Upbound (US:UPBD)2022-02-25 22:54Financial Performance - Full year 2021 consolidated revenues reached $46 billion, a 629% increase compared to the previous year, or a 173% increase on a pro forma basis[3] - Adjusted EBITDA for 2021 was $611 million, an 849% increase year-over-year, or a 149% increase on a pro forma basis[3] - Non-GAAP diluted EPS for 2021 was $557, compared to $353 in 2020[3] - Q4 revenues totaled $1171 million, with Rent-A-Center Business contributing $506 million (432%), Acima $612 million (523%), Franchising $38 million (32%), and Mexico $16 million (14%)[17] - Q4 Adjusted EBITDA was $124 million, representing 106% of total revenue[17] Segment Highlights - Acima's Q4 revenues were $612 million, a 123% increase on a pro forma basis[8] - Rent-A-Center Business same store sales increased by 104% year-over-year, and 241% on a 2-year basis[10] - E-commerce revenue for Rent-A-Center Business increased by 179% year-over-year and accounted for 23% of revenue in Q4[10] Strategic Initiatives and Challenges - The company completed the acquisition of Acima, expanding its strategic position and growth opportunities[3] - Macro headwinds, including the end of government pandemic relief programs and high inflation rates, impacted core consumers[5] - Skip/stolen losses for Acima were 118% of revenue in Q4, an increase of 100 bps year-over-year on a pro forma basis[8] - Skip/stolen losses for Rent-A-Center Business were 40% of revenue in Q4, an increase of 140 bps year-over-year[10] 2022 Guidance - The company provided 2022 revenue guidance of $4450 billion to $4600 billion and adjusted EBITDA guidance of $515 million to $565 million[12]