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 (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.
Access timely updates on earnings reports, partnership agreements, product innovations, and regulatory compliance matters. Our curated news collection simplifies tracking PRG's market position in lease-to-own services and consumer credit solutions.
Discover coverage of key business milestones including retail network expansions, technology platform enhancements, and financial performance metrics. All content is verified through primary sources to ensure accuracy and relevance.
Bookmark this page for streamlined access to PROG Holdings' latest developments in fintech innovation. Regularly updated to reflect new press releases and authoritative analysis of the company's evolving market strategy.
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.
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