FirstCash shares fall nearly 5% despite record earnings across all segments

FORT WORTH, Texas - On Thursday, FirstCash Holdings, Inc. (NASDAQ:FCFS), the leading international operator of more than 3,300 retail pawn stores, reported record third-quarter earnings that exceeded analyst expectations.

The company’s shares fell 4.77% in pre-market trading following the announcement.

The company posted adjusted earnings per share of $2.26 for the third quarter, significantly beating the analyst estimate of $1.91. Revenue reached $935.58 million, surpassing the consensus estimate of $854.21 million. Despite these strong results, investors appeared concerned about other factors affecting the company’s outlook.

Third-quarter consolidated revenue increased 12% compared to the prior year, while net income rose 28% on a GAAP basis. The company’s performance was bolstered by its recent acquisition of H&T, the U.K.’s largest pawnbroker with 286 locations, which was completed on August 14, 2025.

"FirstCash’s third quarter operating results were outstanding, evidenced by accelerating revenue growth, strong margins and continued earnings growth in both the U.S. and Latin American pawn segments coupled with a strong partial quarter contribution from the recently acquired H&T pawn stores in the U.K.," said Rick Wessel, chief executive officer.

Pawn demand remained exceptionally strong across all markets, with third-quarter local currency same-store pawn receivables up 13% in the U.S., 18% in Latin America, and 25% in the U.K. compared to last year. The retail point-of-sale payment solutions segment, American First Finance (AFF), also recorded strong earnings growth driven by lower loss provisions and improved operating margins.

In the U.S. pawn segment, pre-tax operating income reached a record $112 million, a 14% increase compared to the prior-year quarter. The Latin America segment saw pre-tax operating income increase by 22% to $47 million, while the newly acquired U.K. segment contributed $18 million in pre-tax operating income.

The company’s board declared a quarterly cash dividend of $0.42 per share and authorized a new $150 million share repurchase plan. During the third quarter, FirstCash repurchased 230,000 shares of common stock at a total cost of $30 million.

Based on strong year-to-date results, FirstCash has raised its full-year revenue growth expectations for both U.S. and Latin American segments and increased the projected H&T accretion contribution. The company now expects H&T earnings accretion during the fourth quarter to be in a range of $0.18 to $0.20 per share.

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