What happened Shares of EZCORP (NASDAQ: EZPW) jumped 10% on Friday following the pawn shop operator's quarterly earnings release. Results were largely in line with expectations, but the company did announce a new $60 million share repurchase program. So what EZCORP has been down on its luck of late, with shares down more than 40% in the last six months heading into earnings, in part due to corporate governance concerns. In September, EZCORP overhauled its board of directors, naming a new executive chairman, who, according to analysts, has a history of lucrative outside consulting relationships with the company. Image source: Getty Images. After markets closed Thursday, the company reported fiscal fourth-quarter adjusted earnings of $0.19 per share on revenue of $214 million, in line with estimates. Sales were up 4% year over year on the strength of higher pawn loans, service charges, and merchandise sales. CEO Stuart Grimshaw said in a statement that growth came despite headwinds "including newly introduced social welfare programs in Mexico reducing customers' current need for pawn loans, technology system issues resolved by mid-July, and other investments and non-recurring costs." EZCORP also said its board had approved a three-year, $60 million share repurchase authorization. That's a substantial sum for a company with a market capitalization of $347 million and is likely the primary driver of Friday's gains. Now what The repurchase announcement is a plus, but the business appears to be treading water at best. Same-store pawn service charges were up 1% year over year, while same-store operating expenses increased 2% on higher labor and benefit costs. Merchandise margins declined 359 basis points year over year, largely due to liquidation of aged inventory. The pawn shop industry is under pressure from a range of short-term lenders, including newcomers spurred by fintech innovation. EZCORP's answer to this challenge is to consolidate the industry, amassing a network of more than 500 stores in the U.S. and 470 in Latin America, on the idea that greater scale will help it weather the storm. The buyback is a nice plus, but it is only temporary. I'd like to see the business show stronger growth before I'd consider buying in. 10 stocks we like better than EZCORPWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and EZCORP wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source