Revenue worth for Traders: Conn’s, Inc. (NASDAQ: CONN)

Conn’s, Inc. (NASDAQ: CONN) changed -2.55% to recent value of $24.11. The stock transacted 369827 shares during most recent day however it has an average volume of 600.82K shares. It spotted trading -21.72% off 52-week high price. On the other end, the stock has been noted 56.56% away from the low price over the last 52-weeks.

Conn’s, Inc. (NASDAQ: CONN), recently reported its financial results for the quarter ended July 31, 2019.

Second Quarter Results

Net income for the three months ended July 31, 2019 was $20.0M, or $0.62 per diluted share, contrast to net income for the three months ended July 31, 2018 of $17.0M, or $0.53 per diluted share.  On a non-GAAP basis, adjusted net income for the three months ended July 31, 2019 was $20.0M, or $0.62 per diluted share.  This compares to adjusted net income for the three months ended July 31, 2018 of $18.3M, or $0.57 per diluted share.

Retail Section Second Quarter Results

Retail revenues were $306.3M for the three months ended July 31, 2019 contrast to $296.4M for the three months ended July 31, 2018, a raise of $9.9M or 3.3%. The increase in retail revenue was primarily driven by new store growth, partially offset by a decrease in same store sales of 2.3%.

For the three months ended July 31, 2019 and 2018, retail section operating income was $36.1M and $39.2M, respectively. On a non-GAAP basis, adjusted retail section operating income for the three months ended July 31, 2019 was $36.1M. On a non-GAAP basis, adjusted retail section operating income for the three months ended July 31, 2018 was $39.5M after not including a charge associated with a contingency reserve related to a regulatory matter.

Credit Section Second Quarter Results

Credit revenues were $94.8M for the three months ended July 31, 2019 contrast to $88.2M for the three months ended July 31, 2018, a raise of $6.6M or 7.5%.  The increase in credit revenue primarily resulted from the origination of our higher-yielding direct loan product, which resulted in a raise in the portfolio yield rate to 21.9% from 21.3% for the comparative period in fiscal year 2019, and from a 3.0% increase in the average outstanding balance of the consumer accounts receivable portfolio. The total consumer accounts receivable portfolio balance was $1.56 bbb at July 31, 2019 contrast to $1.51 bbb at July 31, 2018, a raise of 3.3%.

Provision for bad debts reduced to $49.8M for the three months ended July 31, 2019 contrast to $50.5M for the three months ended July 31, 2018, a decrease of $0.7M. The decrease was driven by lower net charge-offs of $1.6M for the three months ended July 31, 2019 contrast to the three months ended July 31, 2018, partially offset by a larger increase in the allowance for bad debts for the three months ended July 31, 2019.

Credit section operating income was $5.7M for the three months ended July 31, 2019, contrast to $0.0M for the three months ended July 31, 2018.

Share Repurchase Program

On May 30, 2019, our Board of Directors accepted a stock repurchase program, effective as of May 31, 2019, pursuant to which we may repurchase up to $75.0M of our outstanding ordinary stock. The program will remain effective for one year, unless extended by the Board of Directors. During the three months ended July 31, 2019, we repurchased 1,874,846 shares of our ordinary stock at an average weighted cost per share of $18.30 for an aggregate amount of $34.3M. Through August 29, 2019, we repurchased a total of 3,082,536 shares of our ordinary stock at an average weighted cost per share of $18.79 for an aggregate amount of $57.9M.

CONN has a gross margin of 55.10% and an operating margin of 10.90% while its profit margin remained 5.40% for the last 12 months. The company has 28.26M of outstanding shares and 9.5M shares were floated in the market. According to the most recent quarter its current ratio was 5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -4.90% from the mean of 20 days  and performed 9.18% from mean of 200 days price. Company’s performance for the week was -6.33%, -3.35% for month and YTD performance remained 27.84%.

Amy Jimenez

Amy Jimenez– Services My name is Amy Jimenez, and I am the main writer behind the" allthetopnews.com" for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities.

Leave a Reply

Your email address will not be published. Required fields are marked *