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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Western Union Company | NYSE:WU | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.01 | -7.79% | 11.96 | 12.27 | 11.85 | 12.05 | 15,136,851 | 01:00:00 |
By Kristin Jones
EZCORP Inc.'s (EZPW) fiscal fourth-quarter profit rose 6.1% as the pawn shop operator posted strong revenue growth from merchandise sales and service charges.
But EZCORP said that weakness in the gold market and regulatory pressures in Texas would drag down earnings. In after-hours trading, shares dropped 7% to $19.30. The stock is down 21% so far this year.
For the current year, the company expects per-share earnings of $2.55 to $2.80, lower than the $3.22 estimate from analysts polled by Thomson Reuters. For the fiscal first quarter, EZCORP expects per-share earnings of 55 cents to 60 cents, while analysts projected a profit of 82 cents a share.
EZCORP operates more than 1,200 pawn shops and quick-cash loan locations in the U.S., Mexico and Canada. The company has consistently reported stronger bottom-line results and revenue growth.
The company also said Tuesday that it has inked an agreement with Western Union Co. (WU) that will give customers access to Western Union's money transfer, money order and bill payment services at 900 EZCORP-operated stores.
For the quarter ended Sept. 30, EZCORP reported a profit of $38.6 million, or 75 cents a share, up from a year-earlier profit of $36.4 million, or 72 cents a share. Revenue rose 10% to $258.4 million. Analysts were expecting per-share earnings of 75 cents on revenue of $257 million.
Merchandise sales, the biggest top line contributor, grew 14% to $77.6 million, while pawn service charges rose 13%. Jewelry scrapping sales fell 10%, and revenue from consumer loan fees rose 27%.
Write to Kristin Jones at kristin.jones@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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