ATLANTA, Oct. 24,
2022 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE:
AAN) today released its third quarter 2022 financial results.
Complete financial results are available at investor.aarons.com.
Highlights of those results are included below and in the attached
supplement.
Consolidated Results:
- Revenues were $593.4 million, an
increase of 31.2%, benefiting from the BrandsMart acquisition
- Net loss was $15.6 million;
Adjusted net earnings1 were $9.7
million
- Adjusted EBITDA1 was $35.2
million, a decrease of 34.3%
- Loss per share was $0.51;
Non-GAAP EPS1 was $0.31
Key Items:
- Aaron's Business same-store revenues decreased 7.7% compared to
an increase of 4.6% in the prior year quarter
- BrandsMart product sales2 decreased 0.5% compared to
an increase of 9.6% in the prior year quarter
- E-commerce revenue grew year-over-year by 11.1% at the Aaron's
Business and by 18.0% at BrandsMart2
- The Aaron's Business opened its 200th GenNext location in
October
Aaron's will host an earnings conference call tomorrow,
October 25, 2022, at 8:30 a.m. ET. Chief Executive Officer
Douglas A. Lindsay will host the
call along with President Steve
Olsen and Chief Financial Officer C.
Kelly Wall. A live audio webcast of the conference call and
presentation slides may be accessed at investor.aarons.com and the
hosting website at https://events.q4inc.com/attendee/576928281. A
transcript of the webcast will also be available at
investor.aarons.com.
About The Aaron's Company,
Inc.
Headquartered in Atlanta, The
Aaron's Company, Inc. (NYSE: AAN) is a leading, technology-enabled,
omnichannel provider of lease-to-own and retail purchase solutions
of appliances, electronics, furniture, and other home goods across
its brands: Aaron's, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven.
Aaron's offers a direct-to-consumer lease-to-own solution through
its approximately 1,300 Company-operated and franchised stores in
47 states and Canada, as well as
its e-commerce platform. BrandsMart U.S.A. is one of the leading appliance
retailers in the country with ten retail stores in Florida and Georgia. BrandsMart Leasing offers
lease-to-own solutions to customers of BrandsMart U.S.A. Woodhaven is our furniture
manufacturing division. For more information, visit
investor.aarons.com, aarons.com, and brandsmartusa.com.
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1.
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Item is a Non-GAAP
financial measure. Refer to the "Use of Non-GAAP Financial
Information" and supporting reconciliation tables in the attached
supplement.
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2.
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This metric is
unaudited and includes a comparison to a period in which the
BrandsMart business was not owned by The Aaron's Company,
Inc.
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SOURCE The Aaron's Company, Inc.