FirstCash Says 'Given The Strong Growth In Store Counts YTD, Q4 And Full Year Retail Sales Are Expected To Grow In Both Markets As Well. Retail Margins Are Anticipated To Remain Strong At 42% To 43% In The U.S. And 35% To 36% In Latin America'
Portfolio Pulse from Benzinga Newsdesk
FirstCash has reported strong growth in store counts year-to-date, with expectations for Q4 and full-year retail sales to grow in both the U.S. and Latin America. Retail margins are expected to remain strong at 42%-43% in the U.S. and 35%-36% in Latin America. The company's outlook for the remainder of 2023 remains highly positive due to strong Q3 results, recent pawn acquisitions, and continued growth in earning assets. Pawn operations are expected to be the primary earnings driver in 2023, contributing approximately 80% of total segment level pre-tax income for the full year.
October 26, 2023 | 12:29 pm
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POSITIVE IMPACT
FirstCash's strong growth in store counts and positive outlook for the remainder of 2023, driven by strong Q3 results, recent pawn acquisitions, and continued growth in earning assets, is expected to positively impact its stock price in the short term.
The company's strong growth in store counts and positive outlook for the remainder of 2023, driven by strong Q3 results, recent pawn acquisitions, and continued growth in earning assets, indicates a strong financial performance. This is likely to attract investors, leading to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100