PROG Holdings (PRG)
NYSE:PRG
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.95Last Year’s EPS
1.02Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys a broadly positive tone: strong consolidated GMV (+54% YoY), revenue and earnings outperformance, triple-digit growth and profitability at Four, progress on deleveraging into target leverage, and an upward revision to full-year guidance. Offsetting items include a still-recovering Progressive Leasing portfolio (revenue decline and portfolio contraction), Purchasing Power remaining near breakeven with seasonal backloaded performance, and macroeconomic headwinds (e.g., higher gas prices) that require monitoring. Management emphasized durable portfolio health, AI and digital investments that are driving conversion and efficiency, and disciplined capital allocation. Overall, the highlights (meaningful growth, margin expansion, deleveraging, raised guidance, and tech/AI wins) materially outweigh the lowlights (leasing headwinds, seasonality at Purchasing Power, and macro risks).Company Guidance
Consolidated GMV and Revenue Growth
Consolidated GMV grew 54% year-over-year in Q1 (continuing operations GMV $806M). Consolidated revenue was $742.7M ($743M), up 11.1% YoY, driven by the addition of Purchasing Power and strong Four performance.
Earnings Outperformance
Consolidated adjusted EBITDA of $90.3M (12.2% margin) and non-GAAP EPS of $1.24 both exceeded the high end of February outlook; adjusted EBITDA grew ~29% YoY and non-GAAP EPS grew ~38% YoY.
Four: Triple-Digit Growth and Profitability
Four Technologies Q1 GMV $280M, up 134% YoY; revenue $35M, up 142% YoY. Q1 adjusted EBITDA $12.9M with a 37% margin (Q1 adjusted EBITDA exceeded full-year 2025 adjusted EBITDA of $9.9M). Monthly active users more than doubled and new shoppers grew ~80% YoY; Four Plus subscribers generate ~80% of GMV.
Progressive Leasing Margin and Portfolio Health
Progressive Leasing gross margin expanded to 31.5%, up 210 basis points YoY. Lease merchandise write-offs were 7.3% of lease revenue (within target 6–8% and improved 10 bps YoY). Adjusted EBITDA for the segment was $77M (12.9% of revenue), a 260 bps YoY improvement.
Purchasing Power GMV Growth and Integration Progress
Purchasing Power Q1 GMV $132.7M, up 10.3% YoY. Q1 revenue $107.1M with adjusted EBITDA of $0.8M (near breakeven) and integration efforts/on-track synergies progressing as expected.
Capital Structure Improvement
Company paid down $210M of recourse debt in the quarter; ended Q1 with net leverage of ~2.0x (within stated target range of 1.5–2x). Recourse debt ending balance $650M; unrestricted cash $69.4M and total available liquidity $419.4M.
Raised Full-Year 2026 Outlook
Revised 2026 guidance increased: revenues $3.0B–$3.1B, adjusted EBITDA $343M–$370M, and non-GAAP EPS $4.40–$4.80, reflecting Q1 outperformance and confidence in execution.
Digital & AI-Driven Product Improvements
AI-driven enhancements reduced leasing eligibility response time from 3 seconds to 0.1 seconds. PROG Marketplace grew 169% YoY; e-commerce GMV mix rose to 25.7% of Progressive Leasing GMV (from 16.8% prior year). Marketplace checkout conversion improved ~20 percentage points with lower cost-to-serve.
Dividend Increase and Shareholder Returns Priority
Quarterly dividend raised to $0.14 per share (up 7.7% YoY). Capital allocation priorities reiterated: invest in business, pursue strategic M&A, deleverage, and return excess capital via repurchases/dividends.
MoneyApp Growth and New Product Traction
MoneyApp revenue grew over 50% YoY in Q1 and new 'Pop-Ups' product (introduced Dec) beginning to generate incremental revenue and deepen engagement.
PRG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PRG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $28.88 | $35.84 | +24.10% |
Feb 18, 2026 | $33.71 | $35.95 | +6.64% |
Oct 22, 2025 | $32.41 | $32.27 | -0.43% |
Jul 23, 2025 | $28.23 | $32.92 | +16.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does PROG Holdings (PRG) report earnings?
PROG Holdings (PRG) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is PROG Holdings (PRG) earnings time?
PROG Holdings (PRG) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is PRG EPS forecast?
PRG EPS forecast for the fiscal quarter 2026 (Q2) is 0.95.