FirstCash Has Repurchased $250 Million in Shares Since the Start of the Year and Raised Its Dividend 10%
Key Facts
FirstCash reported record third-quarter 2026 results, with revenue of $1.101 billion, net income of $101.152 million and diluted earnings per share of $2.33, according to an investor relations statement. Year over year, revenue rose 18%, net income 22% and earnings per share 25%. During the same period, the company repurchased 592 thousand shares at a cost of $123 million, bringing its total repurchases since the start of the year to 1.21 million shares at a cost of $250 million. It also raised its quarterly cash dividend to $0.46 per share, an increase of 10%. These figures provide a picture of business performance and capital allocation, while the available disclosure does not independently confirm the increase in the new authorization mentioned in the previous draft.
The results grew alongside an expansion in pawn operations, as revenue in the pawn segments rose 28% in the third quarter from a year earlier. Pawn receivables reached a record $908 million on September 30, compared with $788 million a year earlier. Consolidated operating cash flow totaled $679 million in the twelve months ended September 30, up 18% from the comparable period. CEO Rick Wessel said demand for pawn loans and low-priced retail remained strong amid persistent inflation. He added that the company expects demand to remain strong in the fourth quarter, linking this to market conditions described in the statement.
The company previously announced a share repurchase program in July 2026, with $50 million remaining when it reported third-quarter results. It said future repurchases would depend on projected liquidity, acquisition and other investment opportunities, restrictions under credit covenants and market conditions. This places the announced purchases during the quarter, which cost $123 million, within a capital policy that takes the company's needs and opportunities into account. The earnings statement does not link this policy to the stock's valuation or describe it as a signal of management's confidence in its price. The new authorization amount in the draft therefore cannot be confirmed from the facts available here.
Alongside the repurchases, the company announced a fourth-quarter cash dividend of $0.46 per share, payable on November 24, 2026, to shareholders of record on November 13. The dividend is a 10% increase from the previous one, according to the company statement. In August, FirstCash increased its unsecured bank facility from $700 million to $1.055 billion and extended its maturity to August 2031. The amendments allowed a net debt to adjusted earnings before interest, taxes, depreciation and amortization ratio of up to 3.5 times. The facility, dividend and repurchases form part of the context for the company's financing management and cash returns to shareholders, according to the figures it reported.
On expansion, FirstCash is targeting completion of its British Ramsdens deal by the end of 2026, subject to antitrust approval and customary conditions. The company said the deal could add more than 175 locations in the United Kingdom. Acquisition opportunities remain among the factors the company said it would consider when determining future repurchases, alongside liquidity, credit restrictions and market conditions. The company's shares, listed under the ticker FCFS, closed at $185.35 on October 27, compared with a close of $175.27 in the previous session. The price move came after the results announcement, while the available data do not include the stock's trading range during the session.