Rent-A-Center Inc. said its fourth-quarter normalized net income amounted to 7 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.
EPS fell 82.6% year over year from 39 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.6 million, a decrease of 82.7% from $20.7 million in the year-earlier period.
The normalized profit margin declined to 0.9% from 2.6% in the year-earlier period.
Total revenue came to $793.8 million, compared with $796.5 million in the year-earlier period, and total operating expenses increased from the prior-year period to $776.1 million from $746.7 million.
Reported net income came to a loss of $913.3 million, or a loss of $17.21 per share, compared to income of $25.0 million, or 47 cents per share, in the prior-year period.
For the year, the company's normalized net income totaled $1.57 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.00.
EPS declined 13.6% from $1.81 in the prior year.
Normalized net income was $83.1 million, a decline of 13.7% from $96.3 million in the prior year.
Full-year total revenue grew year over year to $3.28 billion from $3.16 billion, and total operating expenses rose on an annual basis to $3.10 billion from $2.96 billion.
The company said reported net income came to a loss of $866.8 million, or a loss of $16.34 per share, in the full year, compared with income of $96.2 million, or $1.81 per share, the prior year.