Aaron’s: 3Q Earnings Snapshot
ATLANTA (AP) _ Aaron’s Inc. (AAN) on Monday reported third-quarter earnings of $39.8 million.
The Atlanta-based company said it had net income of 58 cents per share. Earnings, adjusted for amortization costs and restructuring costs, were 73 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The rent-to-own company posted revenue of $963.8 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $980.3 million.
Aaron’s expects full-year earnings in the range of $3.75 to $3.85 per share.
Aaron’s shares have risen 76% since the beginning of the year. In the final minutes of trading on Monday, shares hit $73.96, a climb of 51% in the last 12 months.