(Adds Outlook)
Rent-A-Center (RCII) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $2.647 million, or $0.05 per share. This compares with $9.812 million, or $0.15 per share, in last year's fourth quarter.
Excluding items, Rent-A-Center reported adjusted earnings of $48.838 million or $0.86 per share for the period.
Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 15.3% to $960.922 million from $1.134 billion last year.
Outlook:
Looking ahead, for the full year, the company expects its earnings below analysts' estimates, and revenue in line with the view. RCII also projects adjusted income per share of $2.50-$3. Analysts, on average, polled by Thomson Reuters expect the firm to earn $3.13 per share. Analysts' estimates typically exclude special items.
For 12-month period, Rent-A-Center projects revenue of $3.8 billion -$4 billion. Analysts, on average, forecast the company to record revenue of $4 billion.
Rent-A-Center Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $2.647 Mln. vs. $9.812 Mln. last year.
-EPS (Q4): $0.05 vs. $0.15 last year.
-Analyst Estimates: $0.74
-Revenue (Q4): $960.922 Mln vs. $1.134 Bln last year.
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