0.15% +0.010

Aarons Company Inc (AAN)

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Why is Aarons Company Inc (AAN) Stock down?

We've noticed a 6.96% decline in Aarons Company Inc (AAN) stock during the 2024-04-10 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

24 Oct, 2023:

Aaron's, Inc. Stock (AAN) dropped by 21.15% from $8.89 to $7.01 in the trading on Tuesday October 24, 2023. The reason why AAN stock down today is due to its disappointing Q3 results and narrowed 2023 financial outlook. AAN delivered results in Q3 2023 today, but the company missed the consensus for its revenue, seemed to weigh on the stock as did the broader market sell-off, causing AAN stock down today.

Revenues declined 11.4% Y/Y to $525.7M, misses the consensus by $10.4M, owing to weak lease revenues and fees, and drab retail sales at the Aaron's and BrandsMart businesses.
Q3 Non-GAAP EPS of $0.01, misses the consensus by $0.06.
Adjusted 2023 guidance: AAN updated its 2023 financial outlook by narrowing the ranges of various measures. Revenue is now projected to be $2.12B - $2.17B from $2.12B - $2.22B prior. Consensus is $2.18B. Net earnings is now $14M - $17.5M, from $16.8M - $25.5M.