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EZCorp(EZPW Quote) boosted fourth-quarter earnings expectations, due in part to lower levels of bad customer debt.
The low-income credit provider said Thursday that it now expects to earn 61 cents to 64 cents a share, up from its prior projection of 43 cents to 46 cents a share. A Thomson First Call analyst survey had expected the company to earn 45 cents a share.
EZCorp said that during the quarter it realized a stronger-than-expected signature loan contribution (primarily due to lower levels of bad debt), a about 4 cents a share from several nonrecurring items, and a lower-than-expected earnings drag from new store openings.
The company opened 46 stores during the quarter, with most of these opening late in the quarter. ...
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