PROG Holdings's Q3 Adjusted Earnings Fall, Revenue Increases; Updates 2024 Guidance

MT Newswires Live10-23

PROG Holdings (PRG) reported Q3 adjusted earnings Wednesday of $0.77 per diluted share, down from $0.90 a year earlier.

Analysts polled by Capital IQ expected $0.80.

Revenue for the quarter ended Sept. 30 was $606.1 million compared with $582.9 million a year earlier.

Analysts surveyed by Capital IQ expected $602.4 million.

For Q4, the company expects adjusted diluted earnings of $0.70 per share to $0.80 per share. Analysts surveyed by Capital IQ expect $0.74. The company expect revenue for the quarter of $599.8 million to $619.8 million. Analysts surveyed by Capital IQ expect $604.5.

The company raised the lower end of its 2024 adjusted diluted earnings per share guidance to $3.30 to $3.40 from $3.25 to $3.40. Analysts surveyed by Capital IQ expect $3.38. The company also increased its revenue guidance for the year to $2.44 billion to $2.46 billion from $2.40 billion to $2.45 billion. Analysts polled by Capital IQ expect $2.44 billion.

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