By Stephen Nakrosis
Shares of retailer Aaron’s Co. fell to a 52-week low on the New York Stock Exchange Tuesday, a day after the company reported its second-quarter financial results and said it was lowering some of its 2022 guidance.
At 12:29 pm ET, the company’s stock had fallen 12.29% to trade at $13.59 a share. Volume at the time topped 627,000 shares, above the stock’s 65-day average volume of 308,581 shares.
Earlier in the session, the stock hit a 52-week low of $12.29 per share.
After the bell Monday, the company reported a second-quarter net loss per share of 17 cents on revenue of $610.4 million. In the year-ago period, the company reported earnings per share of 95 cents per share on revenue of $467.5 million.
Aaron’s said it was lowering its revenue guidance for 2022 to a range of $2.19 billion to $2.27 billion from its previous guidance range of $2.32 billion to $2.39 billion. The company also said it was expecting adjusted EPS for 2022 in a range of $1.75 to $2.15, below its previous guidance of $2.65 to $2.90.
Write to Stephen Nakrosis at [email protected]
Credit: www.marketwatch.com /