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Sep 30, 2020
Prog Holdings Q3 2020 Earnings Report
Reported record revenues and earnings for the third quarter of 2020.
Key Takeaways
Aaron's Holdings reported record third quarter revenues of $1.05 billion, up 9.2% year-over-year. Diluted EPS was $1.60, and non-GAAP diluted EPS was $1.80, up 147%. The company expects the spin transaction to be completed during the fourth quarter.
Third quarter revenues were $1.05 billion, up 9.2%.
Diluted EPS was $1.60; Non-GAAP Diluted EPS was $1.80, up 147%.
Progressive Revenues were $601 million, up 13.7%.
Aaron's Business Revenues were up 3.4%; Same Store Revenues up 7.3%.
Revenue by Segment
Forward Guidance
For the fourth quarter, the company expects consolidated revenues between $1.025 billion and $1.045 billion and Non-GAAP Diluted Earnings Per Share of between $1.20 and $1.30.
Positive Outlook
- Assumes no significant deterioration in the current retail environment.
- Assumes no significant deterioration in the state of the U.S. economy as compared to its current condition.
- Assumes a gradual improvement in global supply chain conditions.
- Estimated fourth quarter Non-GAAP Diluted Earnings Per Share assumes no reduction in the COVID-specific reserves established at the end of the first quarter of 2020.
- Expect consolidated revenues between $1.025 billion and $1.045 billion.
Challenges Ahead
- Subject to changes in the retail environment.
- Dependant on the state of the U.S. economy.
- Global supply chain conditions may not improve as expected.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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