Franchise Group: Q2 Earnings Snapshot

VIRGINIA BEACH, Va. (AP) _ Franchise Group, Inc. (FRG) on Tuesday reported second-quarter net income of $38.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Virginia Beach, Virginia-based company said it had profit of 89 cents. Earnings, adjusted for one-time gains and costs, came to $1.16 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The tax preparer posted revenue of $862.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $794.1 million.

Franchise Group expects full-year earnings to be $3.45 per share, with revenue expected to be $3.05 billion.

Franchise Group shares have increased 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.57, an increase of 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRG at https://www.zacks.com/ap/FRG

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