FirstCash (FCFS) Q2 2025 earnings summary

Executive summary

• Net income for Q2 2025 was $59.8M, up 22% year-over-year; six-month net income was $143.4M, up 30%.

• Achieved record Q2 results with over 30% year-to-date EPS growth and an 11% increase in the quarterly dividend.

• Robust pawn demand drove 13% same-store pawn receivables growth in both U.S. and Latin America.

• Pending acquisition of H & T Group plc, the leading UK pawn operator, for £291.4M ($396.3M), expected to close in Q3 2025.

• Settlement reached with CFPB, resulting in a $11M accrual for consumer redress and fines.

Financial highlights

• Q2 2025 revenue was $830.6M; six-month revenue was $1.67B, both flat year-over-year.

• Q2 2025 EPS was $1.34 (diluted), up from $1.08 in Q2 2024; six-month EPS was $3.21, up from $2.44.

• Adjusted net income for Q2 2025 was $79.6M ($1.79/share), up from $61.9M ($1.37/share) in Q2 2024.

• Adjusted EBITDA for Q2 2025 was $145.1M, up from $121.9M in Q2 2024; trailing twelve months adjusted EBITDA was $613.0M.

• Free cash flow for the six months ended June 30, 2025 was $131.1M; adjusted free cash flow was $133.5M.

Outlook and guidance

• 2025 outlook raised: pawn operations expected to drive over 80% of segment pre-tax income.

• H & T acquisition expected to close in Q3 2025, expanding international footprint.

• U.S. pawn: full-year pawn fee growth now expected at 10–12%; retail sales growth in high single digits.

• Latin America pawn: full-year pawn fee growth expected at 10–12% local currency, flat to slightly up in USD.

• AFF: origination volumes (ex-furniture) expected to rise 20–25%; net revenues to decline 6–8% year-over-year.