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The Aaron's Company, Inc. (NYSE: AAN) is a premier specialty retailer and omnichannel provider of lease-to-own and retail purchase solutions. Headquartered in Atlanta, Aaron's operates approximately 1,220 company-operated and franchised stores across 47 states in the U.S. and Canada, along with a robust e-commerce platform. Founded in 1955 and publicly traded since 1982, Aaron's serves moderate-income consumers by offering affordable payment plans and quality merchandise, including furniture, electronics, appliances, and accessories.
Aaron's operates through two main business segments: Aaron's Business and BrandsMart. Aaron's Business provides a direct-to-consumer lease-to-own solution through its extensive network of stores and online channels. The recent GenNext store initiative is transforming the in-store customer experience with larger showrooms, updated layouts, and enhanced technology-enabled shopping and checkout processes. As of 2024, Aaron's has opened 249 GenNext stores.
In April 2022, Aaron's acquired BrandsMart U.S.A., one of the leading appliance and electronics retailers with 11 stores in Florida and Georgia. This acquisition enhances Aaron's market presence and offers customers a wide assortment of products at competitive prices. Additionally, BrandsMart Leasing provides lease-to-own options to BrandsMart U.S.A. customers, further expanding Aaron's reach.
Aaron's financial performance demonstrates its resilience and strategic growth. In 2023, Aaron's reported a revenue of $2.14 billion, despite facing market challenges. The Company continues to optimize its cost structure and improve its lease decision-making processes. Aaron's is committed to returning capital to shareholders, evidenced by its regular quarterly cash dividends.
With a dedicated leadership team, Aaron's is poised for continued growth and innovation. The Company also emphasizes community involvement, supporting initiatives like the Boys and Girls Clubs of Greater Augusta.
For more information about Aaron's, visit investor.aarons.com, aarons.com, and brandsmartusa.com.
The Aaron's Company (NYSE: AAN) will webcast its 2023 Annual Meeting of Shareholders on May 3, 2023, at 10:00 a.m. Eastern Time. The event will take place in Atlanta, Georgia, and details can be found in the proxy statement dated March 23, 2023.
Interested parties can access the webcast via the Investor Relations page on the company's website. While attendees can listen to the meeting, they will not be able to participate.
Headquartered in Atlanta, Aaron's is a technology-enabled provider of lease-to-own and retail solutions for appliances, electronics, and furniture, operating approximately 1,260 stores across the U.S. and Canada. For more information, visit aarons.com.
The Aaron's Company (NYSE: AAN) announced its Q1 2023 financial results on April 24, 2023. Revenues reached $554.4 million, marking a significant increase of 21.5% driven by the BrandsMart acquisition. However, net earnings fell to $12.8 million, a 40.6% decrease, with non-GAAP net earnings at $20.5 million, down 25.5%. Adjusted EBITDA was $45.9 million, a decrease of 20.7%, and diluted EPS stood at $0.41. Despite the revenue growth, a weaker tax refund season impacted lease revenues, resulting in a larger lease portfolio. The company reduced net debt by $36.9 million, ending with cash of $44.3 million. Full year guidance has been updated, with raised EPS expectations.
The Aaron's Company, Inc. (NYSE: AAN) will host a conference call on April 25, 2023, at 8:30 a.m. ET to discuss its Q1 2023 financial results. The earnings release will be issued on April 24, 2023, after market close. The call will be led by CEO Douglas A. Lindsay, President Steve Olsen, and CFO C. Kelly Wall. Interested parties can join by calling 1-833-470-1428 for U.S. participants or 1-929-526-1599 for international attendees, using access code 416550. The call will also be archived on the Company's investor relations website, providing easy access to essential financial updates.
The Aaron's Company (NYSE: AAN), a prominent provider of lease-to-own and retail purchase solutions, will engage in the SHARE Series at the NYSE on April 10, 2023, at 2:30 PM ET. CEO Douglas A. Lindsay and CFO C. Kelly Wall will participate in a 30-minute fireside chat moderated by Jefferies Analyst Kyle Joseph, offering retail investors a chance to interact and ask questions. The event will be broadcast live, accessible through the investor relations section of Aaron's website or via the SHARE Series link. An archived replay will be available for 90 days post-event.
Aaron's operates approximately 1,275 stores across the U.S. and Canada, providing lease-to-own solutions for home goods.
The Aaron's Company (NYSE: AAN) will participate in the 44th Annual Institutional Investors Conference hosted by Raymond James in Orlando, FL, on March 8, 2023, at 9:50 a.m. ET. CEO Douglas A. Lindsay, President Steve Olsen, and CFO C. Kelly Wall will provide insights into the company's performance and future strategies. A live audio webcast and slides from the presentation will be available online, and the event will also be archived on the company's investor relations website. Aaron's specializes in lease-to-own and retail purchase solutions through its extensive network and e-commerce platform.
The Aaron's Company (NYSE: AAN) announced a quarterly cash dividend increase to $0.125 per share, up more than 11% from the previous $0.1125. The dividend is payable on April 4, 2023, to shareholders recorded as of March 16, 2023. This move reflects the company's commitment to returning value to shareholders amidst its ongoing growth as a leading technology-enabled provider of lease-to-own solutions across North America.
The Aaron's Company (NYSE: AAN) reported its Q4 and full-year 2022 results on March 1, 2023. Q4 revenues reached $589.6 million, marking a 32.5% increase driven by the BrandsMart acquisition. However, the company posted a net loss of $5.9 million and an adjusted EBITDA of $27.7 million, a 33.0% decline. For the full year, revenues were $2.25 billion with a net loss of $5.3 million. Looking ahead, the 2023 outlook estimates revenues between $2.20 billion and $2.30 billion with adjusted EBITDA of $140.0 million to $160.0 million and non-GAAP diluted EPS of $0.70 to $1.10.
The Aaron's Company (NYSE: AAN) will host a conference call and webcast on March 2, 2023, at 8:30 a.m. ET to discuss financial results for Q4 and full year 2022. The earnings release will be available post-market on March 1, 2023.
CEO Douglas A. Lindsay, President Steve Olsen, and CFO C. Kelly Wall will lead the discussion. Investors can participate by calling 1-844-200-6205 or 1-929-526-1599 for international access, using access code 967403. The call will be archived on the Company’s investor relations site.
The Aaron's Company, Inc. (NYSE: AAN) has declared a quarterly cash dividend of $0.1125 per share, payable on January 5, 2023. Shareholders of record as of the close of business on December 15, 2022 will receive this dividend. As a technology-enabled provider of lease-to-own and retail purchase solutions, Aaron's operates approximately 1,300 stores across the US and Canada, including its BrandsMart and Woodhaven divisions, which offer a variety of home goods.
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