PROG Holdings, Inc. - PRG STOCK NEWS

PROG Holdings, Inc. (NYSE:PRG) reported Q1 2022 financial results with consolidated revenues of $710.5 million, a 1.5% decline year-over-year, and net earnings of $27.1 million, down from $79.5 million. Adjusted EBITDA decreased to $64.6 million from $118.1 million, representing 9.1% of revenues. Progressive Leasing's GMV fell 1.1% to $504.5 million, impacted by COVID-19 cases, despite a 10% rise in e-commerce GMV. The company ended Q1 with $184 million cash and $600 million in gross debt, reaffirming its 2022 outlook.

PROG Holdings, Inc. (NYSE:PRG) appointed Vin Thomas as General Counsel and Corporate Secretary, succeeding Marvin Fentress who retires on May 31, 2022. Thomas brings extensive legal expertise in corporate governance and compliance from his previous role at CURO Group Holdings Corp. and prior experience at TMX Finance LLC. PROG's President Steve Michaels emphasized Thomas’s capability to support the company’s strategic initiatives. The leadership change aims to enhance legal and regulatory compliance as the firm seeks to broaden its fintech operations.

PROG Holdings (NYSE:PRG) has released its first Environmental, Social, and Governance (ESG) Review, marking its commitment to sustainability as a stand-alone public company. The review includes performance metrics aligned with global ESG best practices, emphasizing the company’s core values of integrity and valuing people. Key focus areas include enhancing customer service, fostering a diverse workforce, investing in communities, reducing environmental impacts, and maintaining strong governance practices. The ESG Review aims to promote long-term sustainability and stakeholder value.

PROG Holdings, Inc. (NYSE:PRG) will release its Q1 2022 financial results on April 27, 2022, before the market opens. A live webcast and conference call will occur at 8:30 A.M. ET on the same day to discuss these results. Participants can access the call via telephone or through the company’s investor relations website. PROG Holdings operates Progressive Leasing, Vive Financial, and Four Technologies, providing consumers with a variety of payment options.

PROG Holdings, Inc. (NYSE:PRG) will release its Q1 2022 financial results on April 27, 2022, before market opening. A live webcast and conference call are scheduled for 8:30 A.M. ET on the same day, allowing investors and analysts to discuss the results. Interested participants can access the call via phone or the company's investor relations website. PROG Holdings is a fintech holding company providing various payment options through its subsidiaries, including Progressive Leasing and Vive Financial.

Progressive Leasing has partnered with Nationwide Marketing Group to provide its innovative lease-to-own solutions to thousands of independent retailers. This collaboration allows members exclusive access to Progressive Leasing's flexible payment options, enhancing customer transactions. Retailers can manage their lease-to-own business via the ProgCentral platform, with seamless integration into existing e-commerce setups. The partnership aims to support small and medium-sized retailers, helping them meet consumer demands for transparent payment options and fostering business growth.

PROG Holdings, Inc. reported a strong Q4 2021 with a GMV of $635 million, marking an 18.3% increase. Consolidated revenues reached $647 million, up 6.8%. The company generated $52.9 million in earnings before taxes and an adjusted EBITDA of $72.1 million, representing 11.2% of revenues. Diluted EPS was $0.59. PROG returned $439 million to shareholders through stock repurchases. The outlook for 2022 projects revenue growth of 4-8% and adjusted EBITDA margins returning to 11-13%. However, challenges include higher delinquency rates that align with pre-pandemic levels.

PROG Holdings, Inc. (NYSE:PRG) will announce Q4 and FY 2021 financial results on February 23, 2022, before market open. A live webcast and conference call will occur the same day at 8:30 A.M. ET to discuss the results. PROG Holdings is a fintech holding company, operating Progressive Leasing and Vive Financial, which provide lease-to-own solutions and revolving credit products, respectively. The results will reflect the company’s performance in providing transparent payment options to credit-challenged consumers.

PROG Holdings, Inc. (NYSE:PRG) has completed its "modified Dutch auction" tender offer, which expired on December 3, 2021. The company accepted 8,673,469 shares at a price of $49.00 each, totaling approximately $425 million. This purchase accounts for around 13.2% of PROG Holdings' outstanding common stock. The final proration factor for the offer was reported at 77.8%. Payments for accepted shares will be processed on December 9, 2021, while non-accepted shares will be returned to shareholders.