Aaron’s (NYSE:AAN) stock is falling hard on Tuesday following the release of the retail company’s earnings report for the fourth quarter of 2023.
The bad news for AAN stockholders starts with the company’s adjusted earnings per share of -26 cents. That’s nowhere close to the 3 cents per share that Wall Street was expecting for the quarter. It’s also worse than the 9 cents per share reported in the same period of the year prior.
Also not helping AAN stock today is the company’s revenue of $529.5 million. That also misses analysts’ revenue estimate of $542.07 million for Q4. It’s also a 10.2% decrease year-over-year.
Investors looking for more details about why Aaron’s missed estimates in Q4 will want to tune into its upcoming conference call. That’s set to take place at 8:30 a.m. Eastern today.
2024 Outlook Hits AAN Stock
Aaron’s guidance for the full year of 2024 includes adjusted EPS range from -10 cents to 25 cents. That would see it missing Wall Street’s estimate of $1.09 per share.
When it comes to revenue, Aaron’s is estimating $2.055 billion to $2.155 billion for 2024. The midpoint here is lower than analysts’ revenue estimate of $2.15 billion for the year.
AAN stock is down 22.2% as of Tuesday morning.
Investors can find even more of the most recent stock market stories ready to go down below!
We have all of the hottest stock market news for Tuesday! A few examples include what’s sending shares of Infobird (NASDAQ:IFBD) and Janux Therapeutics (NASDAQ:JANX) stock higher, as well as the biggest pre-market stock movers this morning. All of that news is ready to go at the following links!
More Tuesday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
