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PROG Holdings (PRG)
NYSE:PRG
Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.77Last Year’s EPS
0.72Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 19, 2025
|% Change Since: -28.37%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive growth in certain segments, such as GMV and asset balances, alongside challenges like higher delinquencies and the impact from Big Lots' bankruptcy. While growth initiatives and technology investments are promising, the immediate financial pressures from these lowlights create a balanced outlook for the company.Company Guidance
During the PROG Holdings Fourth Quarter 2024 Earnings Conference Call, the company provided detailed guidance for 2025, highlighting several key metrics and strategic initiatives. The company expects full-year 2025 gross merchandise volume (GMV) growth in the high single digits, excluding the impact of their major retail partner, Big Lots, which filed for bankruptcy. Despite this headwind, PROG Holdings anticipates consolidated revenue growth in the low to mid-single digits, supported by the anticipated doubling of GMV for their Forre Technologies business. The company aims to maintain portfolio write-offs within a 6% to 8% range, while adjusted EBITDA is projected between $260 million and $280 million. In terms of profitability, the adjusted EBITDA margin for Progressive Leasing is expected to be between 10.9% and 11.2%, reflecting both the loss of Big Lots and continued investments in growth and technology initiatives. Non-GAAP EPS guidance is set at $3.10 to $3.50, assuming a stable macroeconomic environment and no significant shifts in share repurchase activities. The company emphasized its focus on expanding retail partnerships, enhancing customer experiences, leveraging AI for efficiencies, and driving further GMV growth through strategic investments in sales, marketing, and technology.Growth in Progressive Leasing GMV
Progressive Leasing's GMV grew 7.3% to $1.93 billion in 2024 and achieved 9.1% year-over-year GMV growth in Q4, driven by sales, marketing, and technology initiatives.
Increase in Gross Leased Asset Balance
The gross leased asset balance increased by 6.1% in 2024, marking a significant turnaround from a 5.2% decline at the start of the year.
PROG Marketplace Growth
The PROG Marketplace platform nearly tripled its GMV in 2024, exceeding the goal of doubling year-over-year and targeting $75 million in GMV for 2025.
Forre Technologies GMV Growth
Forre Technologies tripled its GMV in 2024, reaching over $300 million, with expectations to more than double GMV again in 2025.
Adjusted EBITDA and Non-GAAP EPS
Q4 adjusted EBITDA increased by 7.7% to $65.7 million, and non-GAAP diluted EPS grew 11.1% to $0.80 per share.
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PRG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PRG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 19, 2025 | $42.69 | $30.58 | -28.37% |
| Oct 23, 2024 | $46.85 | $42.35 | -9.61% |
| Jul 24, 2024 | $34.45 | $42.03 | +22.00% |
| Apr 24, 2024 | $32.49 | $35.36 | +8.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does PROG Holdings (PRG) report earnings?
PROG Holdings (PRG) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is PROG Holdings (PRG) earnings time?
PROG Holdings (PRG) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PRG EPS forecast?
PRG EPS forecast for the fiscal quarter 2024 (Q4) is 0.77.
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