First Cash Financial Services posts 3Q profit

Oct. 26, 2017

FORT WORTH, Texas (AP) _ First Cash Financial Services Inc. (FCFS) on Thursday reported third-quarter net income of $28.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Fort Worth, Texas-based company said it had profit of 59 cents. Earnings, adjusted for costs related to mergers and acquisitions and to extinguish debt, came to 61 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

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The pawn store posted revenue of $435.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $423.8 million.

First Cash Financial Services expects full-year earnings in the range of $2.60 to $2.70 per share.

First Cash Financial Services shares have risen 29 percent since the beginning of the year. The stock has increased 26 percent in the last 12 months.


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