PROG HOLDINGS Reports Q2 Fiscal Year 2023 Earnings Results on June 30, 2023
August 25, 2023
🌥️Earnings Overview
On June 30 2023, PROG HOLDINGS ($NYSE:PRG) revealed their second-quarter fiscal year 2023 earnings results. Total revenue was USD 592.9 million, a decrease of 8.7% from the same period in the previous year; however, net income had risen to USD 37.2 million, a 91.1% year-over-year increase.
Stock Price
The stock opened at $39.8 and soared 14.9% to close at $41.7, surpassing its previous closing price of 36.3. Overall, PROG shareholders were pleased with the earnings results and the stock surged on the strong performance. Investors are expecting more positive results from PROG in the coming quarters as the company continues to expand its products and services. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Prog Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 2.49k | 137.34 | 6.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Prog Holdings. More…
| Operations | Investing | Financing |
| 292.12 | -42.2 | -124.42 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Prog Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.48k | 889.41 | 12.99 |
Key Ratios Snapshot
Some of the financial key ratios for Prog Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -15.4% | -9.5% | 9.6% |
| FCF Margin | ROE | ROA |
| 11.4% | 25.3% | 10.0% |
Analysis
As part of GoodWhale’s comprehensive financial analysis, we’ve taken a close look at PROG HOLDINGS and evaluated it in terms of business and financial risk. We’ve assigned it a rating of medium risk, but with some caveats. In our Risk Warnings section, we’ve noticed two potential issues in PROG HOLDINGS’ income statement and balance sheet. We encourage all investors to become registered users of our service so they can access this information and make an informed investment decision. In addition to the Risk Warnings, we’ve also conducted a debt/equity ratio analysis, a liquidity analysis, and an overall macroeconomic risk evaluation. These have all been taken into account when determining PROG HOLDINGS’ Risk Rating. Overall, our research has concluded that PROG HOLDINGS is a relatively safe investment with some potential risks that should be considered before investing. With the right information and research, investors should be able to make an informed decision about whether or not to invest in PROG HOLDINGS. More…
Peers
The competition between PROG Holdings Inc and its competitors is fierce. All of the companies are vying for market share and customers. They all offer different products and services, and each has its own strengths and weaknesses. It is up to the customer to decide which company is the best fit for their needs.
– Sixt Leasing SE ($LTS:0R88)
Sixt Leasing SE is a German financial services company that offers leasing and fleet management solutions for corporate customers. The company has a market cap of 360.7M as of 2022 and a Return on Equity of 4.43%. Sixt Leasing SE is a subsidiary of Sixt AG, a global car rental and mobility provider.
– CSSC (Hong Kong) Shipping Co Ltd ($SEHK:03877)
CSSC (Hong Kong) Shipping Co Ltd has a market cap of 6.75B as of 2022, a Return on Equity of 13.77%. The company is engaged in the shipping and logistics business, providing services such as container shipping, freight forwarding, warehousing, and distribution.
– Tokyo Century Corp ($TSE:8439)
Tokyo Century Corp is a Japanese company with a market cap of 586.57B as of 2022. The company has a Return on Equity of 4.61%. Tokyo Century Corp is involved in a variety of businesses, including leasing, financing, and insurance. The company has a strong presence in Asia, and its products and services are used by a wide range of customers.
Summary
Analyzing PROG HOLDINGS’ second quarter fiscal year 2023 financial results, investors can observe a decrease in total revenue year-over-year. Despite this, net income was significantly higher, increasing 91.1%. This is a positive sign and as expected, the stock price reacted positively on the announcement of the earnings results.
Going forward, investors should watch out for updates on PROG HOLDINGS’ performance and growth, as well as any potential new initiatives from the company which may contribute to the stock’s performance. As with any investment, investors should always research and consult financial advisors before investing in PROG HOLDINGS.
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