Upbound Group, Inc. (NASDAQ:UPBD) Q4 2023 Results Conference Call February 22, 2024 9:00 AM ET

Company Participants

Jeff Chesnut - Head of Investor Relations

Mitch Fadel - Chief Executive Officer

Fahmi Karam - Chief Financial Officer

Conference Call Participants

Kyle Joseph - Jefferies

Bobby Griffin - Raymond James

Bradley Thomas - KeyBanc Capital Markets

Anthony Chukumba - Loop Capital Markets

Alex Fuhrman - Craig-Hallum

Hale Holden - Barclays

Operator

Good day and thank you for standing by. Welcome to the Fourth Quarter 2023 Upbound Group Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Jeff Chesnut, Head of Investor Relations. Please go ahead.

Jeff Chesnut

Good morning and thank you all for joining us to discuss the Company's performance for the fourth quarter and full year of 2023 as well as our outlook for 2024. We issued our earnings release before the market opened today and the release and all related materials, including a link to the live webcast are available on our website at investor.upbound.com. On the call today from Upbound Group, we have Mitch Fadel, our CEO; and Fahmi Karam, our CFO.

As a reminder, some of the statements provided on this call are forward-looking and are subject to factors that could cause actual results to differ materially and adversely from our expectations. These factors are described in our earnings release as well as in the Company's SEC filings. Upbound Group undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.

This call will also include references to non-GAAP financial measures. Please refer to our fourth quarter and full year earnings release, which can be found on our website for a description of the non-GAAP financial measures and reconciliations to the most comparable GAAP financial measures. Finally, Upbound Group is not responsible for and does not edit or guarantee the accuracy of our earnings teleconference transcripts provided by third parties. Please refer to our website for the only authorized webcasts.

With that, I will turn the call over to Mitch.

Mitch Fadel

Thank you, Jeff, and good morning to everyone on the call today. I'll begin with a review of key highlights from 2023, as well as a discussion of our priorities for 2024, and then I'll hand it off to Fahmi for a more detailed review of our financial results and our financial outlook. After that, we'll take some questions. As we reflect on our achievements throughout 2023, we believe our business took meaningful steps forward across both major segments and the new shared services holding company. At Acima, we saw growth in both customer base and our retailer network.