secwatch.observer — SEC 8-K summary
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Issuer:     PROG Holdings, Inc. (PRG)
CIK:        0001808834
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001808834-23-000091
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1808834/000180883423000091/0001808834-23-000091-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1808834/000180883423000091/prg-20230726.htm
  HTML page:      https://secwatch.observer/filing/0001808834-23-000091

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