Business Context and Reporting Period
Company: Rent-A-Center, Inc. (Note: Metadata listed "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: April 27, 2009
Reporting Period: Quarter ended March 31, 2009
This filing serves to announce the release of earnings information for the quarter ended March 31, 2009, via an attached press release (Exhibit 99.1).
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release containing these details but does not reproduce the figures within the 8-K body.
- EBITDA: The filing notes that the attached press release contains EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), a non-GAAP measure.
- Reconciliation: A reconciliation of EBITDA to earnings before income taxes is included in the press release.
- Debt Instruments: The company references financial covenants under its senior credit facilities and the indenture governing its 7 1/2% Senior Subordinated Notes due May 2010.
Material Changes
The filing text does not explicitly state material changes in financial performance compared to the prior period. It only indicates that the results for the quarter ended March 31, 2009, are available in the attached exhibit.
Guidance, Outlook, and Management Commentary
Management Commentary: Management states that EBITDA is useful to investors because it impacts financial covenants under the company's senior credit facilities and the indenture for its 7 1/2% Senior Subordinated Notes due May 2010.
Non-GAAP Disclosure: Management emphasizes that EBITDA is supplemental and should not be considered a substitute for GAAP financial information. They note that this measure may differ from similar measures used by other companies.
Legal Status: 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 will not be incorporated by reference into filings under the Securities Act of 1933.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated April 27, 2009) for specific revenue, net income, and cash flow figures for the quarter ended March 31, 2009.
- Verify the reconciliation of EBITDA to GAAP earnings before income taxes in the press release.
- Confirm the status of financial covenants related to the senior credit facilities and the 7 1/2% Senior Subordinated Notes due May 2010.
- Note that this 8-K filing does not contain the actual financial data, only a reference to the press release.