Conn's (CONN) Misses Q1 EPS Views; Comps Fell 1.3%

June 2, 2016 6:02 AM EDT
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Price: $20.89 +6.42%

Financial Fact:
Diluted (in dollars per share): -0.12

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Conn's (NASDAQ: CONN) reported Q1 EPS of ($0.31), $0.37 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $319.04 million versus the consensus estimate of $393.16 million.

Comps for the quarter decreased 1.3%.

Outlook and Guidance

The following are the Company's expectations for the business for the second quarter of fiscal 2017:

  • Retail gross margin between 37.0% and 37.5% of total net sales;
  • Selling, general and administrative expenses between 28.25% and 29.25% of total revenues;
  • Provision for bad debts between 14.25% and 15.25% of the average total customer portfolio balance (annualized);
  • Credit segment finance charges and other revenues between 18.25% and 18.75% of the average total customer portfolio balance (annualized); and
  • Interest expense between $25.5 million and $27.0 million.

The Company is updating its expectations for fiscal year 2017:

  • Total revenue growth in the low- to mid-single digits;
  • Change in same store sales to range from down mid- to low-single digits, considering the sales impact of underwriting changes;
  • Retail gross margin between 36.75% and 37.50% of total net sales; and
  • Opening of approximately 10 to 12 stores.

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

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