Rent-A-Center Q4 Profit Down, But Beats Estimates; Sees Annual Earnings Below View - Update

(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.


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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