The Aaron's Company, Inc. Reports Second Quarter 2024 Financial Results
The Aaron's Company, Inc. (NYSE: AAN) reported its Q2 2024 financial results, revealing mixed performance. Revenues reached $503.1 million, but the company faced a net loss of $11.9 million. The adjusted EBITDA was $24.5 million, with a loss per share of $0.39 and a non-GAAP loss per share of $0.07.
Key highlights include a definitive agreement to be acquired by IQVentures Holdings, for $10.10 per share. Aaron's Business saw a 6.1% increase in recurring revenue written, driven by 11.1% growth in lease merchandise deliveries. E-commerce recurring revenue written surged by 79.4%. However, BrandsMart comparable sales decreased by 7.3%. The company announced a quarterly cash dividend of $0.125 per share, payable on October 3, 2024.
L'Aaron's Company, Inc. (NYSE: AAN) ha riportato i suoi risultati finanziari del Q2 2024, evidenziando performance miste. I ricavi hanno raggiunto 503,1 milioni di dollari, ma l'azienda ha registrato una perdita netta di 11,9 milioni di dollari. L'EBITDA rettificato è stato di 24,5 milioni di dollari, con una perdita per azione di 0,39 dollari e una perdita non-GAAP per azione di 0,07 dollari.
I punti salienti includono un accordo definitivo per essere acquisiti da IQVentures Holdings, per 10,10 dollari per azione. La divisione Business di Aaron ha visto un aumento del 6,1% nei ricavi ricorrenti scritti, trainato da una crescita dell'11,1% nelle consegne di merce in leasing. I ricavi ricorrenti dell'e-commerce sono aumentati drasticamente del 79,4%. Tuttavia, le vendite comparabili di BrandsMart sono diminuite del 7,3%. L'azienda ha annunciato un dividendo trimestrale in contante di 0,125 dollari per azione, pagabile il 3 ottobre 2024.
La compañía Aaron's, Inc. (NYSE: AAN) informó sus resultados financieros del Q2 2024, revelando un desempeño mixto. Los ingresos alcanzaron 503.1 millones de dólares, pero la empresa enfrentó una pérdida neta de 11.9 millones de dólares. El EBITDA ajustado fue de 24.5 millones de dólares, con una pérdida por acción de 0.39 dólares y una pérdida no-GAAP por acción de 0.07 dólares.
Los aspectos destacados incluyen un acuerdo definitivo para ser adquiridos por IQVentures Holdings, por 10.10 dólares por acción. El negocio de Aaron experimentó un aumento del 6.1% en los ingresos recurrentes escritos, impulsado por un crecimiento del 11.1% en las entregas de mercancía a leasing. Los ingresos recurrentes del comercio electrónico aumentaron un 79.4%. Sin embargo, las ventas comparables de BrandsMart cayeron un 7.3%. La empresa anunció un dividendo en efectivo trimestral de 0.125 dólares por acción, que se pagará el 3 de octubre de 2024.
아론스 컴퍼니, Inc. (NYSE: AAN)는 2024년 2분기 재무 결과를 발표하며 혼합 성과를 드러냈습니다. 총 수익은 5억 3백만 달러에 달했지만, 회사는 1,190만 달러의 순손실을 기록했습니다. 조정된 EBITDA는 2,450만 달러였고, 주당 손실은 0.39달러, 비-GAAP 주당 손실은 0.07달러였습니다.
주요 하이라이트에는 IQVentures Holdings에 주당 10.10달러에 인수될 최종 계약이 포함되어 있습니다. 아론 비즈니스는 리스 상품 배송에서 11.1% 성장하여 6.1% 증가한 반복 수익을 기록했습니다. 전자상거래 반복 수익은 79.4% 급증했습니다. 그러나 BrandsMart의 Comparable Sales는 7.3% 감소했습니다. 회사는 2024년 10월 3일에 배당금 0.125달러가 지급될 예정입니다.
Aaron's Company, Inc. (NYSE: AAN) a annoncé ses résultats financiers du Q2 2024, dévoilant des performances mitigées. Les revenus ont atteint 503,1 millions de dollars, mais l'entreprise a subi une perte nette de 11,9 millions de dollars. L'EBITDA ajusté s'est élevé à 24,5 millions de dollars, avec une perte par action de 0,39 dollar et une perte non-GAAP par action de 0,07 dollar.
Les faits saillants incluent un accord définitif pour être acquis par IQVentures Holdings, pour 10,10 dollars par action. L'activité d'Aaron a connu une augmentation de 6,1 % des revenus récurrents écrits, soutenue par une croissance de 11,1 % des livraisons de marchandises en leasing. Les revenus récurrents de l'e-commerce ont bondi de 79,4 %. Cependant, les ventes comparables de BrandsMart ont diminué de 7,3 %. L'entreprise a annoncé un dividende trimestriel en espèces de 0,125 dollar par action, payable le 3 octobre 2024.
Die Aaron's Company, Inc. (NYSE: AAN) hat ihre Finanzergebnisse des Q2 2024 veröffentlicht und gemischte Ergebnisse gezeigt. Die Einnahmen betrugen 503,1 Millionen Dollar, aber das Unternehmen erlitten einen Nettoverlust von 11,9 Millionen Dollar. Das angepasste EBITDA lag bei 24,5 Millionen Dollar, mit einem Verlust pro Aktie von 0,39 Dollar und einem Non-GAAP-Verlust von 0,07 Dollar pro Aktie.
Wichtige Höhepunkte sind ein definitiver Vertrag zur Übernahme durch IQVentures Holdings zu 10,10 Dollar pro Aktie. Das Geschäft von Aaron verzeichnete einen Anstieg von 6,1% bei den wiederkehrenden Einnahmen, der durch ein Wachstum von 11,1% bei den Mietlieferungen von Waren bedingt war. Die wiederkehrenden Einnahmen im E-Commerce stiegen um 79,4%. Allerdings sanken die vergleichbaren Verkäufe von BrandsMart um 7,3%. Das Unternehmen kündigte eine vierteljährliche Bardividende von 0,125 Dollar pro Aktie an, die am 3. Oktober 2024 zu zahlen ist.
- Definitive agreement to be acquired by IQVentures Holdings, for $10.10 per share
- Aaron's Business recurring revenue written increased 6.1%
- E-commerce recurring revenue written increased 79.4%
- Same store lease portfolio size up 1.6% year-over-year
- Quarterly cash dividend of $0.125 per share announced
- Net loss of $11.9 million
- Loss per share of $0.39
- BrandsMart comparable sales decreased 7.3%
- Overall lease portfolio size down 2.0% year-over-year
Insights
The Aaron's Company's Q2 2024 results paint a mixed picture. While revenues reached
Positively, the Aaron's Business segment saw a
However, the
The Aaron's Company's Q2 results reflect broader trends in the lease-to-own and retail sectors. The
However, the
The acquisition by IQVentures, a fintech organization, at
Second Quarter 2024 Consolidated Results:
- Revenues were
$503.1 million - Net loss was
$11.9 million - Adjusted EBITDA1 was
$24.5 million - Loss per share was
$0.39 $0.07
Key Business Highlights2:
- Announced the Company entered into a definitive agreement to be acquired by IQVentures Holdings, LLC for
$10.10 - Aaron's Business recurring revenue written increased
6.1% driven by11.1% growth in lease merchandise deliveries - E-commerce recurring revenue written increased
79.4% benefiting from new omnichannel lease decisioning and customer acquisition program - Lease portfolio size ended Q2 down
2.0% year-over-year and same store3 lease portfolio size ended Q2 up1.6% year-over-year - BrandsMart comparable sales decreased
7.3% - Announced quarterly cash dividend of
$0.12 5
Transaction with IQVentures Holdings, LLC:
As previously announced on June 17, 2024, The Aaron's Company, Inc. has entered into a definitive agreement to be acquired by IQVentures Holdings, LLC ("IQVentures"), a leading fintech organization, for
In light of the pending transaction, the Company will not be hosting an earnings conference call to discuss its results for the quarter and is withdrawing outlook for 2024.
About The Aaron's Company, Inc.
Headquartered in
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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. For Adjusted EBITDA, the most comparable GAAP metric is net loss. For Non-GAAP loss per share, the most comparable GAAP metric is loss per share. |
2. | Comparisons are to the prior year period unless otherwise noted. Key operating metrics do not include BrandsMart Leasing. |
3. | With respect to any metric, "same store" includes all stores open for the 15-month period ended June 30, 2024, excluding stores that received lease agreements from other acquired, closed or merged stores. |
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SOURCE The Aaron's Company, Inc.
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