Business Context and Reporting Period
This Form 8-K is a current report filed by Rent-A-Center, Inc. on October 30, 2017. The filing serves to disclose the company's results of operations and financial condition for the quarter ended September 30, 2017. The report references a press release (Exhibit 99.1) containing detailed earnings information.
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It explicitly states that these details are contained within the attached press release (Exhibit 99.1). The filing highlights the use of EBITDA (earnings before interest, taxes, depreciation, and amortization) as a non-GAAP financial measure. Management notes that EBITDA is critical for evaluating the company and impacts financial covenants under its senior credit facilities and indentures for its 6.625% senior unsecured notes (due November 2020) and 4.75% senior unsecured notes (due May 2021).
Material Changes
The filing text does not provide specific data regarding material changes in financial performance compared to the prior comparable period. Investors must refer to the attached press release for year-over-year or quarter-over-quarter comparisons.
Guidance, Outlook, and Risks
The filing does not contain specific forward-looking guidance, management commentary on future outlook, or a detailed list of risks and contingencies. It includes a standard disclaimer that the non-GAAP measure (EBITDA) should be considered supplemental and not a substitute for GAAP financial information. The filing also notes that the information in Item 2.02 and Exhibit 99.1 is "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, meaning it will not be incorporated by reference into other filings.
Investor Verification Checklist
- Review Exhibit 99.1 (the press release) for specific revenue, net income, and EBITDA figures for the quarter ended September 30, 2017.
- Verify the reconciliation of EBITDA to earnings before income taxes provided in the press release.
- Check the status of financial covenants related to the 6.625% notes due 2020 and 4.75% notes due 2021.
- Confirm the identity of the signatory, Maureen B. Short, listed as Interim Chief Financial Officer.