Upbound Group (UPBD) reported $1.07 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 9.2%. EPS of $0.95 for the same period compares to $0.79 a year ago.The reported revenue represents a surprise of +2.10% over the Zacks Consensus Estimate of $1.05 billion. With the consensus EPS estimate being $0.89, the EPS surprise was +6.74%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

Upbound Group (UPBD) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.74%. A quarter ago, it was expected that this company that leases furniture and appliances with an option to buy would post earnings of $1.02 per share when it actually produced earnings of $1.04, delivering a surp ...

Financial Performance - Consolidated revenue for Q3 2024 was $1,068.9 million, representing a 9.2% year-over-year increase[5] - Adjusted EBITDA for Q3 2024 was $116.9 million, up 10.3% year-over-year, with an adjusted EBITDA margin of 10.9%[10] - Net income for Q3 2024 reached $30.9 million, an increase of $26.5 million compared to the previous year[5] - Acima's GMV grew by 13.0% year-over-year in Q3 2024, with revenues of $566.2 million, reflecting a 19.1% increase year-over-year[11] - Rent-A-Center reported revenue of $458.7 million in Q3 2024, a 1.1% year-over-year increase, with same-store sales up 2.6%[14] - Year-over-year revenue growth was reported at both Acima and Rent-A-Center (RAC), with Acima experiencing four consecutive quarters of double-digit GMV growth[19] - Total revenue for the three months ended September 30, 2024, was $1,068.9 million, an increase from $877.8 million in the same period last year, representing a growth of 21.8%[29] Cost and Expenses - Total cost of revenues was $392.2 million, up from $315.8 million, reflecting an increase of 24.2%[28] - Operating expenses totaled $110.0 million, compared to $101.3 million, marking an increase of 6.8%[28] - Total cost of revenues was $557.8 million, compared to $315.8 million in the previous year, indicating an increase of 76.6%[29] - Operating expenses totaled $412.9 million, up from $253.5 million, which is a rise of 62.9% year-over-year[29] - Non-labor operating expenses were $196.0 million, an increase from $122.9 million, representing a growth of 59.4%[29] Cash Flow and Debt Management - The company reduced debt by $81 million in Q3 2024 and ended the quarter with an undrawn ABL revolver[6] - Net cash provided by operating activities was $106.2 million, an increase of $28.2 million compared to Q3 2023[6] - The net leverage ratio decreased to 2.6x at the end of Q3 2024, down from 2.8x at the end of Q2 2024, with net debt reduced to $1.2 billion[18] - Free cash flow for the nine months ended September 30, 2024, was $88.3 million, compared to $63.2 million for the same period in 2023[27] Strategic Initiatives - Full year 2024 guidance indicates strong performance, positioning the company to meet its targets[6] - Strategic priorities for 2024 include expanding market share and enhancing digital capabilities to improve customer experience[9] - The company anticipates continued growth in revenue driven by new product launches and market expansion strategies[28] - The company is focusing on market expansion and new product development to drive future growth[29] Shareholder Returns - The company distributed a quarterly dividend of $0.37 per share, amounting to an annualized total of $1.48[18] - Total liquidity exceeded $550 million, supporting strategic priorities including growth initiatives and opportunistic buybacks[18] Performance Metrics - Lease charge-offs for Acima were 9.2%, improving by 20 basis points year-over-year and 40 basis points sequentially[11] - The company reported a 90 basis points year-over-year improvement in RAC's net earnings margin and a 130 basis points improvement in EBITDA margin[19] - Adjusted diluted earnings per share guidance for FY 2024 is projected to be between $3.75 and $3.90, an increase from the previous guidance of $3.65 to $3.90[16] - Merchandise sales reached $123.3 million, compared to $26.7 million, showing a significant increase of 362.5%[28] - Installment sales were $14.4 million, up from $13.4 million, reflecting a growth of 7.5%[28] - Rentals and fees contributed $442.5 million, up from $417.3 million, indicating a growth of 6.0% year-over-year[28] - Franchise and royalty fees amounted to $5.9 million, consistent with the previous year, showing no growth[28]

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After a rocky start to the month that led to a global market rout, two major inflation data seemed to have steadied the ship as the broader equity markets inched closer to all-time highs reached in mid-July. While the producer price index (a measure of wholesale prices) was up 0.1% last month, the consumer price index (a broad-based measure of prices for goods and services) increased 0.2%. This put the 12-month inflation rate at 2.9% — the lowest since March 2021. While the data gave an uncertain market som ...

Upbound Group (UPBD) closed the last trading session at $31.75, gaining 6.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $40.43 indicates a 27.3% upside potential. The average comprises seven short-term price targets ranging from a low of $31 to a high of $45, with a standard deviation of $5.09. While the lowest estimate indicates a decline of 2.4% from the current price level, ...

Upbound Group (UPBD) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. The power o ...

A downtrend has been apparent in Upbound Group (UPBD) lately. While the stock has lost 10.9% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for t ...

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