$PRL.TO

Propel Holdings Maintained at Buy at Stifel Canada After Q1 Results; Price Target Kept at C$32.00

Stifel Canada on Tuesday reiterated its buy rating on the shares of Propel Holdings (PRL.TO) and its C$32.00 price target following the company's first-quarter results."Propel reported an upside FQ1, underscoring strength in loan growth alongside stable credit performance, on the back of the rebound in credit quality and subsequent new origination activity we saw exiting last quarter. Importantly, credit metrics PCLs and net-charge-offs normalized this quarter, supporting a recovery in ROE and fueling yet another bump in Propel's quarterly dividend (11th consecutive raise at +6.7% to $0.24/share). Net/net - results further reinforce resilience in the non-prime consumer backdrop, in-line with recent prints from US consumer credit peers. FY guide is being maintained, reaffirming the growth trajectory ahead, while suggesting some conservatism amidst the current macro uncertainty. Conference call tomorrow at 8:30am ET (dial-in: 1-888-699-1199/webcast). Our key focus on the call will be around (1) outlook for US consumer credit quality, (2) growth outlook for LaaS, (3) pace/scale of ongoing growth investments to support US expansion/Propel Bank launch," analyst Suthan Sukumar wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $24.15, Change: $+2.25, Percent Change: +10.27%

Propel Holdings Q1 Profit Dips, Revenue Tops Estimates; Dividend Raised

Propel Holdings (PRL.TO) on Monday reported a drop in first-quarter adjusted income despite higher revenue that exceeded analysts' estimates, and hiked its dividend.The digital lender and fintech company said its adjusted profit, excluding most one-time items, dropped 1.7% to US$23 million, or US$0.54 per share, from US$23.4 million, or US$0.55, in the prior-year period. The result exceeded the consensus analyst estimate of US$0.51 per share, according to FactSet.Propel's revenue rose by 20% to US$166.1 million in the quarter, compared to US$138.9 million in the prior year period, surpassing FactSet's below the US$164.3 million forecast.It also said its board of directors raised its dividend from C$0.90 to C$0.96 per share on an annualized basis, effective in the second quarter, the company's eleventh consecutive quarterly dividend increase."Looking ahead, we remain focused on executing our growth strategy. We are expanding into new states in the U.S., introducing new products and adding new marketing partners and channels to scale originations further, while leveraging our AI-powered platform to support continued credit performance.," said chief executive Clive Kinross. "We are seeing strong momentum across the business. We are confident in our ability to deliver continued profitable growth in 2026 and beyond."Shares of the company closed up C$0.49 to C$21.90 on Toronto stock Exchange.

Earnings Flash (PRL.TO) Propel Approved a Further Lift to Its Dividend From C$0.90 to C$0.96 Per Share On An Annualized Basis, Effective Q2 2026

Earnings Flash (PRL.TO) Propel Posts Q1 Adjusted EPS US$0.54 per Share, vs. FactSet Est of $0.51

Propel Amends and Upsizes Fora Credit Facility

Propel Holdings (PRL.TO) amended and upsized its existing credit facility for its Canadian business, Fora, it said Wednesday.The commitment under the Fora facility increased to $40 million from about $26 million. The Fora credit facility will bear interest equal to the prime rate plus 275 basis points per annum, representing a reduction in the cost of the facility by about 200 basis points, the company said."This Amendment lowers our cost of capital and supports the ongoing growth of our Canadian business," said Propel Chief Executive Clive Kinross. "It reflects the strength of our platform, our demonstrated performance and continued momentum in Canada and globally."Shares of the company closed down 6% to $20.55 on Tuesday on the Toronto Stock Exchange.