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Rent-A-Center: 3Q Earnings Snapshot

·1 min read

PLANO, Texas (AP) _ Rent-A-Center Inc. (RCII) on Wednesday reported third-quarter profit of $64 million.

The Plano, Texas-based company said it had net income of $1.15 per share. Earnings, adjusted for pretax gains and non-recurring gains, were $1.04 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The company that leases furniture and appliances with an option to buy posted revenue of $712 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $703 million.

Rent-A-Center expects full-year earnings in the range of $3.35 to $3.50 per share, with revenue in the range of $2.8 billion to $2.83 billion.

Rent-A-Center shares have increased 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32, a rise of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RCII at https://www.zacks.com/ap/RCII