Rent-A-Center: 2Q Earnings Snapshot
PLANO, Texas (AP) _ Rent-A-Center Inc. (RCII) on Monday reported second-quarter net income of $13.8 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 25 cents. Earnings, adjusted for non-recurring costs and pretax expenses, came to 47 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The company that leases furniture and appliances with an option to buy posted revenue of $655.7 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $642.3 million.
Rent-A-Center shares have climbed 33 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.72, an increase of 12 percent in the last 12 months.