Q3 2026 EZCORP Inc Earnings Call Transcript

Aug 6, 2026 / 01:00 PM GMT

Transcript 8-K10-Q

Key Points

Positve

Adjusted EBITDA surged 48% to $65.6 million, with adjusted diluted EPS up 47% to $0.47, marking one of the strongest quarters in company history.
Core pawn operating metrics were exceptionally strong, with core pawn revenues up 24% and core pawn gross profit up 28%, demonstrating robust underlying business performance.
PLO reached a record $382 million, up 31%, driven by higher average loan sizes and new store additions, indicating strong consumer demand for cash.
Latin America delivered standout results with PLO up 33%, core pawn gross profit up 31%, and segment EBITDA up 40%, driven by strong execution and market leadership expansion.
The company successfully acquired the remaining interest in SMG, now owning 100%, and completed the acquisition of 33 stores in Guatemala, expanding its market presence.
Merchandise margins expanded significantly, with US margins up 130 basis points to 40% and Latin America margins up 490 basis points to 36%, reflecting improved pricing and inventory quality.

Negative

Scrap sales and margins declined sequentially as gold prices stabilized, with scrap gross margin falling to 26% from 38% in the prior quarter, and further normalization towards 15-20% is expected.
Consolidated scrap margin is expected to continue normalizing to long-term historical levels if gold prices do not increase, which could reduce future earnings growth.
Store expenses in Latin America increased 27% in total and 17% on a same-store basis, primarily due to labor costs and minimum wage increases, pressuring margins.
Cash declined year-over-year due to the retirement of SMG's third-party debt of $134.2 million and cash deployed into acquisitions, reducing liquidity.
The company faces integration risks with SMG, including the need to migrate to new systems (point of sale and Workday) and implement cultural changes, which could take up to a year.
PLO yield is compressing gradually as average loan sizes rise, since larger loans carry lower monthly rates in states such as Texas, potentially impacting future revenue growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EZPW.OQ - EZCORP Inc
Q3 2026 EZCORP Inc Earnings Call
Aug 06, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and fiscal 2026 earnings call.

At this time, all participants are in listen-only mode.

Later, we will conduct a question-and-answer session, and instructions will follow at that time.

As a reminder, this call may be recorded.

I now like to turn the conference over to Shawn Mann Story, the company's investor relations advisor with Elevate IR.

Please go ahead, Sean.

Thank you and good morning, everyone.

During our prepared remarks, we will refer to slides which are available for viewing or download from our website at investors.easycorp.com.

Before we begin, I'd like to remind everyone that this conference call, as well as the presentation slides.

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