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Share Name | Share Symbol | Market | Type |
---|---|---|---|
EZCORP Inc | NASDAQ:EZPW | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.11 | -1.04% | 10.43 | 9.72 | 10.51 | 10.58 | 10.29 | 10.54 | 936,935 | 22:16:11 |
EZCORP, Inc. (NASDAQ: EZPW) today announced results for its second quarter ended March 31, 2021.
All amounts in this release are in conformity with U.S. generally accepted accounting principles ("GAAP") unless otherwise noted. Comparisons shown in this release are to the same period in the prior year unless otherwise noted.
CEO COMMENTARY AND OUTLOOK
Chief Executive Officer Jason Kulas stated, “We remain focused on meeting our customers’ short-term cash needs and providing access to affordable pre-owned general merchandise and jewelry, and we believe we have the right people, platform, footprint and cost structure in place to continue to strengthen and grow our core pawn business. Key highlights for the second quarter of fiscal 2021 included GAAP earnings per share of $0.10 and adjusted EPS of $0.17. The adjusted EPS was steady on a year-over-year basis despite lower pawn loans outstanding, pawn service charges and merchandise sales related to COVID-19 and related stimulus program headwinds. Merchandise sales gross profit continued to grow driven by improving inventory turns and rising merchandise margins, and we made further progress on our expense reduction initiatives. Looking ahead, even assuming store-level costs trend higher consistent with increasing transaction activity, we remain well positioned to drive higher operating margins as revenue rebuilds reflecting ongoing cost savings and simplification efforts across the business.
“In the near term, lingering impacts from the second stimulus package as well as an extended tax filing season have continued to temporarily reduce demand for pawn loans in the U.S., and in Latin America we continue to be challenged with constrained traffic, limited operating hours and increased remittances. That said, we remain confident pawn loans outstanding will rebuild given several ongoing initiatives. First, we continue to broaden customer engagement via our digital pawn servicing platform and expanded payment options. Second, our differentiated technology and data analytics capabilities are increasingly driving improving loan-to-value ratios and redemption rates. Third, we remain committed to optimizing team member development, productivity and retention through enhanced training and diversity and inclusion programs.
"Finally, we remain focused on increasingly leveraging our strong balance sheet to fund pawn loans outstanding growth and capitalize on strategic and financially accretive acquisitions to complement de novo store growth. We have opened 8 de novo stores in Latin America so far this year and recently completed the acquisition of 11 stores in the Houston, Texas metropolitan area.”
RESULTS FOR SECOND QUARTER OF FISCAL 2021
CONSOLIDATED RESULTS
Three Months Ended March 31
in millions, except per share amounts
As Reported
Adjusted1
2021
2020
2021
2020
Total Revenues
$
184.9
$
223.3
$
185.5
$
223.3
Net Revenues
$
113.7
$
127.4
$
114.1
$
127.4
Income, Before Tax
$
6.8
$
(34.1)
$
10.4
$
16.6
Net Income
$
5.3
$
(40.9)
$
9.5
$
9.4
Diluted Earnings Per Share
$
0.10
$
(0.74)
$
0.17
$
0.17
EBITDA
$
19.8
$
(21.4)
$
20.0
$
26.0
SEGMENT RESULTS
U.S. Pawn
Latin America Pawn
FORM 10-Q
EZCORP’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 has been filed with the Securities and Exchange Commission and is available in the Investor Relations section of the Company’s website at http://investors.ezcorp.com.
CONFERENCE CALL
EZCORP will host a conference call on Thursday, May 6, 2021, at 7:00 am Central Time to discuss fiscal second quarter results. Analysts and institutional investors may participate on the conference call by dialing (866) 269-4260, Conference ID: 5433254, or internationally by dialing (323) 347-3277. The conference call will be webcast simultaneously to the public through this link: http://investors.ezcorp.com/. A replay of the conference call will be available online at http://investors.ezcorp.com/ shortly after the end of the call.
ABOUT EZCORP
Formed in 1989, EZCORP has grown into a leading provider of pawn loans in the United States and Latin America. We also sell merchandise, primarily collateral forfeited from pawn lending operations and pre-owned merchandise purchased from customers. We are dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience. EZCORP is traded on NASDAQ under the symbol EZPW and is a member of the Russell 2000 Index, S&P 1000 Index and Nasdaq Composite Index.
FORWARD LOOKING STATEMENTS
This announcement contains certain forward-looking statements regarding the company’s strategy, initiatives and expected performance. These statements are based on the Company’s current expectations as to the outcome and timing of future events. All statements, other than statements of historical facts, including all statements regarding the company's strategy, initiatives and future performance, that address activities or results that the company plans, expects, believes, projects, estimates or anticipates, will, should or may occur in the future, including future financial or operating results, are forward-looking statements. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including operating risks, liquidity risks, legislative or regulatory developments, market factors, current or future litigation and risks associated with the COVID-19 pandemic. For a discussion of these and other factors affecting the Company’s business and prospects, see the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
1 Adjusted basis, which is a non-GAAP measure, excludes certain items. Constant currency basis, which is a non-GAAP measure, excludes the impact of foreign currency exchange rate fluctuations. Free cash flow, which is a non-GAAP measure, includes certain adjustments to cash flow from operating activities.
For additional information about these calculations, as well as a reconciliation to the most comparable GAAP financial measures, see Non-GAAP Financial Information at the end of this release.
EZCORP, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended
March 31,
Six Months Ended
March 31,
(in thousands, except per share amount)
2021
2020
2021
2020
Revenues:
Merchandise sales
$
115,225
$
129,830
$
223,008
$
256,558
Jewelry scrapping sales
6,075
11,878
12,834
21,406
Pawn service charges
63,436
80,222
126,925
164,947
Other revenues
203
1,350
307
2,803
Total revenues
184,939
223,280
363,074
445,714
Merchandise cost of goods sold
65,790
85,776
130,333
169,852
Jewelry scrapping cost of goods sold
5,401
9,617
10,603
17,371
Other cost of revenues
—
525
—
1,061
Net revenues
113,748
127,362
222,138
257,430
Operating expenses:
Store expenses
81,149
87,648
160,458
176,923
General and administrative
13,771
15,341
26,281
34,179
Impairment of goodwill, intangible and other assets
—
47,060
—
47,060
Depreciation and amortization
8,089
7,762
15,661
15,495
Loss on sale or disposal of assets and other
112
261
90
1,005
Total operating expenses
103,121
158,072
202,490
274,662
Operating income (loss)
10,627
(30,710
)
19,648
(17,232
)
Interest expense
5,518
5,881
10,973
11,210
Interest income
(585
)
(941
)
(1,406
)
(1,784
)
Equity in net (income) loss of unconsolidated affiliates
(1,250
)
(1,184
)
(1,766
)
4,713
Other expense (income)
145
(341
)
(454
)
(243
)
Income (loss) before income taxes
6,799
(34,125
)
12,301
(31,128
)
Income tax expense
1,469
6,749
2,672
8,508
Net income (loss)
$
5,330
$
(40,874
)
$
9,629
$
(39,636
)
Basic earnings (loss) per share
$
0.10
$
(0.74
)
$
0.17
$
(0.71
)
Diluted earnings (loss) per share
$
0.10
$
(0.74
)
$
0.17
$
(0.71
)
Weighted-average basic shares outstanding
55,661
55,448
55,509
55,557
Weighted-average diluted shares outstanding
55,665
55,522
55,511
55,608
EZCORP, Inc.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands, except share and per share amounts)
March 31,
2021
March 31,
2020
September 30,
2020
(Unaudited)
Assets:
Current assets:
Cash and cash equivalents
$
335,638
$
193,729
$
304,542
Restricted cash
8,006
4,000
8,011
Pawn loans
125,268
160,179
131,323
Pawn service charges receivable, net
20,842
27,304
20,580
Inventory, net
86,214
173,251
95,891
Notes receivable, net
—
3,728
—
Prepaid expenses and other current assets
30,676
23,629
32,903
Total current assets
606,644
585,820
593,250
Investments in unconsolidated affiliates
34,961
27,993
32,458
Property and equipment, net
51,836
58,787
56,986
Lease right-of-use asset
170,479
206,839
183,809
Goodwill
258,199
257,222
257,582
Intangible assets, net
58,125
64,043
58,638
Notes receivable, net
1,164
1,132
1,148
Deferred tax asset, net
9,693
6,251
8,931
Other assets
5,152
5,045
4,221
Total assets
$
1,196,253
$
1,213,132
$
1,197,023
Liabilities and equity:
Current liabilities:
Current maturities of long-term debt, net
$
—
$
267
$
213
Accounts payable, accrued expenses and other current liabilities
69,019
53,152
71,504
Customer layaway deposits
11,401
13,060
11,008
Lease liability
41,060
44,076
49,742
Total current liabilities
121,480
110,555
132,467
Long-term debt, net
257,143
244,288
251,016
Deferred tax liability, net
167
2,540
524
Lease liability
138,622
171,006
153,040
Other long-term liabilities
9,597
7,190
10,849
Total liabilities
527,009
535,579
547,896
Commitments and Contingencies (Note 11)
Stockholders’ equity:
Class A Non-voting Common Stock, par value $0.01 per share; shares authorized: 100 million; issued and outstanding: 52,873,568 as of March 31, 2021; 52,097,590 as of March 31, 2020; and 52,332,848 as of September 30, 2020
528
521
521
Class B Voting Common Stock, convertible, par value $0.01 per share; shares authorized: 3 million; issued and outstanding: 2,970,171
30
30
30
Additional paid-in capital
399,439
406,171
398,475
Retained earnings
327,798
347,004
318,169
Accumulated other comprehensive loss
(58,551
)
(76,173
)
(68,068
)
Total equity
669,244
677,553
649,127
Total liabilities and equity
$
1,196,253
$
1,213,132
$
1,197,023
EZCORP, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Six Months Ended
March 31,
(in thousands)
2021
2020
Operating activities:
Net income (loss)
$
9,629
$
(39,636
)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization
15,661
15,495
Amortization of debt discount and deferred financing costs
6,754
6,493
Amortization of lease right-of-use asset
23,835
22,752
Accretion of notes receivable discount and deferred compensation fee
—
(546
)
Deferred income taxes
(1,119
)
(3,698
)
Impairment of goodwill and intangible assets
—
47,060
Other adjustments
(250
)
1,810
Provision for inventory reserve
(5,265
)
(742
)
Stock compensation expense
1,618
2,722
Equity in net (income) loss of unconsolidated affiliates
(1,766
)
4,713
Changes in operating assets and liabilities:
Service charges and fees receivable
(106
)
4,027
Inventory
6,481
(539
)
Prepaid expenses, other current assets and other assets
3,874
(2,791
)
Accounts payable, accrued expenses and other liabilities
(43,436
)
(37,799
)
Customer layaway deposits
238
538
Income taxes
2,573
1,412
Net cash provided by operating activities
18,721
21,271
Investing activities:
Loans made
(269,468
)
(351,050
)
Loans repaid
177,888
229,054
Recovery of pawn loan principal through sale of forfeited collateral
109,019
158,792
Capital expenditures, net
(8,359
)
(12,160
)
Net cash provided by investing activities
9,080
28,636
Financing activities:
Taxes paid related to net share settlement of equity awards
(839
)
(1,458
)
Payout of deferred consideration
—
(175
)
Proceeds from borrowings, net of issuance costs
—
(109
)
Payments on borrowings
(871
)
(355
)
Repurchase of common stock
—
(5,159
)
Net cash used in financing activities
(1,710
)
(7,256
)
Effect of exchange rate changes on cash and cash equivalents and restricted cash
5,000
(7,364
)
Net increase in cash, cash equivalents and restricted cash
31,091
35,287
Cash, cash equivalents and restricted cash at beginning of period
312,553
162,442
Cash, cash equivalents and restricted cash at end of period
$
343,644
$
197,729
Supplemental disclosure of cash flow information
Cash and cash equivalents
$
335,638
$
193,729
Restricted cash
8,006
4,000
Total cash and cash equivalents and restricted cash
$
343,644
$
197,729
Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory
$
99,285
$
156,468
EZCORP, Inc.
OPERATING SEGMENT RESULTS
(Unaudited)
Three Months Ended March 31, 2021
(in thousands)
U.S. Pawn
Latin America
Pawn
Other
International
Total Segments
Corporate
Items
Consolidated
Revenues:
Merchandise sales
$
93,827
$
21,398
$
—
$
115,225
$
—
$
115,225
Jewelry scrapping sales
3,581
2,494
—
6,075
—
6,075
Pawn service charges
49,577
13,859
—
63,436
—
63,436
Other revenues
29
—
174
203
—
203
Total revenues
147,014
37,751
174
184,939
—
184,939
Merchandise cost of goods sold
51,812
13,978
—
65,790
—
65,790
Jewelry scrapping cost of goods sold
3,149
2,252
—
5,401
—
5,401
Other cost of revenues
—
—
—
—
—
—
Net revenues
92,053
21,521
174
113,748
—
113,748
Segment and corporate expenses (income):
Store expenses
63,657
17,492
—
81,149
—
81,149
General and administrative
—
—
—
—
13,771
13,771
Depreciation and amortization
2,636
1,793
—
4,429
3,660
8,089
Loss on sale or disposal of assets and other
—
101
—
101
11
112
Interest expense
—
—
—
—
5,518
5,518
Interest income
—
(571
)
—
(571
)
(14
)
(585
)
Equity in net income of unconsolidated affiliates
—
—
(1,250
)
(1,250
)
—
(1,250
)
Other expense
—
85
9
94
51
145
Segment contribution
$
25,760
$
2,621
$
1,415
$
29,796
Income (loss) before income taxes
$
29,796
$
(22,997
)
$
6,799
Three Months Ended March 31, 2020
(in thousands)
U.S. Pawn
Latin America
Pawn
Other
International
Total Segments
Corporate
Items
Consolidated
Revenues:
Merchandise sales
$
102,447
$
27,383
$
—
$
129,830
$
—
$
129,830
Jewelry scrapping sales
9,659
2,219
—
11,878
—
11,878
Pawn service charges
61,700
18,522
—
80,222
—
80,222
Other revenues
31
25
1,294
1,350
—
1,350
Total revenues
173,837
48,149
1,294
223,280
—
223,280
Merchandise cost of goods sold
65,286
20,490
—
85,776
—
85,776
Jewelry scrapping cost of goods sold
7,800
1,817
—
9,617
—
9,617
Other cost of revenues
—
37
488
525
—
525
Net revenues
100,751
25,805
806
127,362
—
127,362
Segment and corporate expenses (income):
Store expenses
67,619
18,469
1,560
87,648
—
87,648
General and administrative
—
—
—
—
15,341
15,341
Impairment of goodwill, intangible and other assets
10,000
35,936
1,124
47,060
—
47,060
Depreciation and amortization
2,711
1,940
23
4,674
3,088
7,762
(Gain) loss on sale or disposal of assets and other
—
(123
)
—
(123
)
384
261
Interest expense
—
402
154
556
5,325
5,881
Interest income
—
(369
)
—
(369
)
(572
)
(941
)
Equity in net income of unconsolidated affiliates
—
—
(1,184
)
(1,184
)
—
(1,184
)
Other (income) expense
—
(309
)
20
(289
)
(52
)
(341
)
Segment contribution (loss)
$
20,421
$
(30,141
)
$
(891
)
$
(10,611
)
Loss before income taxes
$
(10,611
)
$
(23,514
)
$
(34,125
)
Six Months Ended March 31, 2021
(in thousands)
U.S. Pawn
Latin America
Pawn
Other
International
Total
Segments
Corporate
Items
Consolidated
Revenues:
Merchandise sales
$
176,080
$
46,928
$
—
$
223,008
$
—
$
223,008
Jewelry scrapping sales
7,585
5,249
—
12,834
—
12,834
Pawn service charges
99,797
27,128
—
126,925
—
126,925
Other revenues
51
7
249
307
—
307
Total revenues
283,513
79,312
249
363,074
—
363,074
Merchandise cost of goods sold
99,871
30,462
—
130,333
—
130,333
Jewelry scrapping cost of goods sold
5,993
4,610
—
10,603
—
10,603
Other cost of revenues
—
—
—
—
—
Net revenues
177,649
44,240
249
222,138
—
222,138
Segment and corporate expenses (income):
Store expenses
125,749
34,709
—
160,458
—
160,458
General and administrative
—
—
—
—
26,281
26,281
Depreciation and amortization
5,372
3,653
—
9,025
6,636
15,661
Loss on sale or disposal of assets and other
27
—
—
27
63
90
Interest expense
—
—
—
—
10,973
10,973
Interest income
—
(1,335
)
—
(1,335
)
(71
)
(1,406
)
Equity in net income of unconsolidated affiliates
—
—
(1,766
)
(1,766
)
—
(1,766
)
Other (income) expense
—
(370
)
(201
)
(571
)
117
(454
)
Segment contribution
$
46,501
$
7,583
$
2,216
$
56,300
Income (loss) before income taxes
$
56,300
$
(43,999
)
$
12,301
Six Months Ended March 31, 2020
(in thousands)
U.S. Pawn
Latin America
Pawn
Other
International
Total
Segments
Corporate
Items
Consolidated
Revenues:
Merchandise sales
$
197,801
$
58,757
$
—
$
256,558
$
—
$
256,558
Jewelry scrapping sales
15,776
5,630
—
21,406
—
21,406
Pawn service charges
125,790
39,157
—
164,947
—
164,947
Other revenues
67
50
2,686
2,803
—
2,803
Total revenues
339,434
103,594
2,686
445,714
—
445,714
Merchandise cost of goods sold
126,650
43,202
—
169,852
—
169,852
Jewelry scrapping cost of goods sold
12,555
4,816
—
17,371
—
17,371
Other cost of revenues
—
37
1,024
1,061
—
1,061
Net revenues
200,229
55,539
1,662
257,430
—
257,430
Segment and corporate expenses (income):
Store expenses
135,678
38,452
2,793
176,923
—
176,923
General and administrative
—
—
—
—
34,179
34,179
Impairment of goodwill, intangible and other assets
10,000
35,936
1,124
47,060
—
47,060
Depreciation and amortization
5,576
3,829
57
9,462
6,033
15,495
(Gain) loss on sale or disposal of assets and other
—
(95
)
—
(95
)
1,100
1,005
Interest expense
—
430
324
754
10,456
11,210
Interest income
—
(757
)
—
(757
)
(1,027
)
(1,784
)
Equity in net loss of unconsolidated affiliates
—
—
4,713
4,713
—
4,713
Other (income) expense
—
(242
)
19
(223
)
(20
)
(243
)
Segment contribution (loss)
$
48,975
$
(22,014
)
$
(7,368
)
$
19,593
Income (loss) before income taxes
$
19,593
$
(50,721
)
$
(31,128
)
EZCORP, Inc.
STORE COUNT ACTIVITY
(Unaudited)
Three Months Ended March 31, 2021
U.S. Pawn
Latin America
Pawn
Consolidated
As of December 31, 2020
505
502
1,007
New locations opened
—
4
4
As of March 31, 2021
505
506
1,011
Three Months Ended March 31, 2020
U.S. Pawn
Latin America
Pawn
Other
International
Consolidated
As of December 31, 2019
512
484
22
1,018
New locations opened
—
9
—
9
As of March 31, 2020
512
493
22
1,027
Six Months Ended March 31, 2021
U.S. Pawn
Latin America
Pawn
Consolidated
As of September 30, 2020
505
500
1,005
New locations opened
—
6
6
Locations acquired
—
—
—
Locations sold, combined or closed
—
—
—
As of March 31, 2021
505
506
1,011
Six Months Ended March 31, 2020
U.S. Pawn
Latin America
Pawn
Other
International
Consolidated
As of September 30, 2019
512
480
22
1,014
New locations opened
—
13
—
13
Locations acquired
—
—
—
—
Locations sold, combined or closed
—
—
—
—
As of March 31, 2020
512
493
22
1,027
Non-GAAP Financial Information (Unaudited)
In addition to the financial information prepared in conformity with accounting principles generally accepted in the United States ("GAAP"), we provide certain other non-GAAP financial information on a constant currency ("constant currency") and adjusted basis. We use constant currency results to evaluate our Latin America Pawn operations, which are denominated primarily in Mexican pesos and other Latin American currencies. We believe that presentation of constant currency and adjusted results is meaningful and useful in understanding the activities and business metrics of our operations and reflect an additional way of viewing aspects of our business that, when viewed with GAAP results, provide a more complete understanding of factors and trends affecting our business. We provide non-GAAP financial information for informational purposes and to enhance understanding of our GAAP consolidated financial statements. We use this non-GAAP financial information primarily to evaluate and compare operating results across accounting periods.
Readers should consider the information in addition to, but not instead of or superior to, our financial statements prepared in accordance with GAAP. This non-GAAP financial information may be determined or calculated differently by other companies, limiting the usefulness of those measures for comparative purposes.
Constant currency results reported herein are calculated by translating consolidated balance sheet and consolidated statement of operations items denominated in local currency to U.S. dollars using the exchange rate from the prior-year comparable period, as opposed to the current period, in order to exclude the effects of foreign currency rate fluctuations. We used the end-of-period rate for balance sheet items and the average closing daily exchange rate on a monthly basis during the appropriate period for statement of operations items. The end-of-period and approximate average exchange rates for each applicable currency as compared to U.S. dollars as of and for the three and six months ended March 31, 2021 and 2020 were as follows:
March 31,
Three Months Ended
March 31,
Six Months Ended
March 31,
2021
2020
2021
2020
2021
2020
Mexican peso
20.5
23.8
20.3
20.0
20.4
19.6
Guatemalan quetzal
7.6
7.6
7.6
7.5
7.6
7.5
Honduran lempira
23.7
24.4
23.8
24.3
23.9
24.3
Peruvian sol
3.7
3.4
3.6
3.4
3.6
3.3
Our statement of operations constant currency results reflect the monthly exchange rate fluctuations and so are not directly calculable from the above rates. Constant currency results, where presented, also exclude the foreign currency gain or loss.
Miscellaneous Non-GAAP Financial Measures
2021 Q2
2020 Q2
(in millions)
Net income (loss)
$
5.3
$
(40.9
)
Interest expense
5.5
5.9
Interest income
(0.6
)
(0.9
)
Income tax expense
1.5
6.7
Depreciation and amortization
8.1
7.8
EBITDA
$
19.8
$
(21.4
)
Total
Revenues
Net
Revenues
Income
Before Tax
Tax Effect
Net
Income
Diluted EPS
EBITDA
2021 Q2 Reported
$
184.9
$
113.7
$
6.8
$
1.5
$
5.3
$
0.10
$
19.8
Acquisition expenses
—
—
0.2
—
0.2
—
0.2
Non cash interest
—
—
3.4
0.8
2.6
0.05
—
Non-recurring tax expense
—
—
—
(1.4
)
1.4
0.03
—
Constant currency impact
0.6
0.4
—
—
0.1
(0.01
)
—
2021 Q2 Adjusted
$
185.5
$
114.1
$
10.4
$
0.9
$
9.5
$
0.17
$
20.0
Total
Revenues
Net
Revenues
(Loss) Income
Before Tax
Tax Effect
Net (Loss)
Income
Diluted EPS
EBITDA
2020 Q2 Reported
$
223.3
$
127.4
$
(34.1
)
$
6.8
$
(40.9
)
$
(0.74
)
$
(21.4
)
Termination of non-core software project
—
—
0.5
(0.1
)
0.4
0.01
0.5
Lobbying expense
—
—
0.2
—
0.2
—
0.2
Non-recurring tax expense
—
—
—
1.9
1.9
0.03
—
Impairment of goodwill, intangible assets and other
—
—
47.1
(1.7
)
45.4
0.83
47.1
Non cash interest
—
—
3.3
(0.7
)
2.6
0.05
—
Constant currency impact
—
—
(0.3
)
—
(0.3
)
(0.01
)
(0.3
)
2020 Q2 Adjusted
$
223.3
$
127.4
$
16.6
$
7.2
$
9.4
$
0.17
$
26.0
2021 Q2:
U.S. Dollar
Amount
Percentage
Change YOY
(in millions)
Consolidated revenue
$
184.9
(17
)%
Currency exchange rate fluctuations
0.6
Constant currency consolidated revenue
$
185.5
(17
)%
Consolidated net revenue
$
113.7
(11
)%
Currency exchange rate fluctuations
0.4
Constant currency consolidated net revenue
$
114.1
(10
)%
Consolidated net inventory
$
86.2
(50
)%
Currency exchange rate fluctuations
(1.7
)
Constant currency consolidated net inventory
$
84.5
(51
)%
Latin America Pawn net revenue
$
21.5
(17
)%
Currency exchange rate fluctuations
0.4
Constant currency Latin America Pawn net revenue
$
21.9
(15
)%
Latin America Pawn PLO
$
29.9
(22
)%
Currency exchange rate fluctuations
(2.8
)
Constant currency Latin America Pawn PLO
$
27.1
(29
)%
Latin America Pawn PSC revenues
$
13.9
(25
)%
Currency exchange rate fluctuations
0.2
Constant currency Latin America Pawn PSC revenues
$
14.1
(24
)%
Latin America Pawn merchandise sales
$
21.4
(22
)%
Currency exchange rate fluctuations
0.4
Constant currency Latin America Pawn merchandise sales
$
21.8
(20
)%
Latin America Pawn segment profit before tax
$
2.6
109
%
Currency exchange rate fluctuations
0.1
Constant currency Latin America Pawn segment profit before tax
$
2.7
(54
)%
View source version on businesswire.com: https://www.businesswire.com/news/home/20210505006089/en/
Email: Investor_Relations@ezcorp.com Phone: (512) 314-2220
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