Welcome to our dedicated page for Prog Holdings news (Ticker: PRG), a resource for investors and traders seeking the latest updates and insights on Prog Holdings stock.
PROG Holdings, Inc. (NYSE: PRG) is a fintech holding company headquartered in Salt Lake City, Utah, that focuses on transparent and competitive payment options and inclusive consumer financial products. News about PRG often centers on developments at its key subsidiaries, including Progressive Leasing, Four Technologies, Build, and, more recently, Purchasing Power.
Investors following PRG news can expect regular updates on quarterly financial results, where the company reports consolidated revenues, net earnings, adjusted EBITDA, and performance metrics for Progressive Leasing and Four Technologies. These releases frequently discuss lease portfolio performance, write-off ranges, and the contribution of BNPL and other products to the overall business.
Another important category of news involves strategic transactions and portfolio changes. PROG Holdings has announced the sale of the Vive Financial credit card receivables portfolio to Atlanticus Holdings Corporation, describing this as a step to improve capital efficiency while maintaining access to second-look credit solutions through a partner. The company has also reported on its agreement to acquire, and subsequent closing of the acquisition of, Purchasing Power, a voluntary employee benefit program that enables employees to purchase brand-name products and services through automatic payroll deductions or allotments.
PRG news items also cover capital allocation decisions, such as quarterly cash dividends declared by the Board of Directors, share repurchase activity, and updates on cash and debt levels. In addition, the company issues announcements about Investor Day events, conference calls, and webcasts that provide more detail on its strategic vision, key growth drivers, and long-term objectives.
For investors and analysts, the PRG news feed offers a centralized view of earnings releases, acquisition and divestiture announcements, dividend declarations, and other material events that shape the company’s fintech-oriented ecosystem.
Progressive Leasing, a leading provider of lease-to-own solutions owned by PROG Holdings, Inc. (NYSE:PRG), will participate in a panel discussion at the 2024 MAG Payments Conference in Orlando, Florida. The session, titled "Check Your Balances: How Financial Inclusion is Defining a Generation," will feature Nathan Roe, Chief Commercial Officer of Progressive Leasing, alongside representatives from Best Buy and ChargeAfter.
The panel will explore Gen Z and Gen Alpha's payment habits and discuss how merchants can utilize financial inclusion products to meet evolving customer needs. The event takes place on September 18th at 3pm EST and aims to provide valuable insights for retail and payments industry professionals.
Progressive Leasing, a subsidiary of PROG Holdings, Inc. (NYSE: PRG), has been chosen as the exclusive lease-to-own partner for American Signature, Inc., owner of American Signature Furniture and Value City Furniture. This partnership will provide omnichannel lease-to-own solutions for over 120 stores nationwide. Starting in Q4 2023, customers will have access to Progressive Leasing's flexible payment options both in-store and online.
The collaboration aims to enhance American Signature's lease-to-own program, supporting their business goals while offering customers improved service. Progressive Leasing's selection was based on their industry-leading customer and partner support, as well as their ability to serve a broader customer base. The company's recent Silver Stevie® Award highlights their commitment to customer satisfaction and service excellence.
PROG Holdings, Inc. (NYSE:PRG), a fintech holding company, has declared a quarterly cash dividend of $0.12 per share of common stock. The dividend is payable on September 3, 2024, to shareholders of record as of the close of business on August 20, 2024. PROG Holdings is the parent company of Progressive Leasing, Vive Financial, Four Technologies, and Build, offering various financial products and services including lease-to-own solutions, revolving credit, Buy Now, Pay Later options, and personal credit building products. The company is headquartered in Salt Lake City, UT, and focuses on providing transparent and competitive payment options and inclusive consumer financial products.
PROG Holdings (NYSE:PRG) reported strong Q2 2024 results, exceeding expectations across key metrics. Highlights include:
- Consolidated revenues of $592.2 million, down 0.1% YoY
- Earnings before taxes of $48.3 million
- Adjusted EBITDA of $72.3 million, down 3.7% YoY
- Diluted EPS of $0.77; Non-GAAP Diluted EPS of $0.92
- Progressive Leasing GMV of $454.5 million, up 7.9% YoY
The company raised its full-year outlook for consolidated revenue and earnings, expecting continued GMV momentum in Q3 and revenue growth in H2 2024. PROG Holdings ended Q2 with $250.1 million in cash and repurchased $36.7 million of its stock.
PROG Holdings, a fintech holding company, will release its financial results for Q2 2024 on July 24, 2024, before market open. A live webcast to discuss these results is scheduled for the same day at 8:30 AM ET. Investors can access the webcast via a provided link or through the company's investor relations website, where it will also be archived. PROG Holdings operates Progressive Leasing, Vive Financial, Four Technologies, and Build, providing various consumer financial products and payment solutions.
PROG Holdings (NYSE:PRG) announced that its subsidiary, Progressive Leasing, has won the Silver Stevie® Award for Customer Service Department of the Year in Financial Services at the 2024 American Business Awards®.
This is the second consecutive year Progressive Leasing has been recognized for its high customer satisfaction, superior employee engagement, and customer service excellence.
Key achievements include a notable increase in Net Promoter Score (NPS) and employee Net Promoter Score (eNPS), reduced complaints, and high customer satisfaction ratings. Employee development initiatives have resulted in improved retention rates and a supportive work environment.
The Stevie Awards are a prestigious recognition, with over 12,000 entries reviewed annually by more than 300 professionals worldwide.
PROG Holdings (NYSE:PRG) announced a quarterly cash dividend of $0.12 per share, payable on June 11, 2024, to shareholders of record as of May 28, 2024. This fintech holding company, headquartered in Salt Lake City, UT, encompasses Progressive Leasing, Vive Financial, Four Technologies, and Build. These subsidiaries offer a range of financial solutions such as lease-to-own options, revolving credit products, Buy Now, Pay Later services, and personal credit-building products.
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