EZCORP, Inc. (NASDAQ:EZPW) Q3 2024 Earnings Conference Call August 1, 2024 9:00 AM ET

Company Participants

Sean Mansouri – Elevate Investor Relations
Lachie Given – Chief Executive Officer
Tim Jugmans – Chief Financial Officer

Conference Call Participants

Brian McNamara – Canaccord Genuity

Operator

Good morning, ladies and gentlemen. Welcome to the EZCORP Third Fiscal Quarter 2024 Earnings Call. At this time all participants are in a listen-only mode. [Operator Instructions] As a reminder, this call may be recorded.

I’d now like to turn the conference over to Sean Mansouri, the company’s Investor Relations adviser with Elevate IR. Please go ahead, Sean.

Sean Mansouri

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.ezcorp.com.

Before we begin, I’d like to remind everyone that this conference call as well as the presentation slides contain certain forward-looking statements regarding the company’s expected operating and financial performance for future periods. These statements are based on the company’s current expectations. Actual results for future periods may differ materially from those expressed due to a number of risks or other factors that are discussed in our annual, quarterly and other reports filed with the Securities and Exchange Commission. As noted in our presentation materials, and unless otherwise identified, results are presented on an adjusted basis to remove the effect of foreign currency fluctuations and other discrete items.

Joining us on the call today are EZCORP’s Chief Executive Officer, Lachie Given; and Tim Jugmans, Chief Financial Officer.

I’ll now turn the call over to Lachie Given. Lachie?

Lachie Given

Thanks, Sean, and good morning, everyone. We’re pleased to report that EZCORP continued to generate impressive operating and financial results for the third quarter of fiscal 2024. Total revenue increased 9% to $280 million, which was a record for Q3. And PLO increased 15% to $265 million, the highest level in company history. Adjusted net income was up 14% from a bottom line perspective.

Beginning on Slide 3. We continue to be a global leader in pawn broking and pre-owned and recycled retail. We operate 1,258 stores in the U.S. and Latin America, having added another 12 stores this quarter. We’re seeing growing demand for our pawn broking services to meet short-term cash needs as economic headwinds like rising living costs and limited credit options are impacting our customers. Additionally, consumers are increasingly value-conscious, turning to pre-owned merchandise for its affordability and eco-friendly benefits. We are continuously innovating and providing exceptional customer service to address these evolving needs.