ATLANTA (AP) _ Aaron's Inc. (AAN) on Thursday reported a fourth-quarter loss of $107.1 million, after reporting a profit in the same period a year earlier.
The Atlanta-based company said it had a loss of $1.60 per share. Earnings, adjusted for non-recurring costs and amortization costs, were $1.15 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The rent-to-own company posted revenue of $1 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $1.01 billion.
For the year, the company reported profit of $31.5 million, or 46 cents per share. Revenue was reported as $3.95 billion.
Aaron's expects full-year earnings in the range of $3.80 to $4 per share, with revenue in the range of $4.15 billion to $4.3 billion.
Aaron's shares have decreased 1.5% since the beginning of the year. The stock has increased almost 7% in the last 12 months.