Business Context and Reporting Period
Company: Rent-A-Center, Inc. (Note: Metadata referenced "Upbound Group, Inc." but the filing text identifies the registrant as Rent-A-Center, Inc.)
Filing Type: Form 8-K (Current Report)
Date of Report: October 24, 2011
Reporting Period: Quarter ended September 30, 2011
Business Context: The filing serves to announce the release of a press release (Exhibit 99.1) containing earnings information for the third quarter of 2011.
Key Financial Metrics
The provided text is a cover sheet for the Form 8-K and does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity.
- Revenue/Profit: Not provided in this text; referenced in attached Exhibit 99.1.
- EBITDA: The filing notes that the attached press release contains EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) figures and a reconciliation to GAAP earnings before income taxes.
- Debt/Liquidity: The text mentions the company's senior credit facilities and 6 5/8% senior unsecured notes due November 2020, noting that EBITDA impacts financial covenants under these instruments. Specific debt balances are not listed.
Material Changes
The filing text does not provide specific data to compare current period results against prior comparable periods. It only indicates that such information is contained within the attached press release.
Guidance, Outlook, and Management Commentary
Non-GAAP Measures: Management states that EBITDA is useful to investors because it impacts financial covenants under the company's senior credit facilities and indenture for its senior unsecured notes. Management advises that this non-GAAP measure should be considered supplemental and not a substitute for GAAP financial information.
Legal Status of Information: Pursuant to General Instruction B.2 of Form 8-K, the information in this report and the accompanying exhibit is deemed "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934. Consequently, it shall not be incorporated by reference in any filing under the Securities Act of 1933.
Important Facts for Investor Verification
- Verify the specific revenue and earnings figures in the attached Exhibit 99.1 (Press Release), as they are not present in the main filing text.
- Review the reconciliation of EBITDA to GAAP earnings before income taxes to understand the adjustments made.
- Confirm the status of financial covenants related to the 6 5/8% senior unsecured notes due November 2020 and senior credit facilities.
- Note that the information is "furnished" rather than "filed," which affects its legal incorporation into future registration statements.