Tag Archives: outr

Outerwall falls as Redbox DVD rental business weakens

Outerwall (OUTR) stock dropped through the floor on Friday, a day after the Redbox parent reported declining DVD rentals from its kiosks. The Bellevue, Wash.-based company beat Wall Street estimates on earnings but missed on revenue. Outerwall earned $2.19 a share excluding items on sales of $545 million in the June quarter. Analysts polled by Thomson Reuters expected Outerwall to earn $1.72 a share ex items on sales of $564 million. Outerwall

Redbox price hikes lift parent Outerwall

Redbox parent Outerwall (OUTR) got a big boost in the first quarter from cost controls and higher movie rental prices at its kiosks. The Bellevue, Wash.-based company smashed Wall Street’s expectations late Thursday with its March-quarter results. Outerwall earned $2.87 a share excluding items, up 126% year over year, on sales of $609 million, up 1.4%. Analysts polled by Thomson Reuters expected Outerwall to earn $1.64 a share on sales of $593 million. “Outerwall’s strong performance this quarter was the result of continued execution of our strategy of optimizing our core Redbox and Coinstar businesses, scaling ecoATM and improving operational efficiencies across the company,” interim CEO Nora Denzel said in a statement. Outerwall stock jumped more than 12% in early trading Friday to a three-month high of 74.58, but in midday trading on the stock market today it was up 10%, near 74. Redbox rentals decline In Q1, Outerwall’s Redbox…

Redbox parent up on steps to return more green to investors

Two weeks after kicking its CEO to the curb, Redbox parent Outerwall (OUTR) reported better-than-expected earnings and sales for the fourth quarter. Outerwall stock rose more than 6% Friday, closing above 65. Outerwall late Thursday also declared its first-ever quarterly dividend and announced an additional $250 million stock buyback plan. Outerwall earned $2.44 a share, up 45% year over year, on sales of $601 million, up 1%. Analysts polled by Thomson Reuters expected $2.37 and $600 million. On Jan. 20, Outerwall announced that Scott Di Valerio had stepped down as CEO and resigned from the board. Board member Nora Denzel was appointed interim CEO. In a statement Thursday, Denzel said the company is pleased with its Q4 results and is focused on optimizing its core businesses (Redbox and Coinstar) and scaling its ecoATM business. EcoATM operates kiosks that allow people to trade in used smartphones and other mobile devices for…