Published on 21 Feb 2024 on GuruFocus.com via Yahoo Finance

PROG Holdings Inc (PRG) Announces Q4 2023 Results and Initiates Dividend

Consolidated Revenues: $577.4 million, a decrease of 5.7% year-over-year.Earnings Before Taxes: $28.5 million for the quarter.Adjusted EBITDA: $61.0 million, down 18.1% from the same period in 2022.Diluted EPS: Reported at $0.41, with Non-GAAP Diluted EPS at $0.72.Progressive Leasing GMV: Increased by 1.2% year-over-year to $547.6 million.Capital Returns: Initiation of a quarterly cash dividend and a $500 million share repurchase authorization.

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On February 21, 2024, PROG Holdings Inc (NYSE:PRG) released its 8-K filing, announcing its financial results for the fourth quarter ended December 31, 2023. The fintech holding company, which operates Progressive Leasing, Vive Financial, Four Technologies, and Build, reported consolidated revenues of $577.4 million, marking a 5.7% decrease from the same period in the previous year.