FirstCash (FCFS) Q1 2026 earnings summary

Executive summary

• Trailing twelve-month revenue reached $3.9 billion, with GAAP net income of $354 million and adjusted net income of $416 million as of March 31, 2026.

• Q1 2026 revenue was $1.05 billion, up 26% year-over-year, with GAAP net income of $108 million and adjusted EBITDA of $211 million, both up 29% year-over-year.

• Diluted EPS for Q1 2026 was $2.43 (GAAP) and $2.69 (adjusted), with trailing twelve-month adjusted EPS at $8.76.

• Over 3,300 pawn locations across the U.S., Latin America, and the U.K., with the pawn segment contributing ~90% of total earnings.

• The acquisition of H&T Group plc in August 2025 expanded the U.K. pawn segment, contributing $102 million in Q1 2026 revenue.

Financial highlights

• Adjusted EBITDA for the trailing twelve months was $746 million; adjusted free cash flow was $267 million.

• Q1 2026 U.S. pawn revenue grew 16% year-over-year to $489 million; Latin America revenue grew 23% year-over-year to $226 million (constant currency); U.K. segment reported $102 million in Q1 revenue with a 39% pre-tax margin.

• Q1 2026 net income was $108 million, up from $83.6 million year-over-year.

• Operating cash flow for the trailing twelve months was $613 million (+13% YoY).

• Working capital was $1.51 billion with a current ratio of 4.8:1 as of March 31, 2026.

Outlook and guidance

• Raised 2026 revenue guidance for all pawn segments due to accelerating pawn demand and strong Q1 results.

• U.S. pawn expects mid-teen pawn fee growth and 10%+ retail sales growth for 2026.

• Latin America pawn expects high-teen pawn fee growth and mid-teen retail sales growth, assuming stable FX rates.

• U.K. pawn 2026 segment income projected at $125–$135 million, up from prior guidance.

• Continued focus on expanding pawn operations through new store openings and acquisitions in all regions.