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PROG Holdings: 4Q Earnings Snapshot

·1 min read

ATLANTA (AP) _ PROG Holdings, Inc. (PRG) on Thursday reported fourth-quarter net income of $40.8 million, after reporting a loss in the same period a year earlier.

The Atlanta-based company said it had net income of 60 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were 95 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The rent-to-own company posted revenue of $605.7 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $611.1 million.

For the year, the company reported a loss of $61.5 million, or 90 cents per share, swinging to a loss in the period. Revenue was reported as $2.48 billion.

For the current quarter ending in April, PROG Holdings expects its per-share earnings to range from 89 cents to 95 cents.

The company said it expects revenue in the range of $650 million to $670 million for the fiscal first quarter.

PROG Holdings shares have dropped almost 8% since the beginning of the year. The stock has risen 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRG at https://www.zacks.com/ap/PRG