Conn's Inc jumps as Q3 revenue beats estimates

Conn's

06/12/2022 19:47

(Updates)
    ** Shares of furniture and home goods retailer Conn's Inc
 CONN.O  rise as much as 13.8% to a session high of $9.82
    ** Stock last up ~9%
    ** CONN reports Q3 total revenue of $321.2 mln vs est $315.6
mln - Refinitiv
    ** Company posts adj net loss of $0.78/shr vs est of a loss
of $0.83/shr
    ** Top-line results came in slightly better than company's
forecast, Jefferies analysts said, but brokerage added that
expectations were "very low" heading into 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 - brokerage
    ** YTD, company's shares down ~60% including Tuesday's moves
 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com))