DRAPER, Utah (AP) 鈥� DRAPER, Utah (AP) 鈥� PROG Holdings, Inc. (PRG) on Wednesday reported first-quarter earnings of $36.1 million.
The Draper, Utah-based company said it had net income of 89 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.24 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The rent-to-own company posted revenue of $742.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $732.8 million.
PROG Holdings expects full-year earnings in the range of $4.40 to $4.80 per share, with revenue in the range of $3 billion to $3.1 billion.
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