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EZCORP Inc. (EZPW+8.82%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing total revenues of $320.2 million, up from $300 million in the previous year. This increase was driven by higher pawn service charges and merchandise sales.
Pawn service charges rose to $117.1 million, compared to $106.4 million in the same quarter the previous year, reflecting increased pawn loan balances.
Merchandise sales for the quarter were $186.3 million, up from $179.4 million in the previous year, with a gross margin on merchandise sales remaining steady at 37%.
Jewelry scrapping sales increased to $16.7 million from $14.1 million, with a gross margin of 23%, up from 12% in the previous year.
Operating expenses totaled $143.5 million, up from $135.5 million, primarily due to increased store expenses and general administrative costs.
Net income for the quarter was $31.0 million, up from $28.5 million in the previous year. Basic earnings per share were $0.57, compared to $0.52 in the previous year.
Cash provided by operating activities was $26.0 million, while cash used in investing and financing activities was $14.0 million and $7.1 million, respectively.
EZCORP had a working capital of $739.0 million as of December 31, 2024, with cash and cash equivalents totaling $174.5 million.
The filing also details various strategic investments, including a 43.7% ownership in Cash Converters and a $45.0 million preferred equity investment in Founders One, LLC.
EZCORP continues to focus on expanding its pawn operations in the U.S. and Latin America, with a total of 1,283 stores as of December 31, 2024, up from 1,237 stores in the previous year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the EZCORP Inc. quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.