secwatch.observer — SEC 8-K summary
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Issuer:     PROG Holdings, Inc. (PRG)
CIK:        0001808834
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001808834-23-000053
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PROG Holdings Q1 beats: Non-GAAP EPS $1.11 (+94.7% YoY), raises FY outlook
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- Consolidated revenue $655.1M (-7.8% YoY); net earnings $48.0M vs $27.1M.
- Adjusted EBITDA $89.7M (+38.9% YoY); Progressive Leasing write-offs improved to 6.0% from 7.3%.
- Non-GAAP diluted EPS $1.11, up 94.7% YoY; GAAP diluted EPS $1.00 vs $0.49.
- Raised FY2023 guidance: net earnings $99.5M-$112.5M (prev $82.5M-$103.5M); diluted EPS $2.09-$2.37.
- Repurchased $36.5M of stock at avg $25/share; $300.8M remaining under $1B buyback program.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1808834/000180883423000053/0001808834-23-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1808834/000180883423000053/prg-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001808834-23-000053

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