Company Operations - As of March 31, 2024, the Company operates approximately 1,220 stores and an e-commerce platform, focusing on lease-to-own and retail purchase solutions[18]. - The Company’s BrandsMart U.S.A. segment operates 11 stores in Florida and Georgia, contributing to its position as one of the largest appliance retailers in the country[20]. Financial Performance - Total revenues for the three months ended March 31, 2024, were $511,497, a decrease of 7.7% from $554,361 in the same period of 2023[75]. - Total revenues for the Aaron's Business segment were $381.1 million for the three months ended March 31, 2024, compared to $412.1 million for the same period in 2023, reflecting a decrease of approximately 7.5%[98]. - The BrandsMart segment generated total revenues of $132.5 million for the three months ended March 31, 2024, compared to $144.2 million in the same period in 2023, reflecting a decrease of approximately 8.1%[98]. - The company reported net losses of $14,181,000 for the three months ended March 31, 2024[55]. - The company reported a net loss before income taxes of $16.3 million for the three months ended March 31, 2024, compared to a profit of $8.9 million for the same period in 2023, indicating a significant decline[99]. Revenue and Expenses - Lease revenues and fees amounted to $346,009 for the three months ended March 31, 2024, down from $373,795 in the prior year, representing a decline of 7.4%[75]. - Franchise royalties and fees for the three months ended March 31, 2024, were $5,729, slightly down from $5,898 in the same period of 2023[75]. - Gross profit for the Aaron's Business segment was $244.6 million for the three months ended March 31, 2024, down from $260.7 million in the same period in 2023, representing a decline of about 6.2%[99]. - The company reported total restructuring expenses of $7.9 million for the three months ended March 31, 2024, compared to $5.3 million for the same period in 2023, indicating an increase of approximately 49.1%[99]. Accounts and Receivables - The net accounts receivable as of March 31, 2024, totaled $35.162 million, a decrease from $39.782 million as of December 31, 2023[32]. - The provision for uncollectible accounts receivable for the three months ended March 31, 2024, was $8.842 million, compared to $6.908 million for the same period in 2023[36]. - The allowance for accounts receivable as of March 31, 2024, was $7.632 million, an increase from $5.908 million as of March 31, 2023[33]. Inventory and Merchandise - Merchandise inventories decreased from $90,172,000 as of December 31, 2023, to $83,012,000 as of March 31, 2024, representing a decline of approximately 8.5%[40]. - The reserve for merchandise inventories decreased from $921,000 to $867,000, indicating a reduction of about 5.9%[40]. - The Company's lease merchandise, net of accumulated depreciation and allowances, was $629.581 million as of March 31, 2024, compared to $622.262 million as of December 31, 2023[37]. Debt and Financing - The company’s total debt as of March 31, 2024, was $212,913, an increase of 9.8% from $193,963 at December 31, 2023[69]. - Long-term debt increased to $205,432 as of March 31, 2024, compared to $187,575 at December 31, 2023, reflecting a rise of 9.5%[69]. - The company entered into a non-speculative interest rate swap agreement with a notional amount of $100 million, converting variable interest rate debt to a fixed rate of 3.87%[48]. - The company entered into an interest rate swap agreement with a notional amount of $100 million, with a fair value of $952 as of March 31, 2024[64]. - The company’s revolving credit facility commitment was amended from $375 million to $275 million on February 23, 2024[71]. Restructuring and Legal Matters - Total net restructuring expenses under the Operational Efficiency and Optimization Restructuring Program were $5.3 million for the three months ended March 31, 2024, compared to $2.9 million in the same period of 2023, indicating an increase of approximately 82.76%[91]. - The Company has incurred cumulative charges of $23.3 million under the Operational Efficiency and Optimization Restructuring Program since its inception[91]. - The real estate repositioning and optimization restructuring program resulted in total net restructuring expenses of $2.6 million for the three months ended March 31, 2024, compared to $2.4 million in the same period of 2023[93]. - Cumulative charges under the real estate repositioning and optimization program reached $73.4 million since its inception[93]. - The Company closed or consolidated 57 stores through March 31, 2024, as part of its restructuring efforts[91]. - As of March 31, 2024, the Company had accrued $1.1 million for pending legal and regulatory matters, up from $0.7 million as of December 31, 2023[87]. Other Financial Metrics - The total shareholders' equity decreased from $686,138,000 as of December 31, 2023, to $670,536,000 as of March 31, 2024, a decline of approximately 2.3%[55]. - Goodwill allocated to BrandsMart and BrandsMart Leasing was $29.2 million as of March 31, 2024, compared to $26.5 million as of December 31, 2023, reflecting an increase of approximately 10.2%[53]. - Prepaid expenses increased from $14,482,000 to $19,449,000, representing an increase of approximately 34.1%[44]. - The company reported a deferred compensation liability of $11,157 as of March 31, 2024, compared to $10,574 at December 31, 2023[64]. - Assets held for sale were valued at $2,509 as of March 31, 2024, up from $850 at December 31, 2023[66].

ATLANTA, Ga., May 6, 2024 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) today released its first quarter 2024 financial results. Highlights of those results and the 2024 outlook are included below, in the attached supplement, and at investor.aarons.com.First Quarter 2024 Consolidated Results: Revenues were $511.5 million Adjusted EBITDA1 was $22.7 million Loss per share was $0.46; Non-GAAP loss per share1 was $0.15 Reaffirms full year 2024 outlook for revenue and adjusted EBITDA and raises outloo ...

Core Viewpoint - The Aaron's Company, Inc. is expected to report a decline in both revenue and earnings for the first quarter of 2024, with a consensus estimate indicating a loss of 8 cents per share compared to earnings of 66 cents per share in the same quarter last year, and a revenue decline of 6.7% to $517.4 million [1][4]. Group 1: Financial Performance Expectations - The Zacks Consensus Estimate for the bottom line is a loss of 8 cents per share, a significant drop from earnings of 66 cents per share reported in the year-ago quarter [1]. - Revenue is expected to decline by 6.7% year-over-year, with a consensus mark of $517.4 million [1]. - The company experienced a negative earnings surprise of 966.7% in the last reported quarter and an average earnings miss of 199.4% over the trailing four quarters [1][2]. Group 2: Business Segment Challenges - The Aaron's Business segment is facing sluggishness, characterized by a smaller lease portfolio size, lower lease renewal rates, and weak retail sales [2][3]. - Weak lease revenues and fees, along with poor retail sales at both Aaron's and BrandsMart, are anticipated to negatively impact the company's results [2]. - The demand for discretionary products has been adversely affected by lower customer income, which is expected to continue affecting retail sales trends in the first quarter [3]. Group 3: Operational Insights - The company has projected a lower consolidated adjusted EBITDA for the first quarter, estimated to represent about 20% of the overall adjusted EBITDA for the year, alongside a net loss [4]. - Lease revenues and fees are expected to decline by 8.9%, with revenues for the Aaron's business and BrandsMart projected to decrease by 5.3% and 7%, respectively [4]. Group 4: Strategic Initiatives - The company is advancing its business through effective e-commerce strategies, including flexible payment options, competitive pricing, and a wider product variety [5]. - Investments in digital marketing, improved shopping experiences, and express delivery programs are expected to provide some support to the company's performance [5]. Group 5: Earnings Prediction Model - The Zacks model indicates that the company does not have a conclusive prediction for an earnings beat, with an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell) [6].

Group 1 - The Aaron's Company, Inc. will host a conference call and webcast on May 7, 2024, at 8:30 a.m. Eastern Time to discuss its first quarter 2024 financial results [1] - The earnings release will be issued after the market closes on May 6, 2024 [1] - The call will be hosted by CEO Douglas A. Lindsay, President Steve Olsen, and CFO C. Kelly Wall [1] Group 2 - The Aaron's Company, Inc. is a leading technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions for appliances, electronics, furniture, and other home goods [2] - The company operates approximately 1,220 stores across 47 states and Canada, along with an e-commerce platform [2] - BrandsMart U.S.A. is a significant player in the appliance retail sector with 11 stores in Florida and Georgia [2]

The market expects Aaron's Company, Inc. (AAN) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they ...

Investors Keep Buying These Sizzling 4 S&P Mid-Cap Dividend Aristocrats Bet_Noire / iStock via Getty Images Since 1926, dividends have contributed approximately 32% of the total return for the S&P 500, while capital appreciations have contributed 68%. Therefore, sustainable dividend income and capital appreciation potential are essential for total return expectations.A recent study from Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an annualized return of 9 ...

Company Performance - Aaron's Company, Inc. (AAN) closed at $6.98, down 1.13% from the previous trading day, underperforming the S&P 500 which gained 1.12% [1] - Over the past month, shares of Aaron's Company have declined by 34.63%, contrasting with the Consumer Discretionary sector's gain of 1.03% and the S&P 500's gain of 2.06% [1] - The upcoming earnings report is anticipated to show an EPS of $0, indicating a 100% decline compared to the same quarter last year, with revenue expected to be $521.62 million, reflecting a 5.91% decline year-over-year [1] Analyst Estimates - For the full year, analysts expect earnings of $0.23 per share and revenue of $2.11 billion, representing declines of 71.6% and 1.33% respectively from the previous year [2] - Recent modifications to analyst estimates indicate shifting business dynamics, with positive revisions suggesting optimism regarding the company's profitability [2] - The Zacks Rank system, which incorporates estimate changes, currently ranks Aaron's Company at 4 (Sell), reflecting a significant 93.42% decrease in the consensus EPS estimate over the past month [3] Valuation and Industry Context - Aaron's Company has a Forward P/E ratio of 30.7, which is a premium compared to the industry average Forward P/E of 17.01 [3] - The Consumer Services - Miscellaneous industry, part of the Consumer Discretionary sector, holds a Zacks Industry Rank of 157, placing it in the bottom 38% of over 250 industries [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission file number. 1-39681 THE AARON'S COMPANY, INC. (Exact name of registrant as specified in its charter) Georgia 85-2483376 (State or other jurisdiction ...

The Aaron's Company, Inc. (AAN) reported wider loss per share during fourth-quarter 2023. Also, the top line missed the Zacks Consensus Estimate and declined on a year-over-year basis.Aaron's delivered adjusted loss of 26 cents per share against the consensus estimate of earnings of 3 cents per share. However, the company reported earnings of 9 cents per share in the year-ago quarter.Quarter in DetailConsolidated revenues declined 10.2% to $529.5 million, owing to weak lease revenues and fees at the Aaron's ...

The Aaron’s Company, Inc. (NYSE:AAN) Q4 2023 Results Conference Call February 27, 2024 8:30 AM ET Company Participants Mark Levee - Vice President, Finance and Investor Relations Douglas Lindsay - Chief Executive Officer Stephen Olsen - President Kelly Wall - Chief Financial Officer Conference Call Participants Bobby Griffin - Raymond James Kyle Joseph - Jefferies Joseph Civello - Truist Operator Hello, everyone, and welcome to the Aaron’s Company, Inc. Q4 2023 Earnings Conference Call. My name is Charlie a ...