FirstCash Holdings, Inc. (NASDAQ:FCFS) reported first-quarter results on Thursday that came in well above analyst expectations, alongside an upward revision to its full-year guidance.
The stock surged 4.72% in premarket trading following the announcement.
Earnings and revenue show robust growth
The pawn shop operator posted adjusted earnings per share of $2.69, exceeding the consensus estimate of $2.33 by $0.36. Revenue totaled $1.05 billion, beating forecasts of $1 billion and rising 26% from $836.4 million a year earlier.
Net income increased 29% year-on-year to $107.7 million, while adjusted net income climbed 28% to $119 million.
Pawn segments drive performance
Growth was supported by strong results across all three pawn segments.
Same-store pawn receivables—a key measure of future revenue—rose sharply, increasing 19% in the U.S., 30% in Latin America, and 29% in the U.K. on a local currency basis at the end of the quarter.
CEO Rick Wessel credited the performance to solid pawn fee expansion along with strong merchandise sales and margins, noting continued momentum into April, with U.S. receivables up more than 20%.
“Most notably, same-store pawn receivables at the end of the first quarter increased an unprecedented 19% in the U.S., 30% in Latin America and 29% in the U.K., representing further acceleration in pawn demand since the start of the year,” Wessel stated.
Guidance raised on strong momentum
Buoyed by the strong start to the year, FirstCash raised its 2026 outlook.
The company now expects pawn fee growth in the U.S. in the mid-teens, up from prior low double-digit guidance, and retail merchandise sales growth of at least 10%, compared with earlier expectations for high single-digit growth.
In Latin America, pawn fee growth is now projected in the high-teens, versus previous mid-teen forecasts. Meanwhile, the U.K. segment is expected to generate income of $125 million to $135 million, up from a prior range of $115 million to $125 million.
Expansion and shareholder returns
During the quarter, FirstCash opened eight new pawn locations and declared a quarterly dividend of $0.42 per share.