Slide 1: Upbound Group, Inc. Earnings Release
Upbound Group, Inc. Earnings Release November 2, 2023 Third Quarter 2023 Results & Key Metrics $979.1M $0.08 $0.79 $219.9M $183.8M Total GAAP Non-GAAP Operating Cash Free Cash Flow Revenue Diluted EPS Diluted EPS1 Flow Year-to-Date Year-to-Date(1) Raises Midpoint of Full Year 2023 Targets for Consol
Slide 2: Segment Highlights
Segment Highlights Rent-A-Center Segment Acima Segment Third Quarter Results Third Quarter Results • Revenues of $453.6 million decreased 4.2% year- • GMV decreased 1.4% year-over-year, improving from over-year, improving from a 4.9% decrease for the a 5.8% decrease in the second quarter. Lower GMV
Slide 3: Segment Highlights (continued)
Segment Highlights (continued) Franchising Segment Third Quarter Results • Revenues of $30.6 million increased 3.0% year-over-year due to higher inventory purchases per store. • Segment operating profit, on a GAAP basis, and Adjusted EBITDA of approximately $3.5 million and $3.6 million, respectivel
Slide 4: Full Year 2023 Financial Outlook
Full Year 2023 Financial Outlook CFO Commentary The Company is providing the following guidance for its 2023 fiscal year. Due to the inherent uncertainty related to the special items “Third quarter results demonstrated the identified in the tables below, management does not believe it is Company’s c
Slide 5: Financial Highlights
Financial Highlights Key Metrics Table 2 Q3 Q3 Q2 Metrics (#039;s Millions - except per share & store count data) 2023 2022 2023 Consolidated Revenue $ 979.1 $ 1,024.0 $ 979.2 GAAP Operating Profit $ 58.1 $ 37.1 $ 84.0 (1) Adj. EBITDA $ 106.0 $ 115.0 $ 130.6 (4) Skip / Stolen Loss Rate 7.0 % 7.5 % 6.9
Slide 6: About Upbound Group, Inc
About Upbound Group, Inc Upbound Group, Inc. (NASDAQ: UPBD) is an omni-channel platform company committed to elevating financial opportunity for all through innovative, inclusive, and technology-driven financial solutions that address the evolving needs and aspirations of consumers. The Company’s cu
Slide 7: Forward Looking Statements
Forward Looking Statements This press release, and the guidance above and the Company's related conference call contain forward-looking statements that involve risks and uncertainties. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act o
Slide 8: Consolidated Statements of Operations - Unaudited
Upbound Group, Inc. and Subsidiaries CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED Table 3 Three Months Ended September 30, (In thousands, except per share data) 2023 2022 Revenues Store Rentals and fees $ 806,766 $ 829,459 Merchandise sales 127,564 147,616 Installment sales 13,444 16,718 Other
Slide 9: Selected Balance Sheets Highlights - Unaudited
Upbound Group, Inc. and Subsidiaries SELECTED BALANCE SHEETS HIGHLIGHTS - UNAUDITED Table 4 September 30, (In thousands) 2023 2022 Cash and cash equivalents $ 105,726 $ 165,627 Receivables, net 104,772 113,230 Prepaid expenses and other assets 55,671 71,276 Rental merchandise, net On rent 968,965 94
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures This release and the Company's related conference call contain certain financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including (1) Non-GAAP diluted earnings per share (net earnings or loss,
Slide 11: Reconciliation of net earnings to non-GAAP diluted earnings per share
Reconciliation of net earnings (loss) to net earnings excluding special items and non-GAAP diluted earnings per share Table 5 Three Months Ended September 30, 2023 Earnings Diluted Gross Operating Before Tax Net Earnings (In thousands) Profit Profit Income Tax Expense Earnings per Share GAAP Results
Slide 12: Reconciliation of operating profit to Adjusted EBITDA
Reconciliation of operating profit (loss) to Adjusted EBITDA (consolidated and by segment) Table 7 Three Months Ended September 30, 2023 Rent-A- (In thousands) Center Acima Mexico Franchising Corporate Consolidated GAAP Operating Profit (Loss) $ 63,762 $ 58,124 $ 1,124 $ 3,541 $ (68,499) $ 58,052 Pl
Slide 13: Reconciliation of operating cash flow to free cash flow
Reconciliation of net cash provided by operating activities to free cash flow Table 9 Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2023 2022 2023 2022 Net cash provided by operating activities $ 77,982 $ 124,962 $ 219,942 $ 412,083 Purchase of property assets (14,7