stockrowLatest quarter
FirstCash reported Q2 FY2026 revenue of $1.1 billion, up from $830.6 million a year earlier, and diluted earnings per share of $2.12, compared with $1.34. Gross margin was unchanged at 49.7%, while operating margin rose to 14.9% from 12.3%.
The company reported free cash flow of $149.3 million, compared with $82.7 million a year earlier. Its pawnshops provide loans secured by customers’ property and sell used merchandise, while its American First Finance business helps merchants offer customers payment options.
For the subsequent quarter ended September 30, 2026, FirstCash reported adjusted earnings per share of $2.68, compared with the consensus estimate of $2.64. In its filing for that quarter, the company attributed higher U.S. pawn loan fees to increased pawn receivable balances. It attributed lower leased merchandise income to lower average leased merchandise balances.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $1.1 billion | $830.6 million | 29.4% |
| Diluted EPS | $2.12 | $1.34 | 58.2% |
| Gross margin | 49.7% | 49.7% | 0.0 percentage points |
| Operating margin | 14.9% | 12.3% | 2.6 percentage points |
| Free cash flow | $149.3 million | $82.7 million | 80.7% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $2.68 | $2.64 | Beat by 1.52% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
FirstCash’s latest earnings call was unavailable for review. In its subsequent third-quarter filing, the company attributed growth in U.S. same-store pawn receivables to more customer transactions and larger average loan requests.
The filing attributed increased U.S. scrap jewelry revenue to more forfeited collateral available for scrapping and higher gold prices. In retail payment solutions, FirstCash attributed lower leased merchandise balances to reduced transaction volumes amid weakness in the furniture industry.
Guidance
FirstCash’s release sets out its outlook for the fourth quarter and full year of 2026, but a comparison with its previous guidance is not available.
| Metric | For | Guide | Previous guide | Change |
|---|---|---|---|---|
| Tax rate | FY2026 | 26.0%–27.0% | — | New |
| Operating expenses, Corporate Administrative | Q4 FY2026 | FirstCash expects corporate administrative expenses in Q4 FY2026 to remain at a run rate similar to the first three quarters. | — | — |
| Operating expenses, American First Finance | Q4 FY2026 | FirstCash expects American First Finance operating expenses in Q4 FY2026 to remain at a run rate similar to Q3. | — | — |
| Revenue growth, American First Finance Net Revenue Decrease | Q4 FY2026 | 15.0%–20.0% | — | New |
| Operating expenses growth, UK Pawn Growth | Q4 FY2026 | 10.0% | — | New |
| Revenue, UK Pawn Fees Growth | Q4 FY2026 | FirstCash expects U.K. pawn fees to grow in the mid- to high-single-digit range in Q4 FY2026. | — | — |
| Operating expenses growth, Latin America Pawn Growth | Q4 FY2026 | 10.0%–12.0% | — | New |
| Revenue, Latin America Pawn Fees Growth | Q4 FY2026 | FirstCash expects low- to mid-teens growth in Latin American pawn fees in Q4 FY2026. | — | — |
| Operating expenses, US Pawn Store Growth | Q4 FY2026 | FirstCash expects U.S. pawn store operating expenses to grow in the mid-single-digit range in Q4 FY2026. | — | — |
| Revenue growth, US Pawn Retail Sales Growth | Q4 FY2026 | 8.00%–10.0% | — | New |
| Revenue, US Pawn Fees Growth | Q4 FY2026 | FirstCash expects low-double-digit growth in U.S. pawn fees in Q4 FY2026. | — | — |
| Operating income growth, Pawn Segments Share of Total Segment Pretax Income | FY2026 | 90.0% | — | New |
| Revenue growth, Pawn Segments Share of Total Net Revenue | FY2026 | 90.0% | — | New |
| Revenue, Pawn Operations | Q4 FY2026 | FirstCash expects double-digit revenue growth from pawn operations in Q4 FY2026. | — | — |