Conn's (CONN) Tops Q2 EPS by 88c, Revenues Miss
Get Alerts CONN Hot Sheet
EPS Growth %: +63.2%
Financial Fact:
Finance charges and other: 68.74M
Today's EPS Names:
MAXN, CSTR, ACU, More
Join SI Premium – FREE
Conn's (NASDAQ: CONN) reported Q2 EPS of $0.75, $0.88 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $366.92 million versus the consensus estimate of $377.68 million.
Second quarter of fiscal year 2021 highlights include:
- Earnings of $0.70 per diluted share, a 13% increase from the prior fiscal year period, driven by positive credit segment operating results and cost saving initiatives
- Cash and third-party sales grew 51% compared to the prior fiscal year period reflecting strong demand for home-related products
- Sales financed by Conn’s in-house credit declined by 36% from the prior fiscal year period as a result of tighter underwriting, despite a 5% year-over-year increase in applications
- E-commerce sales grew 72% from the prior fiscal year period
- Cash payment rate on outstanding loans increased to the highest second-quarter level in 9 fiscal years
- Operating cash flow increased 242% year-over-year driven by growth of cash and third-party sales, strong payment rates on our customer receivables portfolio and a decline in Conn’s in-house credit originations
“Throughout the COVID-19 pandemic, we have focused on serving our customers by providing access to essential home-related products, while supporting our team members and communities. Overall, our second quarter results were better than expected given the unprecedented disruption the COVID-19 crisis has caused and I want to personally thank all of our associates for their continued dedication during this challenging period. While the current environment remains uncertain, I am proud of our performance, which highlights the resiliency of our business model and the actions our team has taken to successfully navigate this unprecedented pandemic,” stated Norm Miller, Conn’s Chairman and Chief Executive Officer.
For earnings history and earnings-related data on Conn's (CONN) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- American Express (AXP) down despite beating Q1 estimates on top and bottom lines
- Fifth Third Bancorp (FITB) Tops Q1 EPS by 2c
- Baozun Inc. (BZUN) Chairman Issues 2023 Letter to Shareholders
Create E-mail Alert Related Categories
Corporate News, Earnings, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!