FirstCash Holdings, Inc. Announces Executive Employment Agreement Amendments
Fort Worth, Texas – March 3, 2025 – FirstCash Holdings, Inc. (Nasdaq: FCFS), a leading international operator of pawn stores and a provider of specialty financial services, announced today that it has amended the employment agreements of its top executives, extending their terms and adjusting annual base salaries.

Key Updates to Executive Employment Agreements
The amended agreements, effective January 1, 2025, extend the employment terms for the following executives until December 31, 2026, with automatic one-year extensions thereafter:

Rick L. Wessel – Chief Executive Officer
T. Brent Stuart – President & Chief Operating Officer
R. Douglas Orr – Executive VP & Chief Financial Officer
Howard F. Hambleton – President of AFF
Raul Ramos – SVP, Latin American Operations
Updated Executive Salaries for 2025
The annual base salaries, subject to further review and potential increases, are now set as follows:

Rick L. Wessel – $1,452,946
T. Brent Stuart – $897,592
R. Douglas Orr – $807,773
Howard F. Hambleton – $681,408
Raul Ramos – $549,000
No Other Changes to Agreements
Apart from the extended terms and salary adjustments, no other modifications were made to the executives’ existing agreements, which remain in full effect.

About FirstCash Holdings, Inc.
FirstCash Holdings, Inc. operates over 2,800 retail pawn stores in the U.S. and Latin America, offering pawn loans, retail merchandise sales, and specialty financial services. The company also operates American First Finance (AFF), a technology-driven retail finance platform.

FirstCash Holdings, Inc. (Nasdaq: FCFS) reported record financial results for the fourth quarter and full year of 2024, driven by strong demand in its pawn operations. The company also declared a quarterly cash dividend of $0.38 per share, payable on February 28, 2025.

CEO Rick Wessel highlighted that same-store pawn receivables increased by 12% in both the U.S. and Latin America on a local currency basis. This marked the sixth consecutive quarter of double-digit growth in the U.S. The company added 16 pawn stores in the fourth quarter, including 10 through acquisitions and six new openings, bringing the total for 2024 to 99 store additions. FirstCash now operates 3,026 locations.

Fourth-quarter revenue increased to $884 million, up 4% on a GAAP basis and 7% in constant currency. Full-year revenue grew 8% to a record $3.4 billion. Net income for the quarter reached $83.5 million, up from $69.6 million in 2023, with diluted EPS rising 22% to $1.86. Adjusted net income was $95.4 million, with adjusted EPS at $2.12. Full-year net income rose 18% to $258.8 million, while adjusted net income reached $302.7 million, with adjusted EPS of $6.70.

The U.S. pawn segment generated $112 million in pre-tax operating income for the quarter, up 14%, and $397 million for the year, up 18%. Pawn receivables increased 15%, driven by a 12% same-store gain. Retail merchandise sales rose 10% in the fourth quarter and 13% for the year. Retail margins improved to 43% in Q4.

The Latin American pawn segment saw pre-tax income decline by 4% in U.S. dollars but increase by 7% in constant currency. Same-store pawn receivables grew 12% on a local currency basis. Retail merchandise sales rose 7% in constant currency for the quarter, while full-year pawn loan fees increased 7% in local currency.

The American First Finance (AFF) retail POS payment solutions segment generated $39 million in pre-tax income for Q4, down 10% due to softness in the furniture sector. Full-year segment income was $129 million, down 3%. AFF's transaction volume increased 4% in Q4 and 5% for the year, with strong growth outside the furniture category.

FirstCash generated $540 million in operating cash flow for the year, up 30%, with adjusted free cash flow of $262 million. Investments included $76 million in pawn acquisitions and $86 million in real estate purchases.

Looking ahead to 2025, FirstCash expects strong growth in pawn operations, which are projected to contribute 85% of total segment-level pre-tax income. Same-store pawn loans in the U.S. began the year up 12%. The company anticipates continued store expansion and acquisitions. AFF expects modest growth despite challenges in the furniture sector, with non-furniture originations projected to rise 20-25%.

FirstCash remains committed to shareholder returns, with a 2025 outlook focused on continued pawn expansion and strong cash flow. The board declared a $0.38 per share quarterly dividend, and $115 million remains available under its share repurchase program.