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PROG (PRG) Reports Earnings Tomorrow: What To Expect

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PRG Cover Image

Financial technology company PROG Holdings (NYSE: PRG) will be reporting results this Wednesday before the bell. Here’s what to expect.

PROG met analysts’ revenue expectations last quarter, reporting revenues of $742.7 million, up 11.1% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year EPS guidance exceeding analysts’ expectations.

Is PROG a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting PROG’s revenue to grow 18.1% year on year, improving from the 2.1% increase it recorded in the same quarter last year.

PROG Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. PROG has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at PROG’s peers in the financial services segment, only WEX has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 14.2%. The stock traded up 10.1% on the results.

Read our full analysis of WEX’s earnings results here.

There has been positive sentiment among investors in the financial services segment, with share prices up 7.2% on average over the last month. PROG is down 6.1% during the same time and is heading into earnings with an average analyst price target of $51.43 (compared to the current share price of $43.29).

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