---
schema_version: "secwatch.filing_event.v1"
accession: "0001808834-23-000091"
form_type: "8-K"
ticker: "PRG"
cik: "0001808834"
company_name: "PROG Holdings, Inc."
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:26:08.519550+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PROG Holdings Q2 beats, raises full-year 2023 outlook; Adj EBITDA up 44% YoY

## Summary
- Consolidated revenues $592.8M (down 8.7% YoY); non-GAAP diluted EPS $0.92 vs $0.52 YoY (+76.9%).
- Adjusted EBITDA $75.0M, +44% YoY, driven by lower write-offs (7.1% vs 9.8%) and strong portfolio performance.
- Raised FY 2023 guidance: Adj EBITDA now $270-280M (from $235-255M); non-GAAP EPS $3.10-3.25 (from $2.50-2.77).
- Repurchased $35.4M stock in Q2 at avg $32.65; $265.4M remaining under $1B buyback program.
- Progressive Leasing GMV $421.2M, -14.7% YoY due to tighter decisioning and soft consumer demand.

## SEC filing metadata
- accession: 0001808834-23-000091
- form_type: 8-K
- ticker: PRG
- cik: 0001808834
- company_name: PROG Holdings, Inc.
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1808834/000180883423000091/0001808834-23-000091-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1808834/000180883423000091/prg-20230726.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001808834-23-000091
- JSON: https://secwatch.observer/filing/0001808834-23-000091.json
- Plain text: https://secwatch.observer/filing/0001808834-23-000091.txt

## Key facts
- Earnings Releases
  PROG Holdings, Inc. reported second quarter ended June 30, 2023 results: revenue Consolidated revenues of $592.8 million, net income Consolidated net earnings for the quarter were $37.2 million, EPS Diluted earnings per share for the second quarter of 2023 were $0.79. Guidance raised.
  - Period: second quarter ended June 30, 2023
  - Revenue: Consolidated revenues of $592.8 million
  - Net income: Consolidated net earnings for the quarter were $37.2 million
  - EPS: Diluted earnings per share for the second quarter of 2023 were $0.79
  - Guidance: raised
  - Result: reported results
  source text: 2Q2023) --- PRESS RELEASE 2Q2023 Document Exhibit 99.1 PROG Holdings Exceeds Second Quarter 2023 Expectations, Raises Full-Year Financial Outlook • Consolidated revenues of $592.8 million • Earnings before taxes of $52.0 million • Adjusted EBITDA of $75.0 million, increase of 44% year-over-year • Diluted EPS of $0.79; Non-GAAP Diluted EPS of $0.92, up 76.9%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1808834/000180883423000091/0001808834-23-000091-index.htm

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