Earnings ·
Reports Q3 revenue of $725.8M and announces intention to enter into $100 million accelerated share repurchase program
PRGPROG Holdings, Inc.
PROG Holdings reported third-quarter consolidated revenues from continuing operations of $725.8 million, a 25.6% increase year-over-year, driven by the acquisition of Purchasing Power and strong growth at Four Technologies. Net earnings from continuing operations were $37.5 million, with non-GAAP diluted EPS rising 21.8% to $1.06. The company also announced its intention to enter into an accelerated share repurchase program for up to $100 million of common stock and replenished its existing buyback authorization by adding $237.3 million, bringing the total available capacity to $500 million through October 2029. PROG Holdings is a fintech holding company that provides lease-to-own, buy-now-pay-later, and cash advance payment options to consumers.