Prog Holdings reports Q3 EPS 77c, consensus 79c

Reports Q3 revenue $606.15M, consensus $595.11M. “We are pleased to report another strong quarter, highlighted by 11.6% GMV growth and a return to revenue growth in our Progressive Leasing segment” said PROG Holdings (PRG) President and CEO Steve Michaels. This momentum is driven by the effectiveness of our three-pillared strategy to grow, enhance, and expand, along with the strong execution by our teams and the benefits from the credit supply above us tightening. Our focus on enhancing both customer and retailer experiences has helped deliver top-line momentum and grow our balance of share with existing retail partners. We have several initiatives planned for the fourth quarter and beyond, aimed at driving additional improvements across key performance metrics such as application volume, customer conversion, active doors, and productivity per door, positioning us well for success moving forward. With disciplined spending and portfolio management, along with progress in our growth initiatives, we remain confident in our expectation to deliver long-term value for our shareholders,” concluded Michaels.