PROG Holdings Inc (PRG) Tops Q3 EPS by 4c, Offers Guidance

PROG Holdings Inc (NYSE: PRG) reported Q3 EPS of $0.94, $0.04 better than the analyst estimate of $0.90. Revenue for the quarter came in at $650 million versus the consensus estimate of $678.38 million.

GUIDANCE:

PROG Holdings Inc sees FY2021 EPS of $3.90-$3.99, versus the consensus of $4.08. PROG Holdings Inc sees FY2021 revenue of $2.68-2.7 billion, versus the consensus of $2.77 billion.

• The Company is updating its full year 2021 consolidated outlook for revenues, adjusted EBITDA, GAAP diluted EPS, and Non-GAAP diluted EPS. The change in outlook reflects increasing reserve requirements due to continued normalization of the portfolio. The revised revenue range for 2021 is $2.68 billion to $2.70 billion, and the revised adjusted EBITDA range is $390 million to $395 million. Non-GAAP diluted EPS is expected to be between $3.90 and $3.99, while GAAP diluted EPS is expected to be between $3.62 and $3.71. The impact of any share reduction from the tender offer is not included in this outlook and is expected to be immaterial to the full-year EPS.

For earnings history and earnings-related data on PROG Holdings Inc (PRG) click here.

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