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Ezcorp Inc (EZPW) SEC Filing 10-Q Quarterly Report for the period ending Friday, December 31, 2021

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EZPW Quarterly Reports

Ezcorp Inc

CIK: 876523 Ticker: EZPW

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EZCORP Reports First Quarter 2022 Results
PLO Up 19%; Revenue up 24%; Net Income up 266%
Austin, Texas (February 2, 2022) —
EZCORP, Inc. (NASDAQ: EZPW), a leading provider of pawn transactions in the United States and Latin America, today announced results for its first quarter ended December 31, 2021.
All amounts in this release are in conformity with U.S. generally accepted accounting principles ("GAAP") unless otherwise noted. Comparisons shown in this release are to the same period in the prior year unless otherwise noted.
FIRST QUARTER HIGHLIGHTS
Pawn loans outstanding (PLO) was up 19%.
Total revenue increased 24%, and net revenue increased 22%.
Merchandise sales gross profit margin remains high at 40%.
Diluted earnings per share of $0.21 were up significantly from $0.08. On an adjusted basis1, diluted earnings per share were $0.22, compared to diluted earnings per share of $0.13.
Return on earning assets (ROEA) remains strong at 177%.
CEO COMMENTARY AND OUTLOOK
Co-Interim Chief Executive Officer Lachie Given stated, “It was a very strong first quarter, as our passionate and productive team continued to execute on the plan we put in place at the end of fiscal 2020. These initiatives are driving better returns and improved financial metrics. PLO continues to recover, getting closer to pre-pandemic levels, and margins remain strong as our team has adopted the changes we implemented 18 months ago to improve inventory turns and reduce aged merchandise.
“In the first quarter we invested in a company with interests in 20 pawn stores primarily in the Caribbean with plans for further expansion. Our acquisition pipeline remains robust and we will continue to look for opportunities to diversify into new pawn markets.
“We are truly proud to provide a unique and essential service to our customers, that by its very nature contributes to the circular economy by extending the useful life of items and reducing waste. I am very excited to continue working with this team as we go forward to collectively grow the business and increase value for our shareholders,” concluded Given.
Co-Interim Chief Executive Officer Blair Powell said, “In my 30 plus years at EZCORP I have never before seen the level of enthusiasm and pride throughout the organization. Our team has thoroughly embraced our operating themes of People, Pawn and Passion. At every level the focus is on looking for ways to be more efficient and cost effective and to provide the optimal customer experience. Our refocused efforts continue to deliver tangible results, as we have seen our store level operating metrics continue to improve.
“Improving the customer experience is essential to our mission. The launch of our points-based loyalty program incentivizes customers to transact with us and has performed better than expected in the first quarter. We continue to enhance our online payment options and roll out our online showcase in selected markets for customers to view inventory. Our team members and customers drive our success, and we are laser focused on doing everything we can to optimize the customer and team member experience throughout the company,” concluded Powell.



The following information was filed by Ezcorp Inc (EZPW) on Wednesday, February 2, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ezcorp Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
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Condensed Consolidated Statements Of Cash Flows
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Acquisitions - Schedule Of Purchase Price Allocation (Details)
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Goodwill (Tables)
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Leases - Additional Information (Details)
Leases - Lease Cost (Details)
Leases - Lessee Assets And Liabilities (Details)
Leases - Operating Lease Maturity (Details)
Leases - Supplemental Cash Flow Information (Details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Policies)
Organization And Summary Of Significant Accounting Policies (Tables)
Organization And Summary Of Significant Accounting Policies - Impact Of The Adoption (Details)
Organization And Summary Of Significant Accounting Policies - Narrative (Details)
Segment Information
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Segment Information (Tables)
Share-Based Compensation
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Share-Based Compensation - Additional Information (Details)
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Ezcorp Inc provided additional information to their SEC Filing as exhibits

Ticker: EZPW
CIK: 876523
Form Type: 10-Q Quarterly Report
Accession Number: 0000876523-22-000019
Submitted to the SEC: Wed Feb 02 2022 4:05:26 PM EST
Accepted by the SEC: Wed Feb 02 2022
Period: Friday, December 31, 2021
Industry: Retail Miscellaneous Retail

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