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PROG Holdings: Q1 Earnings Snapshot

DRAPER, Utah (AP) — DRAPER, Utah (AP) — 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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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRG at https://www.zacks.com/ap/PRG

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