Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 57

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 fees increased 9% during the six months ended June 30, 2025 compared to the six months ended June 30, 2024. The increase in total and same-store pawn loan fees was primarily due to the higher pawn loan balances.

Segment Expenses

U.S. operating expenses increased 8% to $262.8 million during the six months ended June 30, 2025 compared to $244.1 million during the six months ended June 30, 2024 while same-store operating expenses increased 6% compared with the prior-year period. The increase in operating expenses was primarily due to increased labor and variable compensation expenses.

Segment Pre-Tax Operating Income

The U.S. segment pre-tax operating income for the six months ended June 30, 2025 was $211.4 million, which generated a pre-tax segment operating margin of 25% compared to $187.2 million and 25% 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.

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Latin America Pawn Segment

Latin American segment pre-tax operating income for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 was impacted by a 17% unfavorable change in the average value of the Mexican peso compared to the U.S. dollar. 

The following table presents segment pre-tax operating income and other operating metrics of the Latin America pawn segment for the six months ended June 30, 2025 compared to the six 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 BasisSix MonthsEndedSix Months EndedJune 30,Increase /June 30,Increase /2025(Decrease) 20252024(Decrease)(Non-GAAP)(Non-GAAP)Latin America Pawn SegmentRevenue:Retail merchandise sales$256,488 $265,294 (3)%$296,887 12 %Pawn loan fees113,797 117,275 (3)%131,755 12 %Wholesale scrap jewelry sales19,749 18,053 9 %19,749 9 %Total revenue390,034 400,622 (3)%448,391 12 %Cost of revenue: