Conn's Inc

NASDAQ:CONNUnited States

Apr 11, 2024

Show headlines and story abstract

• DJ Conn's Shares Jump 23% After Posting 4Q Profit, from 2:18PM ET on Thursday Apr 11, 2024 by Dow Jones

  2:18PM ET on Thursday Apr 11, 2024 by Dow Jones
  Companies Mentioned: CONN
  By Stephen Nakrosis Shares of Conn's jumped on Thursday after the company reported higher revenue and a profit for the fourth quarter. In afternoon trading, the retailer's shares gained 23.4% to $3.94. Year to date, the stock is down 12%. Before the bell, Conn's reported fourth-quarter earnings per share of $1.75 on revenue of $366.1 million. In the year-ago period, the retailer reported a loss per share of $1.79 on revenue of $334.9 million. On an adjusted basis, Conn's reported a fourth-quarter loss per share of $1.25, while in the year-ago period it reported a loss per share of $1.53. In December, Conn's acquired home furnishings company W.S. Badcock. In the fourth quarter, Conn's removed about $50 million of combined expenses and identified over $50 million of additional cost synergies that are expected to be realized over the next 18 months, Conn's Chief Executive Norm Miller said. Miller also said while challenges remain, the company expects to "experience year-over-year improvements in both retail sales and profitability throughout fiscal year 2025." Conn's sells home goods, including furniture and mattresses, appliances and consumer electronics. Write to Stephen Nakrosis at stephen.nakrosis@wsj.com (END) Dow Jones Newswires April 11, 2024 14:18 ET (18:18 GMT)

• Conn's, Inc. Reports Fourth Quarter and Full Year Fiscal Year 2024 Financial Results, from 6:01AM ET on Thursday Apr 11, 2024 by GlobeNewswire

  6:01AM ET on Thursday Apr 11, 2024 by GlobeNewswire
  Companies Mentioned: CONN

• Conn's, Inc. Reports Fourth Quarter and Full Year Fiscal Year 2024 Financial Results, from 6:00AM ET on Thursday Apr 11, 2024 by Dow Jones

  6:00AM ET on Thursday Apr 11, 2024 by Dow Jones
  Companies Mentioned: CONN
  Total assets $2,444,042 $1,716,215 ========= ========= Liabilities and Stockholders' Equity Current liabilities: Current finance lease obligations $ 1,923 $ 937 Secured borrowings 147,815 -- Accounts payable 98,567 71,685 Accrued compensation and related expenses 19,309 13,285 Accrued expenses 97,775 69,334 Operating lease liability - current 82,153 53,208 Income taxes payable 2,693 2,869 Deferred revenues and other credits 16,288 11,043 --------- --------- Total current liabilities 466,523 222,361 Operating lease liability - non current 598,712 331,109 Long-term debt and finance lease obligations 820,787 636,079 Secured borrowings - non-current 20,841 -- Deferred tax liability 5,603 2,041 Other long-term liabilities 34,078 22,215 --------- --------- Total liabilities 1,946,544 1,213,805 Mezzanine equity: Redeemable preferred shares, $0.01 par value, 1,000 shares issued, authorized, and outstanding at January 31, 2024 and 1,000 shares authorized at January 31, 2023 62,246 0 Stockholders' equity 435,252 502,410 --------- --------- Total liabilities, mezzanine equity, and stockholders' equity $2,444,042 $1,716,215 ========= ========= CONN'S, INC. AND SUBSIDIARIES NON-GAAP RECONCILIATIONS (unaudited) (dollars in thousands, except per share amounts)
  

• *DJ Conn's 4Q EPS $1.75 >CONN, from 6:00AM ET on Thursday Apr 11, 2024 by Dow Jones

  6:00AM ET on Thursday Apr 11, 2024 by Dow Jones
  Companies Mentioned: CONN
  Total assets $2,444,042 $1,716,215 ========= ========= Liabilities and Stockholders' Equity Current liabilities: Current finance lease obligations $ 1,923 $ 937 Secured borrowings 147,815 -- Accounts payable 98,567 71,685 Accrued compensation and related expenses 19,309 13,285 Accrued expenses 97,775 69,334 Operating lease liability - current 82,153 53,208 Income taxes payable 2,693 2,869 Deferred revenues and other credits 16,288 11,043 --------- --------- Total current liabilities 466,523 222,361 Operating lease liability - non current 598,712 331,109 Long-term debt and finance lease obligations 820,787 636,079 Secured borrowings - non-current 20,841 -- Deferred tax liability 5,603 2,041 Other long-term liabilities 34,078 22,215 --------- --------- Total liabilities 1,946,544 1,213,805 Mezzanine equity: Redeemable preferred shares, $0.01 par value, 1,000 shares issued, authorized, and outstanding at January 31, 2024 and 1,000 shares authorized at January 31, 2023 62,246 0 Stockholders' equity 435,252 502,410 --------- --------- Total liabilities, mezzanine equity, and stockholders' equity $2,444,042 $1,716,215 ========= ========= CONN'S, INC. AND SUBSIDIARIES NON-GAAP RECONCILIATIONS (unaudited) (dollars in thousands, except per share amounts)