The Aaron's Company, Inc. Reports Fourth Quarter & Full Year 2022 Financial Results, Announces 2023 Outlook, and Updates Multi-Year Strategic Plan

ATLANTA, March 1, 2023 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) today released its fourth quarter and full year 2022 financial results. Complete financial results are available at investor.aarons.com. Highlights of those results, the 2023 outlook, and the updated multi-year strategic plan are included below and in the attached supplement.

Fourth Quarter 2022 Consolidated Results:

• Revenues were $589.6 million, an increase of 32.5%, benefiting from the BrandsMart acquisition
• Net loss was $5.9 million, a decrease of 135.9%; Non-GAAP net earnings¹ were $2.8 million
• Adjusted EBITDA¹ was $27.7 million, a decrease of 33.0%
• Diluted loss per share was $0.19; Non-GAAP Diluted EPS¹ was $0.09

Full Year 2022 Consolidated Results:

• Revenues were $2.25 billion, an increase of 21.9%, benefiting from the BrandsMart acquisition
• Net loss was $5.3 million, a decrease of 104.8%; Non-GAAP net earnings¹ were $64.8 million
• Adjusted EBITDA¹ was $165.8 million, a decrease of 29.2%
• Diluted loss per share was $0.17; Non-GAAP Diluted EPS¹ was $2.07

Full Year 2023 Consolidated Outlook:

• Revenues of $2.20 billion to $2.30 billion
• Adjusted EBITDA (excluding stock-based compensation)^1,2 of $140.0 million to $160.0 million
• Non-GAAP Diluted EPS¹ of $0.70 to $1.10

Multi-Year Strategic Plan:

• Information regarding the Company's updated multi-year strategic plan is available in the Q4 earnings presentation posted on the Company's investor relations website

The Company will host an earnings conference call tomorrow, March 2, 2023, at 8:30 a.m. ET. Chief Executive Officer Douglas A. Lindsay will host the call along with President Steve Olsen and Chief Financial Officer C. Kelly Wall. A live audio webcast of the conference call and presentation slides may be accessed at investor.aarons.com and the hosting website at https://events.q4inc.com/attendee/576928281. A transcript of the webcast will also be available at investor.aarons.com.

About The Aaron's Company, Inc.

Headquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture, and other home goods across its brands: Aaron's, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven. Aaron's offers a direct-to-consumer lease-to-own solution through its approximately 1,275 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform. BrandsMart U.S.A. is one of the leading appliance retailers in the country with ten retail stores in Florida and Georgia, as well as its e-commerce platform. BrandsMart Leasing offers lease-to-own solutions to customers of BrandsMart U.S.A. Woodhaven is the Company's furniture manufacturing division. For more information, visit investor.aarons.com, aarons.com, and brandsmartusa.com.

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SOURCE The Aaron's Company, Inc.