First Cash Financial Services Inc. (NASDAQ:FCFS) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
First Cash Financial Services Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.24% to $0.68 in the quarter versus EPS of $0.58 in the year-earlier quarter.
Revenue: Rose 19.03% to $160.83 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: First Cash Financial Services Inc. reported adjusted EPS income of $0.68 per share. By that measure, the company missed the mean analyst estimate of $0.69. It beat the average revenue estimate of $157.92 million.
Quoting Management: Mr. Rick Wessel, chief executive officer, commented on the first quarter results, “We are pleased with our first quarter results as we again reached record levels of revenues and profitability. Our growth continues to be driven by strong customer demand in growing markets coupled with our singular focus on the core pawn business.”
Key Stats (on next page)…
Revenue decreased 10.27% from $179.24 million in the previous quarter. EPS decreased 26.88% from $0.93 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.67 to a profit $0.66. For the current year, the average estimate has moved down from a profit of $3.27 to a profit of $3.23 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)