Aaron's (AAN) Tops Q1 EPS by 18c; Raises Outlook

Aaron's (NYSE: AAN) reported Q1 EPS of $0.73, $0.18 better than the analyst estimate of $0.55. Revenue for the quarter came in at $821.8 million versus the consensus estimate of $794.07 million.

Aaron's sees FY2015 EPS of $2.01-$2.21, versus prior guidance of $1.90-$2.10 and the consensus of $2.02. Aaron's sees FY2015 revenue of $3.1-3.3 billion, versus prior guidance of $3.05-3.25 billion.

We're encouraged by the contributions of the core business and Progressive," said John Robinson, Chief Executive Officer of Aaron's, Inc. "The core business performed as expected. Inventory and pricing initiatives are gaining traction, and significant benefits are being realized from the cost reductions previously outlined. Progressive continues to deliver solid profitability on growing revenues."

"Profitability in the core business stabilized in the quarter, and we believe our strategies can ultimately restore growth in this segment," continued Mr. Robinson. "At Progressive, we plan to add new doors to the system while maintaining our focus on product and process innovation to drive higher invoice volume in existing retail locations. We are making progress on realizing synergies between Progressive and the core business and will continue to look for new integration opportunities. Looking forward, we believe our strategic plans will result in a much stronger and more profitable organization," Mr. Robinson said.

For earnings history and earnings-related data on Aaron's (AAN) click here.

You May Also Be Interested In

• Hasbro (HAS) brand strength sees earnings top expectations
• Norfolk Southern (NSC) Misses Q1 EPS by 12c
• Capitol Federal Financial (CFFN) Misses Q2 EPS by 1c