secwatch.observer — SEC 8-K summary
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Issuer:     PROG Holdings, Inc. (PRG)
CIK:        0001808834
Form:       8-K
Filed at:   2022-04-27T23:59:59+00:00
Accession:  0001808834-22-000060
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PROG Holdings Q1 revenues down 1.5% YoY; EPS falls to $0.49 from $1.16
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1808834/000180883422000060/0001808834-22-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1808834/000180883422000060/prg-20220427.htm
  HTML page:      https://secwatch.observer/filing/0001808834-22-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer