Aaron’s: 4Q Earnings Snapshot
ATLANTA (AP) _ Aaron’s Inc. (AAN) on Thursday reported fourth-quarter net income of $61.7 million.
On a per-share basis, the Atlanta-based company said it had profit of 89 cents. Earnings, adjusted for non-recurring costs and pretax expenses, came to $1.02 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The rent-to-own company posted revenue of $993.2 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $996.3 million.
For the year, the company reported profit of $196.2 million, or $2.78 per share. Revenue was reported as $3.83 billion.
Aaron’s expects full-year earnings in the range of $3.65 to $3.85 per share.
Aaron’s shares have increased 20 percent since the beginning of the year. The stock has climbed 28 percent in the last 12 months.