RCII - Rent-A-Center raises FY20 revenue guidance in prelims

For FY20, Rent-A-Center (RCII) provides prelim results wherein it estimates revenues to be ~$2.81B vs. prior guidance of $2.795 to $2.825B.Operating profit ((GAAP)) is seen between $234 to $241M.Net earnings and diluted earnings per share are expected to be in the range of $207 to $213M and $3.72 to $3.82, respectively.Excluding special items, the company expects adj. EBITDA to be in the range of $329 to $333M compared to prior guidance of $308 to $323M. Cash and equivalents of $159M and outstanding indebtedness stood at $197.5M at the end of 2020 vs. $70.5M and $239.5M respectively at prior year's end."We ended 2020 on a strong note, with an expected 5.4% increase in full year revenue supported by an estimated 13.7% increase in Q4 same store sales at the Rent-A-Center Business segment and ~25% increase in Q4 invoice volume for Preferred Lease," CEO Mitch Fadel commented.Shares trading 0.92% down premarket

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Rent-A-Center raises FY20 revenue guidance in prelims