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Propel Holdings, Inc. (TSE:PRL)
:PRL
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Earnings Data
Report Date
Mar 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.71Last Year’s EPS
0.42Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 21, 2022
|% Change Since: -3.64%
|Next Earnings Date:Nov 15, 2021
Earnings Call Sentiment|Positive
Propel Holdings delivered strong Q3 2024 results with record-breaking revenue and growth metrics, a strategic acquisition, and increased dividends, despite facing one-time expenses and challenges in the Canadian market.Company Guidance
During Propel Holdings' Q3 2024 earnings call, the company highlighted several key metrics and strategic initiatives. Total originations funded reached a record $150 million, marking a 36% increase compared to Q3 2023, while revenue climbed to $117.2 million, up 41% year-over-year. Net income rose to $10.5 million, a 70% increase from the previous year, and adjusted net income increased by 66% to $14.1 million. The net charge-offs as a percentage of CLAB improved to 11% from 12% in Q3 2023, reflecting strong credit performance. Propel also announced a 7% increase in its dividend to CAD 0.60 per share annually. Additionally, the company discussed the strategic acquisition of QuidMarket, a U.K. fintech lender, expected to be accretive to 2024 and 2025 adjusted EPS. Propel's ongoing growth initiatives include a new partnership with KOHO in Canada and expansion of its Lending-as-a-Service program, positioning the company for continued success into 2025.Record-Breaking Q3 2024 Results
Propel's Q3 2024 results included record total originations funded of $150 million, up 36% year-over-year, and record revenue of $117.2 million, up 41% from Q3 2023.
Strong Financial Performance
Net income rose to $10.5 million, a 70% increase from the previous year, while adjusted net income was $14.1 million, up 66%. The net income margin increased to 9% from 7% last year.
Acquisition of QuidMarket
Propel announced the acquisition of QuidMarket, a UK fintech lender, for $71 million. The acquisition is expected to be immediately accretive to 2024 and 2025 adjusted EPS.
Dividend Increase
Propel's Board approved an increase in the dividend from CAD 0.56 to CAD 0.60 per share annually, marking the sixth dividend increase since early 2023.
Lending-as-a-Service Growth
The Lending-as-a-Service program has expanded, with new purchasers set to join, positioning the company for strong growth in 2025.
Awards and Recognition
Propel was recognized on the Globe and Mail's Top Growing Companies list and Clive Kinross won the EY Entrepreneur of the Year award for Ontario.
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TSE:PRL 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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TSE:PRL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | C$36.80 | C$39.49 | +7.31% |
| Aug 07, 2024 | C$24.20 | C$25.58 | +5.70% |
| May 08, 2024 | C$23.82 | C$27.54 | +15.62% |
| Mar 12, 2024 | C$16.72 | C$16.36 | -2.15% |
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 Propel Holdings, Inc. (TSE:PRL) report earnings?
Propel Holdings, Inc. (TSE:PRL) is schdueled to report earning on Mar 25, 2025, TBA Not Confirmed.
What is Propel Holdings, Inc. (TSE:PRL) earnings time?
Propel Holdings, Inc. (TSE:PRL) earnings time is at Mar 25, 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 TSE:PRL EPS forecast?
TSE:PRL EPS forecast for the fiscal quarter 2024 (Q4) is 0.71.
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