EZCORP Inc (NASDAQ: EZPW) shares surged 5.96% in the after-hours trading session on Wednesday, following the release of the company's better-than-expected first-quarter earnings results.
The pawn shop operator reported adjusted earnings per share of $0.42 for the quarter, outpacing analysts' consensus estimate of $0.37. The strong earnings performance was driven by higher profitability, despite a slight miss on the revenue front.
EZCORP's first-quarter revenue came in at $320.2 million, narrowly missing the consensus estimate of $322.8 million. However, the company's adjusted EBITDA of $53 million and pretax profit of $41.4 million signaled improved operational efficiency and cost control measures.