PROG Holdings, Inc. - PRG STOCK NEWS

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.

Progressive Leasing, a leading lease-to-own solutions provider and subsidiary of PROG Holdings (NYSE:PRG), has donated $25,000 to AmeriCares to combat COVID-19 in India. With matching contributions, the total impact is $50,000 for life-saving equipment and education on pandemic prevention. The donation is part of Progressive Leasing's commitment to corporate responsibility, further supported by employee matching donations. CEO Steve Michaels highlighted the urgent need for aid in India amidst rising COVID-19 cases, resonating deeply with employees and customers affected by the crisis.

PROG Holdings, Inc. (NYSE:PRG) has appointed James P. Smith to its Board of Directors as of May 11, 2021. Smith brings extensive experience in financial services and digital innovation, previously serving as the Executive Vice President at Wells Fargo. His appointment is seen as a strategic move to enhance the company's leadership at a pivotal time. The Board's Nominating and Corporate Governance Committee engaged a search firm to find candidates, ensuring alignment with the company's strategic direction. PROG Holdings focuses on lease-to-own and buy-now, pay-later solutions.

PROG Holdings (NYSE:PRG) reported strong Q1 2021 results, showing a 7.9% revenue increase to $721 million. Key drivers included robust customer payment performance and e-commerce growth, with Progressive Leasing's GMV rising 10.4% to $510 million. Net earnings rose to $79.5 million, a 37.9% year-on-year increase. Adjusted EBITDA surged 88.7% to $118.1 million. The company anticipates continued growth, projecting total revenues for FY 2021 between $2.7 billion and $2.775 billion. PROG Holdings ended Q1 with $151.2 million in cash and notable share repurchase activity.

PROG Holdings, Inc. (NYSE:PRG) will release its financial results for Q1 2021 on April 29, 2021, before market open. The company, which operates Progressive Leasing and Vive Financial, provides lease-to-own solutions and credit products, respectively. A live webcast to discuss the results will occur on the same day at 8:30 A.M. ET. Access the webcast via the investor relations website. PROG Holdings aims to support credit-challenged consumers with affordable payment options.