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) has initiated a modified Dutch auction tender offer to buy back up to $425 million of its common stock at prices ranging from $44 to $50 per share. This strategic move is part of a newly authorized $1 billion share repurchase program, replacing the previous $300 million plan, aimed at returning capital to shareholders. The offer, expiring on December 3, 2021, is contingent on PROG securing a new debt financing of at least $400 million. Shareholders have the flexibility to tender their shares at their chosen price within the specified range.
PROG Holdings, Inc. (NYSE:PRG) announced a tender offer to repurchase up to
PROG Holdings, Inc. reported a 6.4% increase in consolidated revenues to $650 million for Q3 2021, driven by strong performance in e-commerce and partnerships. Its GMV rose 9.9% to $493 million, with e-commerce GMV soaring 192%. Despite this, net earnings fell to $57.4 million, and adjusted EBITDA decreased by 15.4% to $93.6 million, affected by rising delinquencies. The Board authorized a $1 billion share repurchase program, including a tender offer for $425 million. The company estimates 2021 revenues between $2.68 billion and $2.70 billion.
PROG Holdings, Inc. (NYSE:PRG) is set to release its third-quarter financial results on November 3, 2021, before market opening. The company will host a live webcast and conference call the same day at 8:30 A.M. ET to discuss these results. PROG Holdings operates Progressive Leasing, offering lease-to-own options, Vive Financial, providing second-look credit products, and Four Technologies, which specializes in Buy Now, Pay Later solutions. Detailed information is available on their investor relations website.
PROG Holdings (NYSE:PRG) has appointed Caroline Sheu and Ray Martinez to its Board of Directors, enhancing its leadership team with expertise in digital marketing and consumer engagement. Both directors bring over two decades of experience in leveraging data and technology for growth. Sheu is the Global Director of Digital Marketing at Google Store, while Martinez co-founded EVERFI, focusing on educational programs. This marks the addition of three independent directors to PROG Holdings' Board in 2021, underscoring the company's commitment to expanding its presence in the non-prime financial market.
ProgCentral has been launched by Progressive Leasing, enhancing retailers' self-management capabilities in lease-to-own transactions. This new platform streamlines the lease-purchase process, providing improved user experience and security features. Merchants can transfer approved leases within the same retail chain, allowing transactions to start online and finish in-store. The rollout to e-commerce and brick-and-mortar stores is set to complete by Q1 2022. ProgCentral is designed to improve efficiency and conversion rates while benefiting customers seeking flexible payment options.
PROG Holdings (NYSE:PRG) reported strong Q2 2021 financial results, achieving a 10.1% revenue increase to $660 million, driven by a 25% rise in Progressive Leasing's GMV, which reached $506 million. Net earnings rose to $68.8 million, and Adjusted EBITDA surged 42.7% to $104.9 million. The company reduced lease merchandise write-offs to 4.8% due to low delinquencies. PROG Holdings also acquired Four Technologies for $23 million, expanding its fintech offerings. The full-year Adjusted EBITDA outlook is raised to $390-$405 million, alongside increased EPS projections.
Progressive Leasing, owned by PROG Holdings (NYSE:PRG), has expanded its e-commerce offerings with new plug-ins for Magento 2 and WooCommerce. These enhancements simplify integration for retailers, streamlining the lease-to-own application process. Customers can now complete transactions on retailers' websites, enjoy faster lease decisioning, and manage their lease orders efficiently. The company aims to increase its market share in the lease-to-own sector by making the virtual lease process easier for both retailers and customers.
PROG Holdings (NYSE:PRG) announced its acquisition of Four Technologies, a provider of innovative Buy Now, Pay Later (BNPL) solutions. This move aims to enhance PROG's fintech offerings, expanding their payment solutions to consumers buying furniture, clothing, and electronics. CEO Steve Michaels stated that integrating Four with their existing services will bolster their market reach and diversify offerings. The transaction details remain undisclosed, but further insights are expected during the upcoming financial results call on July 29, 2021.
PROG Holdings, Inc. (NYSE:PRG) will release its financial results for Q2 2021 on July 29, 2021, before market open. A live webcast and conference call will be held at 8:30 A.M. ET on the same day to discuss these results. Participants can join the conference through a dedicated phone line or online via the company's investor relations website. PROG Holdings is a fintech company based in Salt Lake City, offering lease-to-own solutions through Progressive Leasing and revolving credit products via Vive Financial.
