FCFS News & Events

FirstCash announced that it has reached agreement on the terms of a recommended cash acquisition of Ramsdens. Under the terms of the agreement, FirstCash will pay cash consideration of 600 pence for each share of Ramsdens stock. In addition, Ramsdens shareholders will receive an interim cash dividend of up to 9 pence for each Ramsdens share to be paid on October 9. The total equity value, including cash consideration for the shares and the interim cash dividend, is approximately $273M based on the exchange rate as of the close of business on June 22. The acquisition of Ramsdens, which operates 174 pawn locations across England, Scotland and Wales, expands FirstCash's geographic footprint in the U.K. The acquisition has been unanimously approved by the boards of directors of both FirstCash and Ramsdens. The transaction is subject to approval by Ramsdens' shareholders and customary regulatory approvals in the United Kingdom. The transaction is expected to close by the end of 2026, subject to receipt of these approvals and the satisfaction of other customary closing conditions.

Reports Q1 revenue $1.05B, consensus $1.01B. CEO Rick Wessel stated, "FirstCash is pleased to report its Q1 results highlighted by record revenue, net income and EPS. Consolidated revenues again exceeded $1B for the quarter, representing an increase of 26% over the first quarter of last year. Resulting net income and adjusted EBITDA both increased 29%, while fully diluted EPS increased an impressive 30%. Our tremendous Q1 results were driven by exceptionally strong performances in each of the three pawn segments. Pawn revenues in the U.S. were up 16% while Latin America was up 40% on a U.S. dollar basis and 23% in local currency...Most notably, same-store pawn receivables at the end of Q1 increased an unprecedented 19% in the U.S., 30% in Latin America and 29% in the U.K. These trends point to significant further revenue momentum as we begin the second quarter, and accordingly, we are raising full year 2026 revenue guidance for each of our pawn segments. Additionally, the strong Q1 operating results generated significant operating cash flows which we utilized to further invest in the business while also reducing our leverage ratio, repurchasing stock and paying the quarterly cash dividend".