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PROG Holdings, Inc. reports developments as a fintech holding company focused on payment options and consumer financial products. Its operating businesses include Progressive Leasing for e-commerce, app-based and in-store point-of-sale lease-to-own solutions; Four Technologies for Buy Now, Pay Later payment options; MoneyApp for interest-free cash advances; and Purchasing Power for employee purchase programs using payroll deduction or allotments.
Recurring news covers financial results, outlook updates, gross merchandise volume trends, dividends, balance-sheet actions, subsidiary financing activity, consumer research, product-ecosystem strategy and governance changes. Company updates also describe the integration and performance of Purchasing Power following its completed acquisition and the broader shift from a leasing-centered model toward a multi-product consumer access platform.
PROG Holdings, Inc. (NYSE:PRG) will release its financial results for Q1 2021 on April 29, 2021, before market open. The company, which operates Progressive Leasing and Vive Financial, provides lease-to-own solutions and credit products, respectively. A live webcast to discuss the results will occur on the same day at 8:30 A.M. ET. Access the webcast via the investor relations website. PROG Holdings aims to support credit-challenged consumers with affordable payment options.
PROG Holdings, Inc. (NYSE: PRG) has appointed three new executives to enhance its leadership in ecommerce and fintech. Majdi Haroun joins as Sr. VP of Engineering, bringing experience from Calvin Klein and Microsoft. Matt Ball, as VP of R&D, has a strong fintech background, previously serving as CTO at ParkMobile. Dan Stevenson, VP of Ecommerce, is known for his roles at Apple and Sony. These appointments aim to bolster PROG's ecommerce capabilities and drive innovation, positioning the company for growth in a competitive market.
PROG Holdings, Inc. (NYSE:PRG) reported fourth quarter 2020 revenues of $605.7 million, a 6.5% increase from the previous year. The company achieved a net income of $42.3 million, contrasting with a $138.1 million loss in Q4 2019. Diluted EPS rose to $0.62, with non-GAAP EPS reaching $0.95, up 46.2%. Adjusted EBITDA increased 35.9% to $90.0 million. A new $300 million share repurchase program was authorized, while dividends were suspended. The company reported a net debt position of $13 million and outlined Q1 2021 revenue guidance of $650-$670 million.
PROG Holdings, Inc. (NYSE-PRG) will host a conference call on February 25, 2021, at 8:30 a.m. Eastern Time, to discuss its fourth-quarter 2020 financial results, which will be released before the market opens that day. Investors can join the call by dialing 877-270-2148 for domestic participants or 412-902-6510 for international callers. Details for online access can be found on the company's investor relations website. PROG Holdings is known for providing lease-purchase solutions through Progressive Leasing across over 20,000 locations in 46 states.
PROG Holdings, Inc. (NYSE: PRG) has officially begun operating as an independent entity following the spin-off of its Aaron's Business segment, effective December 1, 2020. The company aims to leverage its leadership in lease-to-own solutions to enhance growth and value for retail partners and shareholders. Shareholders of record received one share of The Aaron's Company for every two shares of Progressive held. Progressive plans to invest in technology, grow partnerships, and maintain a robust financial profile for reinvestment and shareholder returns.