Conn's (CONN) Tops Q1 EPS by 17c, Sales Light

June 6, 2017 6:02 AM

Conn's (NASDAQ: CONN) reported Q1 EPS of ($0.05), $0.17 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $355.83 million versus the consensus estimate of $358.71 million.

“We are encouraged by our fiscal 2018 first quarter financial performance, operating results and strong retail profitability - which is all underscored by ongoing progress with our credit business,” commented Norm Miller, Conn\'s Chairman, Chief Executive Officer and President. “Conn’s credit segment performance is improving as a result of higher finance charges, strengthening portfolio trends, controlled expenses, and lower borrowing costs. Interest income and fee yield of 18.2% was the highest since the fiscal 2015 fourth quarter as a result of the strategies we have implemented to increase yield. Approximately 84% of our current originations have a weighted average interest rate of 28.6%, compared to almost 22% in September. As higher rate originations become a larger percentage of Conn’s credit portfolio, we now expect interest income and fee yield will ultimately increase to 23 - 25%.”

Outlook and Guidance

The following are the Company\'s expectations for the business for the second quarter of fiscal year 2018:

For earnings history and earnings-related data on Conn's (CONN) click here.

Categories

Earnings Guidance Management Comments

Next Articles