---
schema_version: "secwatch.filing_event.v1"
accession: "0001808834-23-000061"
form_type: "8-K/A"
ticker: "PRG"
cik: "0001808834"
company_name: "PROG Holdings, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:18:01.001919+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PROG Holdings beats Q1 2023 expectations, raises full-year earnings outlook

## Summary
- Q1 adjusted EBITDA $89.7M (+38.9% YoY); non-GAAP diluted EPS $1.11 (+94.7% YoY).
- Progressive Leasing write-offs improved to 6.0% vs 7.3% in Q1 2022; e-commerce up 100bps to 16.9% of GMV.
- Full-year 2023 adjusted EBITDA guidance raised to $235M-$255M (from $215M-$245M); GAAP EPS raised to $2.09-$2.37.
- Progressive Leasing earnings before taxes outlook corrected to $168M-$180M (from $147M-$167M).
- Company repurchased $36.5M of stock at avg $25/share; $300.8M remaining under buyback program.

## SEC filing metadata
- accession: 0001808834-23-000061
- form_type: 8-K/A
- ticker: PRG
- cik: 0001808834
- company_name: PROG Holdings, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1808834/000180883423000061/0001808834-23-000061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1808834/000180883423000061/prg-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001808834-23-000061
- JSON: https://secwatch.observer/filing/0001808834-23-000061.json
- Plain text: https://secwatch.observer/filing/0001808834-23-000061.txt

## Key facts
- Earnings Releases
  PROG Holdings, Inc. reported first quarter ended March 31, 2023 results: revenue $655.1 million, net income $48.0 million, EPS $1.00. Guidance raised.
  - Period: first quarter ended March 31, 2023
  - Revenue: $655.1 million
  - Net income: $48.0 million
  - EPS: $1.00
  - Guidance: raised
  - Result: reported results
  source text: 1Q2023) --- PRESS RELEASE 1Q2023 Document Exhibit 99.1 PROG Holdings Exceeds First Quarter 2023 Expectations, Raises Full-Year Earnings Outlook • Consolidated revenues of $655.1 million, earnings before taxes of $67.6 million; • Adjusted EBITDA of $89.7 million, increase of 38.9% year-over-year • Diluted EPS of $1.00; Non-GAAP Diluted EPS of $1.11, up 94.7%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1808834/000180883423000061/0001808834-23-000061-index.htm

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