earnings
confidence high
sentiment negative
materiality 0.75
PROG Holdings Q1 revenues down 1.5% YoY; EPS falls to $0.49 from $1.16
PROG Holdings, Inc.
2022-Q1 EPS reported
$0.49
revenue$710,464,000
- Consolidated revenues $710.5M (-1.5% YoY); net earnings $27.1M vs $79.5M.
- Adjusted EBITDA $64.6M (9.1% of rev) vs $118.1M (16.4%) in Q1 2021.
- Diluted EPS $0.49; Non-GAAP diluted EPS $0.57, down from $1.22 a year ago.
- Progressive Leasing GMV $504.5M (-1.1% YoY); e-commerce GMV up 10% to 15.9% of total.
- Lease write-off provision rose to 7.3% of lease revenues from 2.6% in stimulus-aided Q1 2021.