Rent-A-Center (RCII) Tops Q2 EPS by 1c, Revenues Beat

Rent-A-Center (NASDAQ: RCII) reported Q2 EPS of $0.25, $0.01 better than the analyst estimate of $0.24. Revenue for the quarter came in at $655.73 million versus the consensus estimate of $644.12 million.

"We are extremely pleased with both the top and bottom line performances for the second quarter, across all operating segments. Positive consolidated same store sales of 3.7 percent improved sequentially in each month within the quarter and across all operating segments. This was driven by sequential customer growth in the Core, and strong demand in Acceptance NOW primarily due to the value proposition enhancements. In addition, the Company's cost savings initiatives continue to outperform our internal goals, further strengthening the EBITDA performance," stated Mitch Fadel, Chief Executive Officer of Rent-A-Center.

Mr. Fadel continued, "Finally, the announced transaction with Vintage Capital Management, which reflects a sizable premium, was made possible by the significant progress made to materially improve performance."

2018 Selected Guidance

The Company is not providing guidance due to the pending Vintage Merger.

For earnings history and earnings-related data on Rent-A-Center (RCII) click here.

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