Stock Track | PROG Holdings Stock Plunges 5.5% After Q3 Earnings Miss and Trimmed Guidance

Stock Track10-23

Shares of PROG Holdings, Inc. (NYSE: PRG) plummeted 5.52% on October 23, 2024, after the company reported mixed third-quarter results and trimmed its full-year earnings guidance.

The rent-to-own retailer reported non-GAAP earnings per share of $0.77 for the third quarter, missing analysts' estimates of $0.80 by $0.03. However, revenue of $606.1 million exceeded expectations of $602.4 million, driven by an 11.6% year-over-year increase in Progressive Leasing gross merchandise value.

For the full year 2024, PROG Holdings raised its revenue guidance to a range of $2.44 billion to $2.46 billion, compared to its previous guidance of $2.4 billion to $2.45 billion. However, the company lowered the top end of its non-GAAP EPS guidance to $3.30 to $3.40, down from $3.25 to $3.40 previously.

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(NYSE: PRG) plummeted 5.52% on October 23, 2024, after the company reported mixed third-quarter results and trimmed its full-year earnings guidance.\nThe rent-to-own ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PRG","symbol_name":"PROG Holdings, Inc.","start_time":0,"source_url":"","article_id":"1165542596","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1165542596","pubTimestamp":1729690465,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of PROG Holdings, Inc.  plummeted 5.52% on October 23, 2024, after the company reported mixed third-quarter results and trimmed its full-year earnings guidance.The rent-to-own retailer reported non-GAAP earnings per share of $0.77 for the third quarter, missing analysts' estimates of $0.80 by $0.03. 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