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FirstCash issues guidance for FY'17

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.