---
schema_version: "secwatch.filing_event.v1"
accession: "0001808834-22-000111"
form_type: "8-K"
ticker: "PRG"
cik: "0001808834"
company_name: "PROG Holdings, Inc."
filed_at: "2022-06-16T23:59:59+00:00"
generated_at: "2026-06-25T01:22:04.651528+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PROG Holdings cuts FY2022 outlook amid inflation; Q2 revenue $645-655M, EBITDA $45-50M

## Summary
- Q2 2022 revenue $645-655M; adjusted EBITDA $45-50M; lease write-offs expected in mid 9% range.
- FY2022 revenue guidance revised to $2.59-2.69B; GAAP diluted EPS $2.09-$2.33; non-GAAP $2.50-$2.75.
- Elevated inflation in gas, food, and housing pressures customers, increasing delinquencies and write-offs.
- Tightening lease decisioning; approval rates reduced several hundred bps to manage portfolio risk.
- Cost reduction initiatives underway to right-size variable costs amid expected continued volatility.

## SEC filing metadata
- accession: 0001808834-22-000111
- form_type: 8-K
- ticker: PRG
- cik: 0001808834
- company_name: PROG Holdings, Inc.
- filed_at: 2022-06-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1808834/000180883422000111/0001808834-22-000111-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1808834/000180883422000111/prg-20220616.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001808834-22-000111
- JSON: https://secwatch.observer/filing/0001808834-22-000111.json
- Plain text: https://secwatch.observer/filing/0001808834-22-000111.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.