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PROG Holdings, Inc. (NYSE: PRG) is a leading financial technology holding company based in Salt Lake City, Utah. The company offers innovative and transparent payment solutions designed to meet the needs of consumers and retail partners across the United States. Founded in 1999, PROG Holdings has grown significantly and now operates primarily through two key segments: Progressive Leasing and Vive Financial.
Progressive Leasing provides point-of-sale lease-to-own solutions through an in-store, app-based, and e-commerce platform. This segment collaborates with over 15,000 retail locations in 46 states, offering a flexible lease-purchase option that allows customers to obtain merchandise while making manageable payments. Progressive Leasing contributes the majority of the company's revenue and continues to expand its footprint in the retail industry.
Vive Financial, the company’s other major segment, offers second-look revolving credit products through an omnichannel approach. Vive Financial enables customers who may not qualify for primary financing options to access credit and purchase essential products and services.
In a recent strategic move, PROG Holdings announced a partnership with Infosys, a global leader in digital services and consulting. This collaboration aims to enhance PROG Holdings’ technology operations, focusing on cloud and AI-driven innovation. By leveraging Infosys' expertise, PROG Holdings expects to achieve greater operational efficiencies, accelerate technology modernization, and improve its speed to market. This partnership is anticipated to further solidify PROG Holdings' leadership in the virtual lease-to-own market.
As PROG Holdings continues to grow, the company remains committed to providing competitive and transparent payment solutions while pursuing new opportunities for innovation and expansion. More information about PROG Holdings and its subsidiaries can be found on their official website.
PROG Holdings (NYSE:PRG) has announced a quarterly cash dividend of $0.12 per share of common stock. The dividend will be paid on December 3, 2024, to shareholders of record as of November 19, 2024. PROG Holdings is a fintech holding company based in Salt Lake City, operating through its subsidiaries Progressive Leasing, Vive Financial, Four Technologies, and Build, providing various financial services including lease-to-own solutions, revolving credit products, Buy Now, Pay Later options, and personal credit building products.
PROG Holdings reported strong Q3 2024 results with consolidated revenues of $606.1 million, up 4.0% year-over-year. Net earnings reached $84.0 million, significantly higher than $35.0 million in 2023, primarily due to a $53.6 million non-cash tax benefit. Progressive Leasing achieved 11.6% GMV growth to $456.7 million. Adjusted EBITDA was $63.5 million (10.5% of revenues), compared to $71.7 million (12.3%) in 2023. The company raised its full-year outlook, projecting total revenues between $2.44-2.46 billion and net earnings of $165.5-170.5 million.
PROG Holdings, Inc. (NYSE:PRG), a fintech holding company, has announced it will release its third quarter 2024 financial results on Wednesday, October 23, 2024 before the market opens. The company has scheduled a live webcast at 8:30 A.M. ET on the same day to discuss the results.
Investors can access the webcast through the provided link or via the Events & Presentations section of PROG Holdings' investor relations website. 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 products, Buy Now, Pay Later options, and personal credit building products.
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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