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PROG Holdings Inc (PRG) delivers innovative financial technology solutions through its Progressive Leasing and Vive Financial segments. This page provides official company announcements, strategic updates, and operational developments for investors and industry observers.
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PROG Holdings, Inc. (NYSE:PRG) reported consolidated revenues of $655.1 million for Q1 2023, a 7.8% decline year-over-year, resulting from tightened lease decisioning and decreased consumer demand. However, net earnings rose to $48.0 million, up from $27.1 million in Q1 2022. Adjusted EBITDA increased 38.9% to $89.7 million, reflecting improved customer payment behavior and cost-cutting measures. The company’s diluted EPS was $1.00, a significant increase from $0.49 in the prior year. PROG Holdings expects to achieve higher earnings despite soft consumer demand and has revised its annual earnings outlook upwards, anticipating gross margins to boost performance.
PROG Holdings, Inc. (NYSE:PRG) will release its Q1 2023 financial results on April 26, 2023, before market open. A live webcast discussing the results is also scheduled for the same day at 8:30 A.M. ET. Investors can access the webcast through the company's investor relations website. PROG Holdings operates as a fintech company, providing payment solutions through its subsidiaries, including Progressive Leasing and Vive Financial. Details regarding these offerings can further be found on their website.
PROG Holdings, Inc. (NYSE:PRG) announced the appointment of Sridhar Nallani as its new Chief Technology Officer, effective February 14, 2023. Nallani brings extensive experience in leading technology initiatives from his previous roles at Backcountry and Gap Inc., where he modernized enterprise technology stacks and enhanced customer experiences. His expertise in B2C transformations and cloud-based solutions is expected to drive innovation in PROG Holdings' fintech products. CEO Steve Michaels expressed confidence in Nallani’s ability to lead technology advancements for the company.
PROG Holdings, Inc. (NYSE:PRG), a fintech holding company, announced its participation in several investor conferences in March 2023. Key events include the Raymond James 44th Annual Institutional Investors Conference on March 6 in Orlando, FL, and the JP Morgan 2023 Global High Yield & Leveraged Finance Conference on March 7 in Miami Beach, FL. Other conferences include the Loop Capital Markets 4th Annual Investor Conference (March 13, Virtual) and the Bank of America 2023 Consumer & Retail Conference (March 15, Miami Beach, FL). For more details, visit PROG Holdings.
PROG Holdings, Inc. (NYSE:PRG) reported Q4 2022 consolidated revenues of $612.1 million, a 5.3% decline year-over-year, influenced by lower approval rates and weak retail traffic. Despite the downturn, diluted EPS rose to $0.73 from $0.59 a year ago, with non-GAAP diluted EPS up 25% to $0.84. Adjusted EBITDA grew 3.2% to $74.4 million, representing 12.2% of revenues. Progressive Leasing's GMV fell 14.8%, attributed to tighter lease approval processes. Looking ahead, the company forecasts 2023 total revenues between $2.34 billion and $2.44 billion.
PROG Holdings, Inc. (NYSE:PRG) will announce its 2022 fourth quarter and full-year financial results on February 22, 2023, prior to market opening. A live webcast for the financial results discussion is scheduled for the same day at 8:30 A.M. ET. PROG Holdings, a fintech holding company headquartered in Salt Lake City, UT, operates brands like Progressive Leasing and Vive Financial, offering various payment solutions. Investors can access the webcast via the company’s investor relations website here.
PROG Holdings, Inc. (NYSE:PRG) reported consolidated revenues of $625.8 million for Q3 2022, a 3.8% decline year-over-year. Net earnings fell to $16.0 million from $57.4 million in 2021. Adjusted EBITDA was $65.0 million (10.4% of revenues), down from $93.6 million in Q3 2021. The company faced challenges with retail traffic and approval rates, leading to a 11.3% drop in Progressive Leasing GMV. PROG Holdings lowered its full-year 2022 outlook, anticipating revenues between $2.58 billion and $2.59 billion amid inflation impacts.
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