PROG Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 09:21 am EDT
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PROG Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 564.18 million compared to USD 606.59 million a year ago. Revenue was USD 582.88 million compared to USD 625.82 million a year ago. Net income was USD 35.01 million compared to USD 16.01 million a year ago. Basic earnings per share from continuing operations was USD 0.77 compared to USD 0.32 a year ago. Diluted earnings per share from continuing operations was USD 0.76 compared to USD 0.32 a year ago.
For the nine months, sales was USD 1,776.1 million compared to USD 1,930.84 million a year ago. Revenue was USD 1,830.86 million compared to USD 1,985.73 million a year ago. Net income was USD 120.26 million compared to USD 62.62 million a year ago. Basic earnings per share from continuing operations was USD 2.58 compared to USD 1.18 a year ago. Diluted earnings per share from continuing operations was USD 2.56 compared to USD 1.18 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. 
