Rent-A-Center Reports Q3 Adj. EPS Of $0.49 - Quick Facts

(RTTNews) - Rent-A-Center, Inc. (RCII), the nation's largest rent-to-own operator, reported third-quarter net earnings of $25.3 million or $0.48 per share, compared to $27.2 million or $0.50 per share, prior year. After adjusting for significant items, net earnings was $26.0 million or $0.49 per share, for the quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.47 for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $769.5 million, an increase of $14.7 million from $754.8 million, prior year. The company said the 2.0% increase in total revenues was primarily due to increases of approximately $36.6 million in the Acceptance Now segment and approximately $6.9 million in the Mexico segment, partially offset by a decrease of approximately $29.5 million in the Core U.S. segment. Analysts expected revenue of $773.32 million for the quarter.

The company reported that third-quarter same store sales increased 1.9% as compared to the same period in the prior year, primarily attributable to increases of 25.7% and 25.9% in the Acceptance Now and Mexico segments, respectively, partially offset by a 3.6% decrease in the Core U.S. segment. The company said its expectations for the balance of the year are consistent with the guidance provided in the second quarter 2014 press release.