CONN’S Reports Q2 Earnings Results for FY2024
September 1, 2023
🌥️Earnings Overview
CONN’S ($NASDAQ:CONN) reported their financial results for the second quarter of fiscal year 2024, ending July 31, 2023, on August 30, 2023. Total revenue was USD 306.9 million, a decline of 11.5% from the same quarter in the previous year. Net income was USD -33.5 million, compared to a net gain of 2.1 million in the same quarter a year before.
Price History
On Wednesday, CONN’S reported their earnings results for the second quarter of FY2024. The company’s stock opened at $4.1 and closed at the same rate, representing a 18.7% increase from its prior closing price of $3.5. Investors were pleased with the results, as CONN’S exceeded their quarterly earnings estimates. This impressive performance was driven by strong e-commerce sales, as well as increased demand for CONN’S products in its core markets.
The results also highlighted a strong focus by the company on cost control and expense optimization, which contributed to the improved profitability. Overall, CONN’S reported strong earnings results for Q2 in FY2024 and investors responded positively in the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Conn’s. More…
| Total Revenues | Net Income | Net Margin |
| 1.25k | -136.54 | -9.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Conn’s. More…
| Operations | Investing | Financing |
| 1.23 | -67.85 | 32.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Conn’s. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.7k | 1.26k | 18.09 |
Key Ratios Snapshot
Some of the financial key ratios for Conn’s are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -5.4% | 1.5% | -7.0% |
| FCF Margin | ROE | ROA |
| -5.3% | -12.0% | -3.2% |
Analysis
At GoodWhale, we recently conducted an analysis to evaluate the wellbeing of CONN’S. Our Star Chart indicated that CONN’S is strong in asset, medium in profitability, and weak in dividend and growth. Based on this data, we classified CONN’S as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. We believe that this company may be of interest to investors looking for a business that can generate high returns from its assets and has the capability to pay off debts and fund future operations. Our analysis of CONN’S revealed a high health score of 8/10, indicating that this company is in good financial health and is capable of making future investments. More…
Peers
Conn’s Inc is a company that specializes in selling furniture, electronics, and appliances. Some of its competitors include The Aarons Co Inc, Western Capital Resources Inc, and hhgregg Inc.
– The Aarons Co Inc ($NYSE:AAN)
The Aarons Co Inc is a US-based company that engages in the lease-to-own retailing of furniture, consumer electronics, home appliances, and accessories. As of 2022, the company had a market capitalization of 273.3 million and a return on equity of 6.18%. The company operates through a network of over 2,000 stores in the United States and Canada.
– Western Capital Resources Inc ($OTCPK:WCRS)
Western Capital Resources Inc is a holding company that operates through its subsidiaries in the real estate and financial services industries. The company has a market cap of 47.41M as of 2022 and a Return on Equity of 13.62%. Western Capital Resources Inc’s subsidiaries include Western Capital Real Estate Group, a real estate investment and management company, and Western Capital Mortgage, a mortgage banking company. The company’s real estate investments include office, retail, and multifamily properties. Western Capital Resources Inc’s financial services subsidiary provides investment banking, merchant banking, and other financial services to middle-market companies.
– hhgregg Inc ($OTCPK:HGGGQ)
Founded in 1955, hhgregg is a publicly traded company that operates a chain of consumer electronics, appliance, and home furniture stores in the United States. As of 2022, the company had a market capitalization of $47.27 million and a negative return on equity of 83.4%. The company’s primary business is the sale of consumer electronics, appliances, and home furniture, but it also offers services such as home installation, repair, and protection plans.
Summary
CONN’S, Inc. reported their Q2 earnings results for FY2024 on August 30th, showing total revenue of USD 306.9 million and net income of -33.5 million for the quarter. This marks a decrease of 11.5% in revenue compared to the same period from the prior year, and a significant drop in net income from 2.1 million. Despite these results, the stock price moved up the same day, suggesting that investors may have perceived a value in the current market or have been anticipating future potential growth. Analysts should continue to monitor CONN’S progress to get a clear picture of how the company is performing in terms of financial metrics and future prospects.
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