Rent-A-Center (RCII) Q3 Earnings Miss Estimates, Up Y/Y
Zacks Investment Research | Nov 06, 2019 08:42PM ET
Rent-A-Center, Inc.’s (NASDAQ:RCII) positive earnings surprise streak came to an end with third-quarter 2019 results. The bottom line fell short of the Zacks Consensus Estimate, after surpassing the same in the preceding five quarters. Nevertheless, the top line surpassed the consensus mark.
Notably, both the top line and the bottom line grew year over year. Moreover, the company’s same-store sales (comps) increased for the 11th straight quarter. Following the results, the company reaffirmed and narrowed its full-year projection.
We note that shares of the company declined 4.2% during the after-market trading session on Nov 6.
Q3 in Detail
Rent-A-Center posted adjusted earnings of 47 cents a share that missed the Zacks Consensus Estimate of 50 cents. However, the bottom line increased significantly from 32 cents reported in the year-ago quarter. We note that lower operating expenses and reduced interest expense favorably impacted the bottom line.
Rent-A-Center, Inc. Price, Consensus and EPS Surprise
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