Cash America (CSH) Trims FY13 Outlook, Guides Q2 EPS Below
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Price: $25.63 --0%
Financial Fact:
Depreciation and amortization: 13.03M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Financial Fact:
Depreciation and amortization: 13.03M
Today's EPS Names:
FRSB, DGICA, UXIN, More
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Cash America International, Inc. (NYSE: CSH) offered the following outlook:
At the outset of the second quarter the Company expects loan balances to begin to recover due to seasonal factors. The rate of this increase and the timing has a significant influence on second quarter results and the delay in distribution of tax refunds to our customers is expected to prolong the recovery of consumer loan balances and pawn loan balances. Other elements expected to affect the growth in revenue in future periods include the potential impact of the regulatory governance of loan products, the post-reorganization continued development of the Company’s Mexico-based pawn operations, the prevailing market price of gold and the development and expansion of the Company’s consumer loan products in its e-commerce segment.
"Based on its views on the preceding factors, management expects that the second quarter 2013 earnings per share will be between 91 cents and 96 cents per share compared to 94 cents per share in the second quarter 2012. At this time, based primarily on the recent decrease in the spot price of gold, management is lowering its previously reported expectations for its fiscal year 2013 earnings per share to a range of between $4.70 and $5.00. This guidance range compares to actual full year 2012 earnings per share of $3.42, which includes one-time events of $25.4 million (81 cents per share) related to Mexico reorganization charges, $8.4 million (27 cents per share) related to the voluntary Ohio customer refund expense, and $2.5 million (7 cents per share) related to expenses associated with the withdrawn proposed initial public offering of the Company’s wholly-owned subsidiary Enova International, Inc.
The Street is looking for Q2 EPS of $1.05 and FY13 EPS of $4.98.
At the outset of the second quarter the Company expects loan balances to begin to recover due to seasonal factors. The rate of this increase and the timing has a significant influence on second quarter results and the delay in distribution of tax refunds to our customers is expected to prolong the recovery of consumer loan balances and pawn loan balances. Other elements expected to affect the growth in revenue in future periods include the potential impact of the regulatory governance of loan products, the post-reorganization continued development of the Company’s Mexico-based pawn operations, the prevailing market price of gold and the development and expansion of the Company’s consumer loan products in its e-commerce segment.
"Based on its views on the preceding factors, management expects that the second quarter 2013 earnings per share will be between 91 cents and 96 cents per share compared to 94 cents per share in the second quarter 2012. At this time, based primarily on the recent decrease in the spot price of gold, management is lowering its previously reported expectations for its fiscal year 2013 earnings per share to a range of between $4.70 and $5.00. This guidance range compares to actual full year 2012 earnings per share of $3.42, which includes one-time events of $25.4 million (81 cents per share) related to Mexico reorganization charges, $8.4 million (27 cents per share) related to the voluntary Ohio customer refund expense, and $2.5 million (7 cents per share) related to expenses associated with the withdrawn proposed initial public offering of the Company’s wholly-owned subsidiary Enova International, Inc.
The Street is looking for Q2 EPS of $1.05 and FY13 EPS of $4.98.
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