FirstCash (FCFS) Q3 2025 earnings summary

Executive summary

• Completed acquisition of H&T, the leading UK pawn operator, adding 286 stores and expanding international presence; store base expanded to 3,311 locations as of September 30, 2025.

• Achieved record third quarter and nine-month revenue and earnings, driven by strong pawn demand across all markets and the H&T acquisition.

• Retail POS payment solutions (AFF) served 15,800 merchant partner locations, up 17% year-over-year.

• Declared a quarterly cash dividend of $0.42 per share and authorized a new $150 million share repurchase plan.

Financial highlights

• Q3 2025 revenue rose 12% year-over-year to $935.6M; net income increased 28% to $82.8M; adjusted net income for Q3 was $100.6M ($2.26/share), up from $75.2M ($1.67/share) in Q3 2024.

• Adjusted EBITDA for Q3 was $180.6M, up 30% year-over-year; trailing twelve-month adjusted EBITDA at $654M.

• Nine-month revenue reached $2.60B, up 4% year-over-year; net income was $226.2M, up 29%.

• Diluted EPS for Q3 up 29% to $1.86 (GAAP); adjusted EPS up 35% to $2.26.

• Free cash flow for the nine months was $168.0M, up from $129.9M a year ago; operating cash flows for the trailing twelve months grew 31% to $577M.

Outlook and guidance

• Expects continued expansion through new store openings and acquisitions, with a focus on international growth; raised full-year revenue growth expectations for U.S. and Latin America pawn segments.

• H&T acquisition expected to contribute $0.18–$0.20 per share in Q4 earnings accretion; full-year proforma EBITDA for H&T estimated at $65–$70M.

• U.S. pawn segment expects double-digit Q4 pawn fee growth and high single-digit retail sales growth.

• Latin America pawn expects mid to high-teen Q4 pawn fee revenue growth and double-digit retail sales comps, assuming stable currency rates.

• AFF origination volume for 2025 expected to be down 7–10% year-over-year, but up 15–20% excluding prior year bankrupt merchants.