secwatch.observer — SEC 8-K summary
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Issuer:     PROG Holdings, Inc. (PRG)
CIK:        0001808834
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0001808834-22-000145
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PROG Holdings Q3 revenue down 3.8%; cuts full-year outlook
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1808834/000180883422000145/0001808834-22-000145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1808834/000180883422000145/prg-20221026.htm
  HTML page:      https://secwatch.observer/filing/0001808834-22-000145

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