Aaron's Q2 Profit Up; Raises 2015 Outlook

(RTTNews) - Aaron's Inc. (AAN) , a specialty retailer of furniture, consumer electronics, computers, appliances, and household accessories, reported that its net earnings for the second quarter of 2015 increased to $40.5 million from $8.5 million in the prior year period. Earnings per share were $0.56 compared with $0.12 for the same quarter last year.

On a non-GAAP basis, net earnings for the second quarter of 2015 increased to $44.7 million compared with $27.2 million for the same period in 2014, and earnings per share assuming dilution increased to $0.61 compared with $0.37 a year ago.

Quarterly revenues increased 16.1% to $769.0 million from $662.5 million last year.

Same store revenues (revenues earned in Company-operated stores open for the entirety of both quarters) decreased 4.4% during the second quarter of 2015 compared with the second quarter of 2014, and customer counts on a same store basis were down 3.7%.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share and revenues of $763.87 million for the quarter. Analysts' estimates typically exclude special items.

For 2015, the company expects GAAP earnings per share to be in the range of $1.92 to $2.12 compared with the previous guidance of $1.78 to $1.98. Non-GAAP adjusted earnings per share is expected to be in the range of $2.15 to $2.35 compared with the previous guidance of $2.01 to $2.21. Analysts expect annual earnings of $2.15 per share.