Upbound Group: Q2 Earnings Snapshot

PLANO, Texas (AP) — PLANO, Texas (AP) — Upbound Group, Inc. (UPBD) on Thursday reported a loss of $45.6 million in its second quarter.

The Plano, Texas-based company said it had a loss of 83 cents per share. Earnings, adjusted for non-recurring costs, came to $1.11 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The company that leases furniture and appliances with an option to buy posted revenue of $979.2 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $968 million.

For the current quarter ending in September, Upbound Group expects its per-share earnings to range from 70 cents to 80 cents.

The company said it expects revenue in the range of $950 million to $980 million for the fiscal third quarter.

Upbound Group expects full-year earnings in the range of $3.25 to $3.55 per share, with revenue ranging from $3.9 billion to $4 billion.


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

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up