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• Content META

  Title	EZCORP : EZPW Q4 2024 Earnings Deck Final
  ID	4135302
  External ID	7300197799
  Author	Unknown
  Published Date	Nov. 13, 2024, 10:24 p.m.
  Summary	November 13, 2024 at 11:20 pm EST FOURTH QUARTER AND FULL YEAR FISCAL 2024 EARNINGS NOVEMBER 2024 PRELIMINARY STATEMENTS NASDAQ: EZPW FORWARD LOOKING STATEMENTS This presentation contains cer
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  URL	https://www.marketscreener.com/quote/stock/ezcorp-inc-9242/news/ezcorp-ezpw-q4-2024-earnings-deck-final-48357783/
  Sentiment	Negative: 0.07128    Neutral: 0.90958    Positive: 0.01914
  Relevance	0.03687

• Content Details

  Content ID	2412782
  Key	1ff6fa6b-9083-455d-b546-809e2c08c5c2
  Content	November 13, 2024 at 11:20 pm EST FOURTH QUARTER AND FULL YEAR FISCAL 2024 EARNINGS NOVEMBER 2024 PRELIMINARY STATEMENTS NASDAQ: EZPW FORWARD LOOKING STATEMENTS This presentation contains certain forward-looking statements. 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, that address activities or results that the company plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future 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 and current or future litigation. 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. OTHER AVAILABLE INFORMATION This information should be read in conjunction with, and not in lieu of, the company's annual, quarterly and other reports filed with the Securities and Exchange Commission. Those reports contain important information about the company's business and performance, including financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), as well as a description of the important risk factors that may materially and adversely affect our business, financial condition or results of operations. ADJUSTED INFORMATION Unless otherwise specified, all amounts in this presentation reflect certain non-GAAP adjustments for various discrete items and constant currency. FY24 results are presented in constant currency using FY23 rates. Prior years use actual foreign exchange rates. For a discussion of the comparable GAAP amounts, see "EZCORP GAAP Results" and "GAAP to Non-GAAP Reconciliation" in the Appendix. COMPARISONS All comparisons in this presentation are relative to the same period in the prior year unless otherwise stated. In addition, percentages are calculated from the underlying numbers in thousands and, as a result, may not agree to the percentages when calculated from numbers in millions. All market comparisons are based on available information from similar publicly traded companies. DEFINED TERMS See Appendix for definition of terms and acronyms used in this presentation. COMPANY OVERVIEW NASDAQ: EZPW LEADER IN PAWN AND PRE-OWNED AND RECYCLED RETAIL Formed in 1989, EZCORP has grown into a leading provider of pawn transactions and seller of pre-owned and recycled merchandise in the United States and Latin America. We increase reach and access to financial services through a broad network of neighborhood retail locations, and promote the circular economy by recycling pre-owned merchandise and jewelry. We are dedicated to building shareholder value by satisfying the short-term cash needs of our customers, focusing on an industry- leading experience that is fueled by continuous innovation. 1,279 STORES AND OVER 8,000 TEAM MEMBERS U.S. MEXICO Q4 FY24 STORE GROWTH AND BALANCE SHEET HIGHLIGHTS ($ millions, except for store count) STORE COUNT EARNING ASSETS CASH BALANCE (GAAP) Opened 20 de novo stores in LatAm, comprised of, 11 stores in Mexico, 8 stores in Guatemala and 1 store in Honduras Acquired 1 store in the U.S. Record-setting PLO balance of $279.2M, up 14%, leading to a 12% increase in PSC PLO/Inventory ratio remains healthy at 1.4x $170.5M cash balance, down from $220.6M, due to convertible debt payoff, increase in earning assets, acquisitions and investments, and share repurchases, partially offset by cash from operating activities. Specifically we: Paid the principal balance of $34.4M in cash and issued 77,328 shares in relation to the convertible notes with a maturity date in July 2024 Purchased $3.0M of shares in Q4 Source: Current year earning assets figures adjusted for constant currency. See Appendix for reconciliations. Q4 FY24 FINANCIAL HIGHLIGHTS ($ millions, except per share amounts) TOTAL REVENUES Record Q4 total revenues of $300.9M, up 11%, driven by higher PSC and sales Merchandise sales of $165.5M, up 9%; same-store sales, up 8% Gross profit of $178.9M, up 12%, driven by PSC and sales gross profit EBITDA EBITDA of $36.7M, up 15% EBITDA margin of 12%, up 45 bps PLO Strong consumer demand and improved lending models continue to propel PLO, resulting in a record balance of $279.2M, up 14% PSC of $117.2M, up 12% DILUTED EPS • Diluted EPS of $0.26, up 13% Q4 FY24 BUSINESS STRATEGY HIGHLIGHTS Progression towards our Strategic Goals S T R E N G T H E N T H E C O R E Grew LatAm gross profit by 20% through improvements to automated pricing and loan guidance and enhanced focus on customer service Continued gross profit growth in the U.S. by consistent focus on developing our people, serving our customers, and executing on pawn fundamentals Continued to improve store systems and processes to increase speed of service T E A M M E M B E R S Refined scheduling processes in LatAm to strengthen work-life balance Launched comprehensive training on the structure of FY25 incentive programs, ensuring team members understand earning potential and performance criteria Strengthened our talent and succession tools to ensure EZCORP is best equipped to identify, develop, and retain top talent C U S T O M E R F O C U S Grew EZ+ Rewards members to 5.4M globally, up 44% Increased transacting customers by 3%, with transacting EZ+ members up 9%, comprising 76% of total Increased visits to websites to 1.7M, up 23%, enabled by direct-to-site and non-paid search engine visitation Maintained a high level of customer service evidenced by Google Review rating of 4.7+ (out of 5) across all geographies I N N O V A T E & G R O W Opened 20 de-novo stores in LatAm Acquired 1 store in Florida Collected $24.2M in U.S. online payments, up $6.2M Increased adoption of MX online payments with 13% of extensions and layaways now online Grew Max Pawn luxury e-commerce sales by 6x, capturing demand for affordable luxury, driven by eBay sales Implemented EZ+ Rewards changes in July to align global benefits, grow email and SMS opt-ins, and improve overall program profitability FINANCIAL HIGHLIGHTS Q4 FY24 FINANCIAL RESULTS - CONSOLIDATED ($ millions) Pawn Loans Outstanding PLO balance up 14%, 13% on a same-store basis, due to improved operational performance and continued strong pawn demand Pawn Service Charges FY23 FY24 PSC up 12%, primarily driven by same-store PLO growth Inventory Inventory increased 18%, aligned with PLO increase Inventory turnover decreased to 2.6x, from 2.7x Aged GM increased to 1.7% ($1.4M) of total GM inventory Merchandise Sales Merchandise sales up 9%, 8% on a same-store basis Merchandise Margin Merchandise sales gross profit up 8%, due to increased sales Margins decreased by 100 basis points, staying within our target range EBITDA EBITDA improved $4.8M, up 15%, driven by higher PSC, offset by a 10% increase in expenses EBITDA margin 12%, up 45 bps Q4 FY24 U.S. PAWN SEGMENT ($ millions) Revenues Revenues Q4 YTD • Total revenues increased $17.5M or 9% Earning Assets • Earning assets increased 10%, driven by PLO increase of 12% and inventory increase of 8% Q4 FY24 U.S. PAWN SEGMENT 542 stores in 19 states Store Count Average Loan Size (GAAP) Acquired 1 store in the quarter Average loan size up 9%, driven primarily by increased gold price EZCORP corporate headquarters located in Austin, Texas Jewelry composition up 60 basis points, due to increased gold price General Merchandise composition up 20 basis points, driven by sporting goods, electronics and tools Attachments Original document Permalink Disclaimer EZCORP Inc. published this content on November 14, 2024 , and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 14, 2024 at
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