---
schema_version: "secwatch.filing_event.v1"
accession: "0001808834-22-000126"
form_type: "8-K"
ticker: "PRG"
cik: "0001808834"
company_name: "PROG Holdings, Inc."
filed_at: "2022-07-27T23:59:59+00:00"
generated_at: "2026-06-24T08:17:17.728000+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# PROG Holdings Q2 net earnings drop to $19.5M; GMV down 2.4%; adjusted EBITDA margin halves to 8%

## Summary
- Consolidated revenues $649.4M (-1.6% YoY); net earnings $19.5M vs $68.8M; diluted EPS $0.37 vs $1.02.
- Adjusted EBITDA $52.2M (8.0% of revenues) vs $104.9M (15.9%) YoY; Non-GAAP diluted EPS $0.52 vs $1.09.
- Progressive Leasing GMV $494M (-2.4% YoY); e-commerce GMV up 17.6% to 15.6% of total GMV.
- Provision for lease write-offs 9.8% of lease revenues; inflationary pressures driving higher delinquencies.
- Launched as exclusive LTO provider for Samsung.com; repurchased $98.4M stock at avg $25.23/share.

## SEC filing metadata
- accession: 0001808834-22-000126
- form_type: 8-K
- ticker: PRG
- cik: 0001808834
- company_name: PROG Holdings, Inc.
- filed_at: 2022-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1808834/000180883422000126/0001808834-22-000126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1808834/000180883422000126/prg-20220727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001808834-22-000126
- JSON: https://secwatch.observer/filing/0001808834-22-000126.json
- Plain text: https://secwatch.observer/filing/0001808834-22-000126.txt

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