FCFS - FirstCash Navigating A Sluggish Latin American Recovery And Uncertainties Around A Major New Acquisition
- FirstCash's core pawn operations saw much better performance on the retail side and nice improvement in U.S. pawn loans, but LatAm pawn lending is recovering more slowly.
- AFF gives FirstCash new opportunities to address their core client base, but the point-of-sale financing space is attracting a lot more competition and FirstCash's expertise here is unproven.
- High single-digit revenue and FCF growth can support a double-digit long-term annualized total return, and these businesses are capable of it, but there are near-term worries about AFF and Mexico.
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FirstCash Navigating A Sluggish Latin American Recovery And Uncertainties Around A Major New Acquisition