Prog Holdings Inc Stock Price, News & Analysis

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.

PROG Holdings, Inc. (NYSE:PRG) will announce its Q3 2022 financial results on October 26, 2022, before market opening. A live webcast is scheduled for the same day at 8:30 A.M. ET to discuss these results, accessible via their investor relations website. PROG Holdings is a fintech holding company, operating Progressive Leasing, Vive Financial, and Four Technologies, providing various consumer payment solutions. More details about the company can be found on their website.

PROG Holdings, Inc. (NYSE:PRG) expressed disappointment over the Pennsylvania Attorney General's lawsuit against its Progressive Leasing business. The company believes it adheres to transparent practices and is proud of its services. They appreciate the support from Pennsylvania’s Governor and legislature for modernizing laws that align with their business practices. PROG Holdings commits to vigorously defending its position in court while continuing to serve Pennsylvania consumers with flexible lease-to-own options. The company remains optimistic about the outcome of the lawsuit.