Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 106

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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5 was $98.3 million, which generated a pre-tax segment operating margin of 24% compared to $90.6 million and 24% in the prior year, respectively. The increase in the segment pre-tax operating income reflected increased net revenue, partially offset by an increase in segment expenses. 

29

Latin America Pawn Segment

Latin American segment pre-tax operating income for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was impacted by a 13% unfavorable change in the average value of the Mexican peso compared to the U.S. dollar. The translated value of Latin American earning assets as of June 30, 2025 compared to June 30, 2024 was also impacted by a 3% unfavorable change in the end-of-period Mexican peso compared to the U.S. dollar. Constant currency results are non-GAAP financial measures, which exclude the effects of foreign currency translation and are calculated by translating current-year results at prior-year average exchange rates. See the “Constant Currency Results” section in “Non-GAAP Financial Information” below for additional discussion of constant currency operating results.

The following table presents segment pre-tax operating income and other operating metrics of the Latin America pawn segment for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 (dollars in thousands). Operating expenses include salary and benefit expenses of pawn store-level employees, occupancy costs, bank charges, security, insurance, utilities, supplies and other costs incurred by the pawn stores.

Constant Currency BasisThree MonthsEndedThree Months EndedJune 30,Increase /June 30,Increase /2025(Decrease) 20252024(Decrease)(Non-GAAP)(Non-GAAP)Latin America Pawn SegmentRevenue:Retail merchandise sales$135,956 $134,445 1 %$153,234 14 %Pawn loan fees59,874 60,714 (1)%67,497 11 %Wholesale scrap jewelry sales10,076 8,823 14 %10,076 14 %Total revenue205,906 203,982 1 %230,807 13 %Cost of revenue:   Cost of retail merchandise sold87,579 86,276 2 %98,641 14 %Cost of wholesale scrap jewelry sold8,639 7,273 19 %9,811 35 %Total