Revenue and GMV Performance - The company reported revenues of $592.2 million for Q2 2024, relatively flat compared to $592.8 million in Q2 2023[124]. - Progressive Leasing's Gross Merchandise Volume (GMV) increased by $33.3 million to $454.5 million, a 7.9% increase year-over-year[125]. - Vive's GMV decreased by $4.1 million to $35.8 million, a decline of 10.3% compared to the same period in 2023[125]. - Total GMV for the company increased by $70.7 million to $546.4 million, representing a 14.9% increase year-over-year[125]. - Total revenues for the three months ended June 30, 2024, were $592,161, a decrease of 0.1% from $592,846 in the same period of 2023[136]. - Lease revenues and fees for the second quarter of 2024 were $570,516, down 0.6% from $574,839 in the prior year[136]. - Total revenues for the six months ended June 30, 2024, were $1,234,031,000, a slight decrease from $1,247,986,000 in the same period of 2023[146]. - Lease revenues and fees for Progressive Leasing were $1,191,066,000, down from $1,211,921,000 year-over-year[146]. Customer Metrics - The active customer count for Progressive Leasing was 834, slightly down from 843 in the previous year[127]. - The active customer count for Vive decreased to 85 from 90 year-over-year[127]. Earnings and Expenses - Earnings before income taxes decreased to $48.3 million, down from $52.0 million in Q2 2023, a decline of 7.1%[130]. - Operating expenses for the three months ended June 30, 2024, were $107,901, a slight increase of 0.2% from $107,710 in the same period of 2023[138]. - Earnings before income tax expense for the three months ended June 30, 2024, were $48,339, a decrease of 7.1% from $52,014 in the same period of 2023[142]. - Net interest expense for the three months ended June 30, 2024, was $7,339, an increase of 0.8% from $7,283 in the same period of 2023[141]. - Operating expenses increased by 10.5% to $235,242,000 compared to $212,969,000 in the prior year[147]. Tax and Provisions - The effective income tax rate for the three months ended June 30, 2024, was 30.1%, compared to 28.4% in the same period of 2023[143]. - The provision for lease merchandise write-offs increased to 7.7% of lease revenues in Q2 2024, up from 7.1% in Q2 2023[139]. - The provision for loan losses increased by 36.9% to $12,035 in Q2 2024, compared to $8,791 in Q2 2023[138]. - The provision for loan losses rose by 31.9% to $23,084,000, driven by growth in other strategic operations[147]. - The effective tax rate increased to 30.2% for the six months ended June 30, 2024, compared to 28.7% in the same period of 2023[150]. Cash Flow and Investments - Cash provided by operating activities decreased to $191,100,000 from $205,400,000 year-over-year[154]. - Cash used in investing activities increased to $17,800,000 from $10,600,000, primarily due to an $81,800,000 increase in cash investments in loans receivable[159]. - Cash used in financing activities was $78,600,000, compared to $73,800,000 in the same period last year, mainly for stock repurchases and dividends[160]. - The company repurchased 1,810,562 shares for $61,200,000 during the six months ended June 30, 2024[161]. Debt and Financial Compliance - The Company has a $350.0 million senior revolving credit facility with no outstanding balance as of June 30, 2024, and $350.0 million available for borrowings[163]. - As of June 30, 2024, the Company was in compliance with financial covenants requiring a total net debt to EBITDA ratio of no more than 2.50:1.00 and consolidated interest coverage of no less than 3.00:1.00[163]. - The Company issued $600 million in senior unsecured notes due 2029 at a fixed annual interest rate of 6.00%, with interest payable semi-annually[165]. - The Company had no outstanding borrowings under its Revolving Facility as of June 30, 2024, and a hypothetical 1.0% change in interest rates would not affect interest expense[170]. Internal Controls and Compliance - The Company’s disclosure controls and procedures were evaluated as effective as of the end of the reporting period[172]. - There were no changes in the Company's internal control over financial reporting that materially affected its operations during the three and six months ended June 30, 2024[173].

performance returning to pre-pandemic levels, and a smaller portfolio size during the quarter, partially offset by a decrease in Progressive Leasing's SG&A due to cost reduction actions executed in the first quarter of 2024, along with disciplined spending. 2024 Outlook PROG Holdings - Total Revenues PROG Holdings - Net Earnings PROG Holdings - Adjusted EBITDA PROG Holdings - Diluted EPS PROG Holdings - Diluted Non-GAAP EPS Statements in this news release regarding our business that are not historical facts ...

A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced. Moreover, the momentum for PRG is fast paced, as the stock currently has a beta of 2.12. This indicates that the stock move ...

PROG Holdings (PRG) shares ended the last trading session 5.5% higher at $37.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7% gain over the past four weeks. Shares of PROG Holdings rallied for the second consecutive day. Rise in consumer confidence in May after three straight months of decline seems have cheered the investors of this consumer loan provider stock. Though inflation and interest rates worry pers ...

PROG Holdings (PRG) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices - - has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a changin ...

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PROG Holdings, Inc. (NYSE:PRG) Q1 2024 Earnings Conference Call April 24, 2024 8:30 AM ET Company Participants John Baugh - Vice President, Investor Relations Steve Michaels - President and Chief Executive Officer Brian Garner - Chief Financial Officer Conference Call Participants Kyle Joseph - Jefferies Bradley Thomas - KeyBanc Capital Markets Hoang Nguyen - TD Cowen Robert Griffin - Raymond James Anthony Chukumba - Loop Capital Markets Operator Good day, and thank you for standing by. Welcome to the PROG ...

PROG Holdings (PRG) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $1.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.64%. A quarter ago, it was expected that this rent-to-own company would post earnings of $0.67 per share when it actually produced earnings of $0.72, delivering a surprise of 7.46%.Over the last four quarters, the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ Georgia 85-2484385 (State or other jurisdiction of incorporation or organization) 256 W. Data Drive Draper, Utah 84020-2315 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSI ...

Exhibit 99.1 PROG Holdings Reports First Quarter 2024 Results SALT LAKE CITY, April 24, 2024 - PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, Four Technologies, and Build today announced financial results for the first quarter ended March 31, 2024. "We're pleased with our strong start to the year, with first quarter financial performance exceeding our expectations, driven by better-than-expected GMV, strong portfolio performance and disciplined spending" ...