pawn industry with a growing presence in retail finance solutions.
In its latest earnings report, FirstCash has reported record revenue and earnings for both the fourth quarter and full year of 2024. The company has declared a quarterly cash dividend, highlighting its robust financial health. The impressive financial performance was primarily driven by strong demand in its pawn operations in both the U.S. and Latin America, along with steady growth in its retail POS payment solutions segment.
Key financial metrics reveal that FirstCash achieved a record net income of $259 million on a GAAP basis for 2024, marking an 18% increase from the previous year. Adjusted net income reached $303 million. The company reported total revenue of $3.4 billion, an 8% increase from 2023. The U.S. pawn segment witnessed a significant rise in pawn receivables and retail merchandise sales, while the Latin America segment also saw growth despite currency fluctuations. The retail POS payment segment experienced a slight decrease in income due to challenges in the furniture vertical.
FirstCash continues to expand its store base, adding 99 pawn stores in 2024, and plans for further growth in 2025. The company’s strong cash flows and strategic acquisitions underline its commitment to increasing shareholder value through dividends and share buybacks.
Looking ahead, FirstCash anticipates continued growth driven by its pawn operations, with expectations for further store additions and increased demand for its payment solutions. The company remains optimistic about its ability to deliver solid financial results and enhance shareholder returns in 2025.
