PR Newswire
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 earnings 1 were $9.7 million
- Adjusted EBITDA 1 was $35.2 million , a decrease of 34.3%
- Loss per share was $0.51 ; Non-GAAP EPS 1 was $0.31
- Aaron's Business same-store revenues decreased 7.7% compared to an increase of 4.6% in the prior year quarter
- BrandsMart product sales 2 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 BrandsMart 2
- 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.
____________________ | |
1. | Item is a Non-GAAP financial measure. Refer to the "Use of Non-GAAP Financial Information" and supporting reconciliation tables in the attached supplement. |
2. | 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. |
SOURCE The Aaron's Company, Inc.