Conn's Q3 Earnings Top Estimates

Loading...
Loading...
  • Conn's Inc CONN reported a third-quarter FY23 sales decline of 20.8% year-on-year to $321.20 million, beating the consensus of $315.55 million. Same-store sales decreased 27.0% versus last year.
  • Adjusted EPS loss of $(0.78) beat the consensus of $(0.83).
  • Retail revenues decreased 24%, and the Credit segment revenues declined 5.7%.
  • Costs and expenses for the quarter fell 9.8% Y/Y to $339.2 million.
  • Operating loss for the quarter was $(17.9) million against a profit of $29.5 million last year.
  • The company held $54 million in cash and equivalents as of October 31, 2022.
  • "Retail sales remain challenged by macroeconomic headwinds, which continues to impact discretionary spending, and lower year-over-year lease-to-own sales," said Norm Miller, Interim President and CEO.
  • The company plans to open a total of 11 standalone locations in fiscal 2023.
  • Price Action: CONN shares closed lower by 12.47% at $8.63 on Monday.
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGeneralBriefs
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...