Core Viewpoint - The Aaron's Company, Inc. reported a wider loss per share in Q4 2023, with revenues declining year-over-year and missing consensus estimates [1][2]. Financial Performance - Adjusted loss per share was 26 cents, compared to a consensus estimate of earnings of 3 cents per share, and earnings of 9 cents per share in the same quarter last year [1]. - Consolidated revenues fell 10.2% to $529.5 million, missing the Zacks Consensus Estimate of $543 million [2]. - Lease revenues and fees decreased 8.3% year-over-year to $331.2 million, while retail sales dropped 14% to $166.4 million [2][3]. - Non-retail sales declined 9.3% to $26.4 million, and franchise royalties and other revenues decreased 6.8% to $5.5 million [2]. Segment Analysis - Revenues from the Aaron's business segment declined 8.7% year-over-year to $369.2 million, attributed to a weak lease portfolio and lower renewal rates [3]. - E-commerce revenues in the Aaron's segment increased 10.4% year-over-year, accounting for 20.6% of lease revenues [3]. - BrandsMart segment revenues decreased 12.6% to $164 million, with e-commerce product sales representing 9.8% of total product sales [3]. Margins and Profitability - Gross profit declined 5.8% to $269.4 million, while gross margin expanded by 130 basis points to 62.8% [4]. - Operating profit was $14.8 million, down from $17 million in the previous year [4]. - Adjusted EBITDA fell 6.6% year-over-year to $33.8 million, with an adjusted EBITDA margin increasing by 20 basis points to 9.1% [4]. Financial Position - The company ended the quarter with cash and cash equivalents of $59 million, total debt of $194 million, and shareholders' equity of $686.1 million [5]. - Adjusted free cash flow for 2023 was $102.3 million, with capital expenditure at $94.4 million [5]. - For 2024, capital expenditure is expected to be between $85 million and $95 million, with projected adjusted free cash flow of $15 million to $30 million [5]. Outlook - For 2024, the company anticipates revenues between $2.06 billion and $2.16 billion, with adjusted EBITDA projected at $105 million to $125 million [6]. - The expected loss per share ranges from 10 cents to earnings of 25 cents, with a reported loss anticipated between 5 cents and 30 cents per share [6]. - Revenues for the Aaron's business are expected to be between $1.46 billion and $1.52 billion, while BrandsMart revenues are anticipated to be between $610 million and $650 million [6].

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 ...

Aaron’s (NYSE:AAN) stock is falling hard on Tuesday following the release of the retail company’s earnings report for the fourth quarter of 2023.The bad news for AAN stockholders starts with the company’s adjusted earnings per share of -26 cents. That’s nowhere close to the 3 cents per share that Wall Street was expecting for the quarter. It’s also worse than the 9 cents per share reported in the same period of the year prior.Also not helping AAN stock today is the company’s revenue of $529.5 million. That ...

For the quarter ended December 2023, Aaron's Company, Inc. (AAN) reported revenue of $529.48 million, down 10.2% over the same period last year. EPS came in at -$0.26, compared to $0.09 in the year-ago quarter.The reported revenue represents a surprise of -2.47% over the Zacks Consensus Estimate of $542.88 million. With the consensus EPS estimate being $0.03, the EPS surprise was -966.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectation ...

Aaron's Company, Inc. (AAN) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of $0.03. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -966.67%. A quarter ago, it was expected that this specialty retail would post earnings of $0.06 per share when it actually produced earnings of $0.01, delivering a surprise of -83.33%.Over the last four quarters, the compa ...

ATLANTA, Feb. 26, 2024 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) today released its fourth quarter and full year 2023 financial results. Highlights of those results and the 2024 outlook are included below, in the attached supplement, and at investor.aarons.com.Fourth Quarter 2023 Consolidated Results1: Revenues were $529.5 million, a decrease of 10.2% Adjusted EBITDA2,3 was $22.4 million, a decrease of 25.2% Loss per share was $0.41; Non-GAAP loss per share2 was $0.26 Write-offs were 6.5% in ...

ATLANTA, Feb. 26, 2024 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN), a leading, technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.125 per share and declared such dividend payable on April 3, 2024, to shareholders of record as of the close of business on March 14, 2024. About The Aaron's Company, Inc. Headquartered in Atlanta, The Aaron's Company, Inc. is a leading, ...

Exhibit 10.1 Execution Version FIRST AMENDMENT TO CREDIT AGREEMENT THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated February 23, 2024 (this “Amendment”) is entered into among Aaron’s, LLC, a Georgia limited liability company (the “Borrower”), The Aaron’s Company, Inc., a Georgia corporation (“Holdings”), the other Guarantors party hereto, the Lenders party hereto, the Issuing Banks party hereto and Truist Bank, as Administrative Agent. RECITALS WHEREAS, the Borrower, Holdings, the other Guarantors from time ...

The Aaron's Company, Inc. (AAN) is scheduled to report fourth-quarter 2023 results on Feb 26. This lease-to-own provider is likely to witness declines in the top and bottom lines when it reports quarterly results.The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 3 cents per share, which indicates a sharp decline of 66.7% from the year-ago quarter’s reported figure. The consensus mark has been unchanged in the past 30 days. The consensus mark for revenues is pegged at $542.9 million, indi ...

In its upcoming report, Aaron's Company, Inc. (AAN) is predicted by Wall Street analysts to post quarterly earnings of $0.03 per share, reflecting a decline of 66.7% compared to the same period last year. Revenues are forecasted to be $542.88 million, representing a year-over-year decrease of 7.9%.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior t ...