EZCORP, Inc. (NASDAQ:EZPW) Q2 2020 Earnings Conference Call - Final Transcript

May 12, 2020 • 08:00 am ET


EZCORP, Inc. (NASDAQ:EZPW) Q2 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good afternoon, ladies and gentlemen, and Welcome to the EZCORP Second-Quarter of Fiscal 2020 Earnings Conference Call. As a reminder, this call may be recorded. I would now like to turn the conference over to Michael Keim, investor relations. Please go ahead. Michael.

Michael Keim

Thank you, and good morning, everyone. During our prepared remarks, we will be referring to slides, which are available for viewing or download from our website at investors.ezcorp.com. Before we begin, I would like to remind everyone that this conference call, as well as the presentation slides, contain certain forward-looking statements regarding the company's expected operating and financial performance for future periods. These statements are based on the company's current expectations.

Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of risks or other factors that are disclosed in our annual, quarterly and other reports filed with the Securities and Exchange Commission. And as noted in the presentation materials and unless otherwise identified, results are presented on an adjusted basis to remove the effect of foreign currency fluctuations and other discrete items. Now I'd like to turn the call over to Mr. Stuart Grimshaw.


Stuart Grimshaw

Thanks, Michael, and good morning, everyone. As we do this presentation remotely, it reminds us that we are in unprecedented territory. I hope that all of you and your families are safe and healthy. These are difficult times for our people, our customers, the communities we are in, and for all of us, as we try to understand and manage the impacts of the COVID-19 pandemic.

I would like to express my deepest anticipation to the healthcare professionals, first responders, and other essential workers, who are doing their job every day to keep all of us safe. I would also like to thank the members of the EZCORP family who have responded to this crisis with admirable professionalism and empathy, providing unbelievable service to our customers in the most trying of times. Since mid-March, the focus of the company has been on serving and supporting our people and customers as they try to make sense of this very unsettling period. We provide critical and unique services to our customers, and our operations are considered essential services in nearly all states.

At this time, we have 99% of our stores open in the US and Mexico with many of our Lat Am stores operating under reduced hours, restricted operating activities, or environments with no or limited public transportation. All stores are adhering to the CDC sanitary guidelines, including the provision of gloves and masks, as well as all US stores having thermal thermometers for the safety of our team members and customers.

With an unemployment rate just sitting under 15%, something completely unimaginable some three months ago, we know that our customers are facing challenging times. It is through these challenging times that we're here to help them when other institutions will not. As shown on Slide 4, we're committed to maintaining