Aaron's beats by $0.15, beats on revs; reaffirms FY19 EPS guidance, revs guidance
- Reports Q1 (Mar) earnings of $1.08 per share, excluding non-recurring items, $0.15 better than the S&P Capital IQ Consensus of $0.93; revenues rose 6.0% year/year to $1.01 bln vs the $0.99 bln S&P Capital IQ Consensus.
- Additionally, the Aaron's Business same store revenues were positive 0.7% which was a continuation of the improving trend in same store revenues experienced throughout 2018. The increase in consolidated revenues was primarily due to the 19.0% increase in revenues at Progressive, calculated on a basis consistent with the 2019 adoption of ASC 842, and the contributions of 152 franchised locations acquired by the Aaron's Business in 2018.
- Adjusted EBITDA for the Company was $115.2 million for the first quarter of 2019, compared with $94.1 million for the same period in 2018, an increase of $21.1 million, or 22.4%, due primarily to the strong growth in our Progressive segment.
- Co reaffirms guidance for FY19, sees EPS of $3.65-3.85, excluding non-recurring items, vs. $3.75 S&P Capital IQ Consensus; sees FY19 revs of $3.91-4.07 bln vs. $3.98 bln S&P Capital IQ Consensus.
No comments:
Post a Comment