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Rent-A-Center Issues Q3 Guidance; Raises FY20 Outlook - Quick Facts

(RTTNews) - Rent-A-Center, Inc. (RCII) said it expects third quarter non-GAAP earnings per share between $0.95 and $1.05, and consolidated revenues to be between $695 million and $715 million. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.61 on revenue of $687.44 million. Analysts' estimates typically exclude special items.

The company has increased its full year 2020 guidance and now expects: non-GAAP earnings per share of $3.15 to $3.45; and revenues of $2.78 billion to $2.83 billion. Analysts expect the company to report profit per share of $2.75 on revenue of $2.77 billion.

Mitch Fadel, CEO, said: "Lease portfolio performance and customer payment activity have remained strong in both businesses even without additional government stimulus."

Shares of Rent-A-Center were up 5% in pre-market trade on Monday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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