PROG Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 27, 2022 at 07:00 am EDT
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PROG Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 631.34 million compared to USD 646.05 million a year ago. Revenue was USD 649.44 million compared to USD 659.97 million a year ago. Net income was USD 19.48 million compared to USD 68.84 million a year ago. Basic earnings per share from continuing operations was USD 0.37 compared to USD 1.03 a year ago. Diluted earnings per share from continuing operations was USD 0.37 compared to USD 1.02 a year ago.
For the six months, sales was USD 1,324.26 million compared to USD 1,354.03 million a year ago. Revenue was USD 1,359.91 million compared to USD 1,380.97 million a year ago. Net income was USD 46.62 million compared to USD 148.33 million a year ago. Basic earnings per share from continuing operations was USD 0.86 compared to USD 2.2 a year ago. Diluted earnings per share from continuing operations was USD 0.86 compared to USD 2.19 a year ago.
PROG Holdings, Inc. is a fintech holding company that provides payment options and inclusive consumer financial products. Its Progressive Leasing segment is provider of e-commerce, app-based, in-store point-of-sale lease-to-own solutions provider. The segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce Website partners. It does so by purchasing the merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Its Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs with services that include revolving loans through private label and Vive-branded credit cards. Its Four segment provides consumers of all credit backgrounds with BNPL options through four interest-free installments.
PROG HOLDINGS, INC. 
