earnings
confidence high
sentiment negative
materiality 0.75
PROG Holdings Q3 revenue down 3.8%; cuts full-year outlook
PROG Holdings, Inc.
2022-Q3 EPS reported
$1.18
revenue$1,985,729,000
- Consolidated revenues $625.8M, down 3.8% YoY; net earnings $16.0M vs $57.4M.
- Adjusted EBITDA $65.0M (10.4% of revenue) vs $93.6M (14.4%) in prior year.
- Diluted EPS $0.32; Non-GAAP diluted EPS $0.68 vs $0.94 YoY.
- Progressive Leasing GMV down 11.3% to $437.4M; write-offs improved to 7.2% from Q2 9.8%.
- Full-year 2022 outlook lowered: revenues $2.58-2.59B, diluted EPS $1.63-1.69 (from $2.09-2.33).