Why Conn's Is Running Higher Today
Shares of Conn's (NASDAQ: CONN) are 19% higher in morning trading Thursday after the rent-to-own furniture retailer blew past Wall Street's first-quarter earnings expectations.
Conn's posted net income of $45.4 million, or $1.55 per share on an adjusted basis, compared to losses of $54.6 million, or $1.89 per share, a year ago. Revenue was $363.7 million, up from $317.2 million, almost 15% higher year over year.
Analysts had forecast Conn's would post earnings of just $0.30 per share on $327 million in sales. Consensus estimates typically exclude one-time items that companies adjust for.
Source Fool.com
