Rent-A-Center gains 16% on topping earnings expectations [Seeking Alpha]
Rent-A-Center Inc. (RCII)
Last rent-a-center inc. earnings: 2/24 05:12 pm
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US:NASDAQ Investor Relations:
investor.rentacenter.com
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Source: Seeking Alpha
Rent-A-Center gains 16% on topping earnings expectationsAug. 04, 2022 1:50 PM ETRCIIBy:Urvi ShahSA News EditorRent-A-Center (reportedRevenue of $1.071B, down 10.3% Y/Y almost in-line with consensus and higher than guidance mid-point of $1.045B-$1.075B. Revenues were primarily due to lower merchandise sales revenue andrental revenues compared to the prior year period.Segments:Rent-A-Center: Revenues of $490.2M, decreased 3.1% Y/Y on a 3.3% decrease in same-store sales primarily attributable to a decline in merchandise sales and reduced utilization of early payout options in the quarter, which had benefited from government stimulus programs in the prior year period.Franchising: Revenues of $34.2M decreased 9.1% Y/Y due to lower inventory purchases per store.Mexico: Revenues of $16.7M, increased 9.4% Y/Y on a constant currency basis.Key Operating Metrics: Q2 gross merchandise volume was for Rent-A-Car business was down 3.3%, Mexico up 7.3%.FY22 Guidance:Non-GAAP EPS $4.00 - $4.50 from pr
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