RCII 2Q Results: Postgame Scorecard
RCII's (NASDAQ:RCII) profit climbed in the second quarter.
Earnings and Revenue The company posted an EPS above analyst expectations, though revenues fell short of predictions. The company reported EPS of 74 cents a share versus the 71 cents a share estimate and revenues of $749.7 million versus the $753.9 million estimate. The estimates of 10 analysts ranged from profit of 68 cents to profit of 75 cents.
The company's net income for the quarter rose 10.8% to $44.2 million. Revenue climbed 7.4% from $698.3 million in the same period last year.
Company Fundamental Trends Last quarter marked the third in a row of rising net income. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 3 cents in the first quarter, 3 cents in the fourth quarter of the last fiscal year and 2 cents in the third quarter of the last fiscal year.
Official Comment: "We are generally pleased with our results in the quarter, as total revenues increased over 7% and earnings per share increased close to 9%," said Mark E. Speese, the Company's Chairman and Chief Executive Officer. "The RAC Acceptance segment performed exceptionally well nearly doubling revenue from a year ago to $77 million, with a gross profit margin of 58% and an operating profit of $7 million," Speese continued.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.