Conn's Inc climbs as Q3 revenue tops estimates

Conn's

06/12/2022 14:18

** Shares of furniture and home goods retailer Conn's Inc
 CONN.O  up ~4% at $8.94 before the bell
    ** CONN reports Q3 total revenue of $321.2 mln, down ~21%
from last year but better than estimates of $315.6 mln, per 3
analysts polled by Refinitiv
    ** Co posts adjusted net loss of 78 cents per share;
analysts expected a loss of 83 cents per share
    ** Top-line results came in slightly better than co's
forecast, Jefferies analysts said, but added expectations were
"very low" heading into the results following recent retail
earnings reports 
    ** While Jefferies views the better-than-expected revenue as
positive, a challenging macro outlook for consumer durables
continues to weigh on the business, the brokerage added
    ** Up to Monday's close, stock had fallen ~63% YTD
 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com))