DRAPER, Utah (AP) — DRAPER, Utah (AP) — PROG Holdings, Inc. (PRG) on Wednesday reported fourth-quarter net income of $18.6 million.
On a per-share basis, the Draper, Utah-based company said it had profit of 41 cents. Earnings, adjusted for one-time gains and costs, were 72 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The rent-to-own company posted revenue of $577.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $559 million.
For the year, the company reported profit of $138.8 million, or $2.98 per share. Revenue was reported as $2.41 billion.
For the current quarter ending in March, PROG Holdings expects its per-share earnings to range from 80 cents to 85 cents.
The company said it expects revenue in the range of $620 million to $640 million for the fiscal first quarter.
PROG Holdings expects full-year earnings in the range of $2.70 to $3 per share, with revenue ranging from $2.24 billion to $2.34 billion.
_____
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