Rent-A-Center Q3 Profit Rises

(RTTNews) - Rent-A-Center, Inc. (RCII) reported that its third-quarter net earnings rose to $31.3 million or $0.56 per share from $12.9 million or $0.24 per share in the third quarter of 2018.

Non-GAAP earnings per share were $0.47 compared to $0.32 last year.

On a consolidated basis, total revenues of $649.4 million increased 0.7 percent driven by a consolidated same store sales increase of 4.5 percent offset by refranchising over 100 locations in the past twelve months and the closures of certain Core U.S. stores.

Excluding effects on revenues resulting from the refranchising efforts, revenues increased 2.7 percent.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share and revenues of $630.86 million. Analysts' estimates typically exclude special items.