PROG (US:PRG) ZACKSยท2024-07-24 13:40Core Insights - PROG Holdings (PRG) reported quarterly earnings of $0.92 per share, exceeding the Zacks Consensus Estimate of $0.71 per share, with an earnings surprise of 29.58% [1] - The company posted revenues of $592.16 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.57% [2] - PROG Holdings has consistently surpassed consensus EPS estimates over the last four quarters [2] Financial Performance - The earnings for the same quarter last year were also $0.92 per share, indicating no year-over-year growth in earnings [1] - The revenues for the same quarter last year were $592.85 million, showing a slight decline in revenue year-over-year [2] - The current consensus EPS estimate for the upcoming quarter is $0.62, with expected revenues of $552.52 million, and for the current fiscal year, the EPS estimate is $2.98 on revenues of $2.35 billion [7] Market Position - PROG Holdings shares have increased by approximately 12% since the beginning of the year, while the S&P 500 has gained 16.5% [3] - The company currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] - The Financial - Consumer Loans industry, to which PROG Holdings belongs, is ranked in the top 37% of over 250 Zacks industries, suggesting a relatively strong industry position [8] Future Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The trend of estimate revisions for PROG Holdings has been unfavorable leading up to the earnings release, which may impact future performance [6] - Another company in the same industry, Encore Capital Group, is expected to report earnings soon, with a projected EPS of $1.26, indicating a year-over-year increase of 16.7% [9]