Aaron's (AAN) Q1 Earnings & Revenues Top Estimates, Stock Up
Zacks Investment Research | Apr 26, 2019 02:31AM ET
Aaron's, Inc. (NYSE:AAN) posted robust first-quarter 2019 results, wherein both the top line and the bottom line surpassed the Zacks Consensus Estimate. Moreover, earnings and sales improved year over year, thanks to improved sales in most segments and enhanced margins.
Shares of the company gained more than 10% during yesterday’s trading session. In the past six months, this Zacks Rank #3 (Hold) stock has rallied approximately 34% compared with the industry ’s growth of 5.9%.
Q1 Highlights
Aaron's delivered adjusted earnings of $1.08 per share, which surpassed the Zacks Consensus Estimate of 93 cents and increased around 33% from the prior-year quarter’s figure. The year-over-year surge can be attributed to higher revenues and enhanced margins.
Including one-time items, the company reported GAAP earnings per share of 82 cents, up from 73 cents in the year-ago quarter. The upside was driven by decline in operating expenses of around $3 million that stemmed from accounting changes and adoption of ASC-842.
Aaron's, Inc. Price, Consensus and EPS Surprise
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