Rent-A-Center: 3Q Earnings Snapshot
PLANO, Texas (AP) _ Rent-A-Center Inc. (RCII) on Monday reported third-quarter net income of $12.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Plano, Texas-based company said it had net income of 24 cents. Earnings, adjusted for non-recurring costs, came to 32 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The company that leases furniture and appliances with an option to buy posted revenue of $644.9 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $635 million.
Rent-A-Center shares have risen 28 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.16, a climb of 34 percent in the last 12 months.