secwatch.observer — SEC 8-K summary
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Issuer:     PROG Holdings, Inc. (PRG)
CIK:        0001808834
Form:       8-K/A
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001808834-23-000061
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1808834/000180883423000061/0001808834-23-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1808834/000180883423000061/prg-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001808834-23-000061

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