NASDAQ$UPBD
Upbound Group Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Upbound Group, Inc. reported strong third-quarter results with significant growth in revenue, net earnings, and EPS, driven by strong performance in both Acima and Rent-A-Center segments.
Upbound Group, Inc. delivered a robust third quarter in 2024, with consolidated revenues increasing by 9.2% year-over-year to $1,068.9 million. Net earnings saw a substantial rise to $30.9 million, and diluted EPS reached $0.55, with non-GAAP diluted EPS at $0.95. This performance was bolstered by double-digit GMV growth in Acima and positive same-store sales growth in Rent-A-Center, positioning the company to achieve its full-year 2024 guidance.
- Consolidated revenues increased 9.2% year-over-year to $1,068.9 million, driven by higher rentals and fees revenue and merchandise sales.
- GAAP operating profit increased to $70.1 million, up from $58.1 million in the prior year, with the operating profit margin improving to 6.6%.
- Net earnings surged to $30.9 million, a $26.5 million increase from the prior year, primarily due to a prior year tax impact.
- Adjusted EBITDA increased 10.3% year-over-year to $116.9 million, with improvements in both Acima and Rent-A-Center segments and lower Corporate costs.
Headline financials
Revenue & EPS history
Upbound · Revenue · Quarterly
$1.07B
Revenue by segment
Upbound · $476M total across 1 segment · Q4 2023
- Acima$476M—100.0%
Forward guidance
Upbound Group, Inc. has tightened its full-year 2024 financial guidance, reflecting confidence in achieving its targets despite ongoing economic uncertainties. The company expects continued growth and strong performance, driven by strategic investments and operational efficiencies.
Tailwinds
- Consolidated Revenues guidance maintained at $4.20 billion - $4.30 billion.
- Adjusted EBITDA Excluding SBC guidance tightened to $470 million - $480 million (previously $465 million - $485 million).
- Non-GAAP Diluted Earnings Per Share guidance tightened to $3.75 - $3.90 (previously $3.65 - $4.00).
- Free Cash Flow guidance maintained at $100 million - $130 million.
- Company is well-positioned to drive sustainable growth and long-term returns with a robust balance sheet and approaching $600 million in liquidity.
Headwinds
- Inherent uncertainty related to special items may significantly impact future GAAP results.
- Economic backdrop continues to be characterized by uncertainty despite strong employment metrics.
- Consumers are selective with their spending, requiring dynamic decisioning.
- Seasonal trends in delinquency rates require continuous monitoring and underwriting refinements.
- Management does not believe it is able to provide a meaningful forecast of comparable GAAP measures or reconciliation due to inherent uncertainty of special items.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.8%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.0%
Avg return
30 days after
58%
18 / 31 earnings
Positive
+19.1%
Q1 2025
Best reaction
-18.4%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.3% | -1.1% | +1.4% | |
| Q4 2025 | +6.3% | +3.5% | -17.6% | |
| Q3 2025 | -16.3% | -14.5% | -22.5% | |
| Q1 2025 | +19.1% | +17.2% | +15.3% | |
| Q3 2024 | -1.4% | -8.1% | -16.5% | |
| Q2 2024 | +0.0% | -3.8% | +23.1% | |
| Q1 2024 | +0.0% | -6.3% | -11.9% | |
| Q4 2023 | +0.0% | -3.5% | +2.4% | |
| Q3 2023 | +5.9% | +10.9% | +15.1% | |
| Q3 2022 | +0.0% | -2.8% | -11.6% | |
| Q2 2023 | -4.8% | -3.3% | -7.9% | |
| Q1 2023 | +10.2% | +16.6% | +22.8% | |
| Q2 2022 | +13.3% | +13.3% | -0.4% | |
| Q1 2022 | +4.2% | +1.9% | -3.4% | |
| Q3 2021 | -18.4% | -19.5% | -17.6% | |
| Q2 2021 | +0.3% | +4.7% | +12.9% | |
| Q1 2021 | +2.0% | -4.0% | +3.2% | |
| Q3 2020 | -4.9% | -3.9% | +9.4% | |
| Q2 2020 | +0.5% | +2.7% | -7.1% | |
| Q1 2020 | +0.9% | +1.0% | +12.9% | |
| Q3 2019 | -6.6% | -0.9% | +11.5% | |
| Q2 2019 | +5.3% | +8.7% | -1.0% | |
| Q1 2019 | -0.8% | -9.5% | -10.8% | |
| Q3 2018 | +1.5% | +1.9% | +2.5% | |
| Q2 2018 | -0.6% | -0.1% | -0.7% | |
| Q1 2018 | +0.1% | -1.7% | +5.6% | |
| Q3 2017 | +2.4% | +4.0% | +15.7% | |
| Q2 2017 | +0.9% | +4.1% | -6.0% | |
| Q1 2017 | +0.8% | +0.6% | +7.1% | |
| Q3 2016 | +3.0% | +7.1% | +23.7% | |
| Q2 2016 | -1.1% | +5.8% | +12.5% |
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