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FirstCash Holdings Inc. (FCFS+0.61%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenue of $3.39 billion, an increase from $3.15 billion in the previous year. The increase is attributed to growth in both the U.S. and Latin American pawn segments, as well as the retail POS payment solutions segment.
Net income for the year was $258.8 million, up from $219.3 million in the previous year. The increase in net income is primarily due to higher revenue and improved operating efficiencies.
The U.S. pawn segment reported revenue of $1.57 billion, a 15% increase from the previous year, driven by a rise in pawn loan fees and retail merchandise sales.
The Latin America pawn segment reported revenue of $811.9 million, a 1% increase from the previous year, with growth in retail merchandise sales and pawn loan fees.
The retail POS payment solutions segment reported revenue of $1.01 billion, a 3% increase from the previous year, due to higher interest and fees on finance receivables.
Operating expenses for the year were $901.0 million, compared to $832.1 million in the previous year, reflecting increased store counts and higher operating costs.
The company completed several acquisitions during the year, adding 28 pawn stores in the U.S. and 10 in Mexico, with a total purchase price of $107.6 million.
FirstCash Holdings ended the year with $175.1 million in cash and cash equivalents and had $528.9 million available under its revolving credit facilities.
The company declared a quarterly cash dividend of $0.38 per share, to be paid on February 28, 2025, to shareholders of record as of February 14, 2025.
The filing also details potential risks, including regulatory changes, economic conditions, and competition, which could impact future financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FirstCash Holdings Inc. annual 10-K report dated February 3, 2025. To report an error, please email earnings@qz.com.