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Rent-A-Center Q4 Results Beats View; Provides 2020 View

Rent-A-Center, Inc. (RCII) reported that its fourth quarter GAAP net earnings surged to $40.5 million or $0.72 per share from $1.7 million or $0.03 per share a year ago.

The recent quarter profit gain was due to special items of $19.4 million were primarily driven by a gain related to the sale of the Company's corporate headquarters.

Non-GAAP earnings per share were $0.58 compared to $0.35 in the prior year.

Total revenues increased 0.9 percent to $667.9 million. Excluding effects on revenues resulting from the refranchising efforts, revenues increased 2.4 percent.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share on revenues of $658.14 million. Analysts' estimates typically exclude special items.

Looking ahead, Rent-A-Center expects full-year earnings in the range of $2.45 to $2.85 per share, with revenue of $2.755 billion to $2.875 billion. Analysts expect profit of $2.61 per share on revenue of $2.73 billion.

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