Prog Holdings, Inc. ( (PRG) ) has released its Q4 earnings. Here is a breakdown of the information Prog Holdings, Inc. presented to its investors.
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PROG Holdings, Inc., a fintech holding company based in Salt Lake City, specializes in providing diverse consumer financing solutions through its subsidiaries Progressive Leasing, Vive Financial, Four Technologies, and Build.
In its fourth-quarter 2024 earnings report, PROG Holdings announced consolidated revenues of $623.3 million and net earnings of $57.5 million, marking a strong ending to the year. The company noted its success in achieving high-end outlook ranges for both revenues and earnings, driven by significant growth in gross merchandise volume and strategic operational efficiencies.
The company’s financial performance was highlighted by an 8% increase in consolidated revenues compared to the previous year, alongside a substantial rise in net earnings from $18.6 million to $57.5 million. Progressive Leasing’s gross merchandise volume grew by 9.1% year-over-year, contributing to the positive results. Additionally, PROG Holdings repurchased $40.5 million worth of stock and issued a cash dividend, indicating a robust capital allocation strategy.
Looking ahead, PROG Holdings is optimistic about 2025, focusing on its three-pillared strategy to enhance growth and customer value. The company remains committed to strategic investments and shareholder value maximization, despite anticipating a challenging operating environment due to continued soft demand in consumer durable goods.
