U.S. Markets closed

Rent-A-Center reports 1Q loss

PLANO, Texas (AP) _ Rent-A-Center Inc. (RCII) on Monday reported a loss of $6.7 million in its first quarter.

On a per-share basis, the Plano, Texas-based company said it had a loss of 13 cents. Earnings, adjusted for non-recurring costs and pretax expenses, were 4 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The company that leases furniture and appliances with an option to buy posted revenue of $742 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $744 million.

Rent-A-Center shares have fallen 5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $10.67, a drop of 27 percent in the last 12 months.

_____

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

_____

Keywords: Rent-A-Center, Earnings Report