Aaron's (NYSE: AAN) reported Q3 EPS of $1.80, $0.36 better than the analyst estimate of $1.44. Revenue for the quarter came in at $1.05 billion versus the consensus estimate of $1.01 billion.

• Third Quarter Revenues of $1.05 Billion, up 9.2%
• Diluted EPS $1.60; Non-GAAP Diluted EPS $1.80, up 147%
• Progressive Revenues of $601 Million, up 13.7%
• Aaron's Business Revenues up 3.4%; Same Store Revenues up 7.3%
• Spin Transaction Expected to be Completed During the Fourth Quarter

"We are pleased to announce record third quarter revenues and earnings. Progressive Leasing and the Aaron's Business continued to perform well during this period of uncertainty caused by the ongoing pandemic. I am proud of our teams for executing at such a high level during the quarter despite supply chain disruptions, changing consumer behavior and ongoing retail restrictions in certain markets. Our team has done an outstanding job effectively managing our business in a very challenging environment," said John Robinson, Chief Executive Officer at Aaron's Holdings Company, Inc. "Regarding our previously announced separation, we believe the Company is on track to complete the transaction during the fourth quarter."

GUIDANCE:

Aaron's sees Q4 2020 EPS of $1.20-$1.30, versus the consensus of $1.20. Aaron's sees Q4 2020 revenue of $1.025-1.045 billion, versus the consensus of $1.03 billion.

For the fourth quarter, we expect consolidated revenues between $1.025 billion and $1.045 billion and Non-GAAP Diluted Earnings Per Share of between $1.20 and $1.30. This outlook assumes no significant deterioration in the current retail environment or in the state of the U.S. economy as compared to its current condition and a gradual improvement in global supply chain conditions. Estimated fourth quarter Non-GAAP Diluted Earnings Per Share assumes no reduction in the COVID-specific reserves established at the end of the first quarter of 2020.

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