Cash America to host investor/analyst day in Chicago
Fort Worth-based payday lender and pawn shop operator Cash America International Inc. will host a four-hour investor/analyst event in Chicago on Nov. 3, beginning at 8 a.m. CT.
The session, which will be Webcast live on the company’s Web site located at www.cashamerica.com, will include executive management presentations to discuss corporate strategy and performance and a question and answer period.
The Webcast also is being distributed through the Thomson StreetEvents Network to institutional investors at www.streetevents.com and to individual investors at www.earnings.com. The Webcast will be archived on the company’s Web site for 90 days after the event.
On Oct. 22, Cash America announced that rising loan demand and sale of merchandise helped boost its third-quarter 2009 earnings 19 percent to $22.5 million, or 73 cents per share, compared with $18.9 million, or 63 cents per share, a year ago.
Revenue rose about 10 percent to $276.1 million.
The results edged Wall Street expectations by a penny. Analysts were looking for a profit of 72 cents per share, before items.
The company cut the higher end of its 2009 profit estimates to $3.08 per share, from a previous forecast of $3 to $3.15 a share, but said it sees a strong 2010 with earnings in the range of $3.45 to $3.60 a share.
Analysts expect 2010 earnings of $3.35 a share, before items, according to Thomson Reuters.
“We expect the U.S. pawn business to continue its growth trend in 2010, as we will continue to augment any softness in retail demand with sale of refined gold,” said Daniel R. Feehan, president and chief executive, in a conference call with analysts.
Cash America, which operates more than 1,000 locations in the U.S. and Mexico, also is looking at acquisitions in Central and South America to expand its pawn business.
bdillard@bizpress.net
