Conn's Reports Mixed Q1 Earnings

Loading...
Loading...
  • Conn's Inc CONN reported a first-quarter FY23 sales decline of 6.6% to $339.81 million, missing the consensus of $360.78 million.
  • Same-store sales decreased 9.5% versus last year and increased 9.9% on a two-year basis.
  • EPS of $0.25 beat the consensus of $0.17.
  • eCommerce sales jumped 71.7% Y/Y to $18.3 million. Retail segment revenues decreased 6.5%, and credit segment revenues declined 6.8%.
  • The costs and expenses for the quarter climbed 10.9% Y/Y to $325.8 million.
  • The operating margin was 4.1%, and operating income for the quarter fell 80% to $13.9 million.
  • The company held $43.4 million in cash and equivalents as of April 30, 2022. Net debt totaled $529.8 million.
  • "As expected, our first quarter retail performance was impacted by lapping government stimulus, continued third-party lease-to-own tightening, and a challenging macro environment," said CEO Chandra Holt.
  • "Going forward, our outlook for the remainder of the year has become more cautious as a result of worsening economic conditions," Holt added.
  • Price Action: CONN shares traded higher by 2.27% at $13.50 in premarket on the last check Wednesday.
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...