The Aaron’s Company, Inc. Reports Third Quarter 2022 Financial Results

The Aaron’s Company, Inc. released its third quarter 2022 financial results. Complete financial results are available at investor.aarons.com. Highlights of those results are included below and in the attached supplement.

Consolidated Results

• Revenues were $593.4 million, an increase of 31.2%, benefiting from the BrandsMart acquisition
• Net loss was $15.6 million; Adjusted net earnings¹ were $9.7 million
• Adjusted EBITDA¹ was $35.2 million, a decrease of 34.3%
• Loss per share was $0.51; Non-GAAP EPS¹ was $0.31

Key Items

• Aaron’s Business same-store revenues decreased 7.7% compared to an increase of 4.6% in the prior year quarter
• BrandsMart product sales² decreased 0.5% compared to an increase of 9.6% in the prior year quarter
• E-commerce revenue grew year-over-year by 11.1% at the Aaron’s Business and by 18.0% at BrandsMart²
• The Aaron’s Business opened its 200th GenNext location in October

About The Aaron’s Company Inc.

Headquartered in Atlanta, The Aaron’s Company, Inc. (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture, and other home goods across its brands: Aaron’s, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven. Aaron’s offers a direct-to-consumer lease-to-own solution through its approximately 1,300 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform. BrandsMart U.S.A. is one of the leading appliance retailers in the country with ten retail stores in Florida and Georgia. BrandsMart Leasing offers lease-to-own solutions to customers of BrandsMart U.S.A. Woodhaven is our furniture manufacturing division. For more information, visit investor.aarons.com, aarons.com, and brandsmartusa.com.

Source: The Aaron’s Company, Inc.