FirstCash Holdings, Inc. reports developments tied to its international pawn-store operations and retail point-of-sale payment solutions business. News commonly covers operating results, pawn receivable trends, store openings and acquisitions across the U.S., Latin America and the U.K., and the contribution of American First Finance.
Company updates also address dividends, share repurchases, senior-note and credit-facility activity, investor presentations, governance matters, and consumer-finance regulatory developments. The completed H&T Group acquisition established FirstCash's U.K. pawn segment alongside its U.S. and Latin America pawn operations.
FirstCash, Inc. (Nasdaq: FCFS) reported its operating results for Q2 2020, highlighting significant challenges amid COVID-19 impacts. Revenue for the quarter was $412.7 million, a decrease from $446 million in Q2 2019, while net income fell to $25.9 million. The company exited unsecured consumer lending on June 30, 2020. Despite lower pawn loan demand, retail sales surged 24% due to ongoing operations offering essential products. The Board declared a $0.27 per share cash dividend. Cash flow allowed for $156 million in debt reduction, maintaining a strong liquidity position with $71 million in cash and $323 million available in credit.