FX.co ★ PROG Holdings Boosts FY24 Outlook - Update

PROG Holdings Inc., a major fintech holding company, recently announced its financial results for the first quarter as well as its financial projections for the second quarter. Additionally, they revised their full-year guidance for 2024 in terms of earnings, adjusted earnings, and revenue.

The company forecasts its earnings per share (EPS) for the second quarter to fall between $0.56 and $0.66. Adjusted earnings per share are expected to be within the range of $0.65 to $0.75. Total revenues for this period are projected to be anywhere from $550 million to $575 million.

As for the fiscal year 2024, PROG Holdings now anticipates earnings per share to be within the range of $2.18 to $2.43. Adjusted earnings per share are expected to be between $2.85 and $3.10. The total revenues for this period are projected to fall between $2.285 billion and $2.360 billion.

It's worth noting that these estimates show an upward revision from the company's earlier predictions. Previously, they projected earnings per share to fall between $2.00 and $2.34, adjusted earnings per share to be between $2.70 and $3.00, and total revenues to be anywhere from $2.235 billion to $2.335 billion.

On average, five analysts from Thomson Reuters projected the company's earnings per share to be at $2.86 with revenues reaching $2.32 billion for the year. Such estimates usually exclude any special items.