PROG Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 03, 2021 at 07:10 am EDT
Share
PROG Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 635.03 million compared to USD 601.11 million a year ago. Revenue was USD 650.41 million compared to USD 611.34 million a year ago. Net income was USD 57.41 million compared to USD 109.35 million a year ago.
For the nine months, sales was USD 1,989.06 million compared to USD 1,849.39 million a year ago. Revenue was USD 2,031.38 million compared to USD 1,878.94 million a year ago. Net income was USD 205.74 million compared to net loss of USD 102.28 million 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. 
