Upbound Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 05:49 pm
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Upbound Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 808.2 million compared to USD 830.8 million a year ago. Revenue was USD 979.1 million compared to USD 1,023.96 million a year ago. Net income was USD 4.36 million compared to net loss of USD 5.78 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to basic loss per share from continuing operations of USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to diluted loss per share from continuing operations of USD 0.1 a year ago.
For the nine months, sales was USD 2,425.46 million compared to USD 2,573.5 million a year ago. Revenue was USD 2,974.32 million compared to USD 3,254.93 million a year ago. Net income was USD 6.08 million compared to USD 9.71 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.18 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.16 a year ago.
Upbound Group, Inc. is a lease-to-own provider with operations in the United States, Puerto Rico, and Mexico. The Company operates through four segments: Acima, Rent-A-Center, Mexico, and Franchising. Acima segment generally offers lease-to-own transactions to consumers who do not qualify for traditional financing. Rent-A-Center Business segment consists of the Company-owned lease-to-own stores in the United States and Puerto Rico. The segment operates 1,839 company owned stores in the United States and Puerto Rico, including 52 retail installment sales stores under the names Get It Now and Home Choice. The segment operates approximately 131 stores in Mexico. The stores in its Franchising segment use its Rent-A-Center, ColorTyme or RimTyme trade names, service marks, trademarks, and logos. The segment franchises approximately 440 stores in 30 states operating under the Rent-A-Center (392 stores), ColorTyme (18 stores) and RimTyme (37 stores) trade names.