FirstCash, Inc. Revises Earnings Guidance for 2019; Plans to Open Approximately 80 to 85 New Full-Service Pawn Stores in 2019 in Latin America
July 24, 2019 at 04:18 pm EDT
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FirstCash, Inc. revised earnings guidance for 2019. The company announced that an anticipated earnings drag of approximately $0.25 to $0.30 per share during 2019.
The company announced the plans to open a total of approximately 80 to 85 new full-service pawn stores in 2019 in Latin America, which includes targeted openings of 57 to 62 stores in Mexico, 15 stores in Guatemala and eight stores in Colombia. The increased number of projected store openings in 2019 combined with the first half front-loading of new store openings will cause an expected additional drag to earnings of approximately $0.02 to $0.03 per share compared to last year. The company expects to complete additional acquisitions in 2019, primarily in Latin America, which are not reflected in the guidance.
FirstCash Holdings, Inc. is an operator of pawn stores in the United States and Latin America. It is a provider of technology-driven, retail point-of-sale (POS) payment solutions focused on serving cash and credit-constrained consumers in the U.S. and Puerto Rico. It operates two business lines: pawn operations and retail POS payment solutions, which are organized into three reportable segments. The U.S. pawn segment consists of pawn operations in 29 U.S. states and the District of Columbia, while the Latin America pawn segment consists of pawn operations in Mexico, Guatemala, Colombia and El Salvador. The retail POS payment solutions segment consists of the operations of American First Finance, LLC (AFF) in all 50 states in the U.S., the District of Columbia and Puerto Rico. Its pawn stores buy and sell a variety of jewelry, electronics, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property.
FIRSTCASH HOLDINGS, INC. 
