FirstCash Inc. issued guidance for full year 2017 along with reporting earnings for the fourth quarter of 2016.
Adjusted net income is expected to be about $118 million to $125 million, and adjusted EPS is expected at $2.45 to $2.60. The earnings guidance implies adjusted EBITDA of about $257 million to $268 million for 2017.
The 2017 guidance is tempered by the continuing volatility and drop in the Mexican peso's value relative to the U.S. dollar. The expected year-over-year EPS drag is about 17 cents to 21 cents. The company expects a 1-point change in the exchange rate to impact annual EPS by about 6 cents to 8 cents for 2017.
FirstCash reported net income of $36.7 million, or 76 cents per share, for the fourth quarter of 2016, compared with $19.4 million, or 69 cents per share, in the year-ago period.
Adjusted net income for the fourth quarter was $37.4 million, or 77 cents per share, up from $20.6 million, or 73 cents per share, in the fourth quarter of 2015.
The S&P Capital IQ consensus normalized EPS estimate for the fourth quarter was 75 cents.