PROG Holdings, Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - PROG Holdings, Inc. (PRG) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $21.97 million, or $0.49 per share. This compares with $48.03 million, or $1.00 per share, in last year's first quarter.

Excluding items, PROG Holdings, Inc. reported adjusted earnings of $40.64 million or $0.91 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.0% to $641.87 million from $655.14 million last year.

PROG Holdings, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $21.97 Mln. vs. $48.03 Mln. last year. -EPS (Q1): $0.49 vs. $1.00 last year. -Revenue (Q1): $641.87 Mln vs. $655.14 Mln last year.