EZCORP Inc

EZCORP reported third-quarter fiscal 2026 results with adjusted EBITDA climbing 48% year over year to $65.6 million and adjusted diluted earnings per share rising 47% to $0.47. Total revenue increased 31% to $408.4 million, driven primarily by core pawn operations, where revenue rose 24% and gross profit grew 28%. Pawn loans outstanding reached a record $382 million, up 31%, while consolidated merchandise margin expanded 190 basis points to 38%. The company raised its ownership in SMG to 100% during and after the quarter and plans to integrate its systems while pursuing further Latin American acquisitions and de novo store expansion.

EZCORP, Carriage Services, and York Water are highlighted as businesses that generate steady demand regardless of economic conditions, making them candidates to hold even during a stock market sell-off. EZCORP operates pawn shops and has expanded to roughly 1,500 stores in 16 countries after acquiring the 105-store Founders One chain, while also launching an online car title loan platform in Texas; its stock has climbed about 150% over the past year, partly driven by record gold prices above $5,000 an ounce that boosted scrap margins from 22% to 38%. Carriage Services owns funeral homes and cemeteries, recently entered the Knoxville market with an acquisition, and secured a $60 million credit facility for further deals, though it carries meaningful debt. York Water, which has paid a dividend every year since 1816, raised roughly $48 million in a stock offering to fund capital projects and acquisitions of small water and wastewater systems in Pennsylvania, but as a regulated utility its returns are capped and shares can be sensitive to interest rates.

EZCORP, Inc. is demonstrating a strengthening multi-geography growth platform driven by core pawn expansion, acquisition integration, and improving digital and pricing capabilities. In the latest quarter, the company delivered exceptional results with revenue and EPS significantly above the prior year, supported by record pawn loan outstanding growth and elevated gold prices. Management highlighted that U.S. same-store pawn loan outstanding growth and Latin American expansion remained resilient, signaling that earnings quality extends beyond temporary scrap tailwinds. EZCORP is also advancing higher-value optionality through luxury pawn concepts and digital customer acquisition tools, including loyalty penetration and online inventory expansion. The key investor focus is whether the company can sustain core pawn growth, successfully integrate acquisitions, and maintain margin discipline as gold tailwinds fade.

Wasatch Global Investors highlighted EZCORP as a top contributor to its Micro-Cap Fund in the first quarter of 2026. The pawn-services provider has benefited from rising demand as consumers face stress from high prices for food, fuel, and housing, and it has also seen higher earnings from jewelry scrapping amid elevated gold prices. The fund trimmed its position on strength after gold prices eased off recent highs during the quarter. EZCORP shares gained 139.40% over the past 52 weeks and closed at $31.72 on June 18, 2026, with a market capitalization of $1.95 billion.