Firstcash Holdings Inc Stock Price, News & Analysis

FirstCash Holdings, Inc. (Nasdaq: FCFS) has finalized its acquisition of American First Finance (AFF), marking its entry into the lease to own and point-of-sale payment sector. This strategic move aims to enhance revenue diversification and growth opportunities in both pawn and retail payment spaces. Additionally, FirstCash underwent a holding company reorganization, with shares of FirstCash, Inc. converting to FirstCash Holdings, Inc. Doug Rippel, former Chairman of AFF, joins the Board. The acquisition is positioned as a tax-free transaction for shareholders.

FirstCash, Inc. (Nasdaq: FCFS) has increased its private offering of senior notes to $550 million, up by $25 million, due in 2030. The notes, with a 5.625% interest rate payable semi-annually, are expected to close on December 13, 2021. Proceeds will finance the acquisition of American First Finance Inc. (AFF), cover AFF’s outstanding debt, and pay related expenses. Notably, if the acquisition is not completed by March 31, 2022, the notes will be subject to mandatory redemption.

FirstCash, Inc. (Nasdaq: FCFS) has announced a private placement offering of $525 million in senior notes due 2030. The proceeds will finance the cash consideration for the pending acquisition of American First Finance Inc. (AFF), repay AFF's debt, and cover related fees. The offering is not contingent on the acquisition's closing but includes a special redemption clause if the acquisition is not consummated by March 31, 2022. The notes will be offered solely to qualified institutional buyers under Rule 144A and Regulation S.

FirstCash, Inc. (Nasdaq: FCFS) has amended its agreement to acquire American First Finance Inc. (AFF), keeping the total acquisition value at approximately $916 million, significantly down from the initial valuation of $1.17 billion. The deal involves 8.05 million shares and $406 million in cash, along with up to $75 million in contingent payments based on stock performance. The acquisition is set to close by the end of 2021, pending regulatory approvals. Both companies reported strong performance, and FirstCash aims to enhance shareholder value through this strategic acquisition.

FirstCash (Nasdaq: FCFS) has announced its acquisition of American First Finance (AFF) in a deal valued at approximately $1.17 billion, combining 8.05 million shares with $406 million in cash. This acquisition marks FirstCash's entry into the growing point-of-sale payments market, estimated at $600 billion. AFF, a leader in the lease-to-own sector, is expected to generate over $800 million in revenue by 2022, with projected adjusted EBITDA of $120-$140 million. The transaction is anticipated to enhance earnings per share by 15% and adjusted EBITDA by 30% in 2022.

FirstCash reported strong operating results for the third quarter of 2021, with revenue reaching $399.7 million, up 11% from last year. Net income surged 121% to $33.4 million, and diluted earnings per share hit $0.82, a 128% increase. The company announced an 18-store acquisition in the Gulf Coast, bringing total store additions to 96 this year. A $0.30 cash dividend is set for November 2021. Pawn receivables rose 29% year-over-year, while retail merchandise inventories grew 51%. The company remains optimistic about future growth despite cautious uncertainties regarding COVID-19.

FirstCash, Inc. (Nasdaq: FCFS) reported strong second-quarter results, highlighting a recovery in pawn receivables and robust retail operations. The company acquired a 26-store chain in Texas and opened 12 new stores, bringing its total to 2,804. Revenue for the second quarter was $389.6 million, and net income increased by 10% year-over-year. A quarterly dividend of $0.30 per share was declared, showcasing strong cash flows and a commitment to shareholder returns amid ongoing COVID-19 challenges.

FirstCash, a leading pawn retail operator, reported robust Q1 results for the period ending March 31, 2021, with $33.7 million net income and a 5% increase in diluted earnings per share. The Board declared a $0.30 dividend, up 11% from the previous quarter. Notable factors include $407.9 million in revenue despite a 13% decline year-over-year, and improved retail margins in the U.S. and Latin America. The company opened 24 new stores and reduced debt by $79 million, positioning itself well for future growth and shareholder returns.

FirstCash, Inc. (Nasdaq: FCFS) reported Q4 2020 results, highlighting resilience amid COVID-19 challenges. Revenue decreased 21% year-over-year, with net income down 38% to $32.7 million. Retail sales margins reached a record 42%, supported by a sequential 9% sales increase. The company opened 137 new stores and spent $107 million on share repurchases in 2020. A quarterly cash dividend of $0.27 per share was declared. Despite a cloudy outlook for 2021 due to COVID-19 uncertainties, management remains optimistic about growth and profitability improvements.