Prog Holdings Eyes Best Day In Three Yrs After Beat: and-raise quarter

PROG Holdings

26/07/2023 15:12

** Shares of fintech firm PROG Holdings Inc  PRG.N  rise
19.7% to $43.6, hitting a 1-1/2-year high
    ** Stock set to post best day in nearly three years
    ** Co raises FY23 EPS outlook to $2.64- $2.80 from previous
range of $2.09-$2.37
    ** Also raises FY23 revenue outlook to $2.36 bln-$2.39 bln
vs previous range of $2.30 bln- $2.37 bln
    ** "Stability of our lease portfolio and continuing
favorable trends, despite soft consumer demand in key leasable
categories, gives us the confidence to increase our full-year
2023 outlook"- CEO Steve Michaels
    ** Co's Q2 revenue of $592.8 mln, adj. EPS of $0.92, also
well ahead of analysts' estimates    
    ** Stock up 114.6% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))