FirstCash Reports Record First Quarter Operating Results; Earnings per Share Increase 39% in Total and 34% on an Adjusted Basis; Operating Cash Flows Fund Store Additions, $60 Million of First Quarter Share Repurchases and Continued Quarterly Cash Dividend

Core Insights - FirstCash Holdings, Inc. reported record first quarter results for the period ending March 31, 2025, with significant growth in revenue and net income driven by strong performance in core pawn operations and retail point-of-sale payment solutions [2][18][24] Financial Performance - First quarter net income increased by 36% on a GAAP basis and 32% on an adjusted basis, with diluted earnings per share rising by 39% and 34% respectively compared to the prior year [9][21] - Gross revenues for the first quarter totaled $836 million, remaining flat on a U.S. dollar basis but up 4$3.4 billion, with net income of $281 million on a GAAP basis and adjusted net income of$325 million [9][36] Pawn Operations - Demand for pawn loans was robust, with same-store pawn receivables increasing by 13% in the U.S. and 14% in Latin America on a local currency basis, marking seven consecutive quarters of double-digit growth in the U.S. [3][25] - The U.S. pawn segment saw a 17% increase in earnings, driven by a 19% increase in merchant locations and diversification outside the furniture vertical [4][25] - Total outstanding pawn loans at the end of the quarter were up 16% in the U.S. and 15% in Latin America on a local currency basis [25][22] Retail POS Payment Solutions (AFF) - The AFF segment reported a record pre-tax operating income of $52 million, an increase of 58$60 million in stock repurchases, alongside a quarterly cash dividend of $0.38 per share [5][21] - Over the past twelve months, the company repurchased 1,246,000 shares at a total cost of$145 million, representing a payout ratio of approximately 75% of net income [21][29] 2025 Outlook - The outlook for 2025 remains positive, with expected year-over-year growth in income driven by continued growth in earning asset balances and store additions [18][22] - The company anticipates same-store pawn fee growth in the range of 9% to 11% for the full year, with retail sales expected to grow in the mid-single digits [22][31]