EZCORP (EZPW) Q3 2026 earnings summary

Executive summary

• Delivered one of the strongest quarters in company history, with significant growth in core pawn operations and robust performance across all regions.

• Achieved consolidated net income of $38.5 million for the quarter, up 45% year-over-year, and adjusted EBITDA rose 48% to $65.6 million.

• Total revenues for the quarter were $418.7 million, a 35% increase year-over-year, with core pawn revenues up 24% and gross profit up 34%.

• Diluted EPS increased 47% to $0.47; adjusted EPS up 47% to $0.47.

• Completed the acquisition of Founders One, LLC and SMG, expanding the store base and geographic footprint.

Financial highlights

• Gross profit for the quarter rose 44% to $246.2 million; merchandise margin expanded to 38%.

• Pawn loans outstanding (PLO) reached a record $387.2 million, up 33% year-over-year.

• Pawn service charges (PSC) rose 32% due to higher average PLO and more stores.

• Scrap sales were $55.7 million, up $28.8 million year-over-year, with gross margin at 26%.

• Merchandise sales gross margin improved to 38%; jewelry scrap sales surged 110%.

Outlook and guidance

• Management expects continued strong performance, citing robust operating and financial position entering the final quarter.

• Expectation for scrap margins to normalize to historical levels of 15%-20% if gold prices remain stable.

• Ongoing focus on growing PLO, improving inventory efficiency, building de novos, integrating acquisitions, and managing expenses.

• Continued strong customer demand and operational leverage expected to support future growth.

• Significant growth opportunities anticipated from full integration of SMG and expansion in Latin America.