EZCORP Q4 revenue rises 16%; full-year net income falls to $38.5 million
EZCORP reported results for the quarter and full year ended September 30, 2023. Fourth-quarter revenue rose 16% to $270.5 million and net income rose to $10.3 million, but full-year net income fell to $38.5 million from $50.2 million, mainly due to its share of a one-time, non-cash goodwill impairment recorded by Cash Converters International. The company also disclosed a new employment contract with CEO Lachlan Given, which it says mirrors his existing U.S. terms to comply with U.K. employment law.
- Fourth-quarter diluted EPS was $0.15 versus $0.11 a year earlier; full-year diluted EPS was $0.53 versus $0.70.
- Full-year total revenues were $1.049 billion, up 18% from $886.2 million, while full-year income before taxes fell to $51.6 million from $67.7 million.
- Pawn loans outstanding rose 17% to $245.8 million; the company added 21 stores in the quarter.
- The earnings conference call is scheduled for November 16, 2023 at 8:00 a.m. Central Time.