PROG Holdings Q4 2023 revenue $577.4M (-5.7% YoY); EPS $0.41; initiates quarterly dividend and $500M buyback

PROG Holdings, Inc.

2023-FY EPS reported $2.98 revenue$2,408,264,000

Q4 consolidated revenue $577.4M, net earnings $18.6M (diluted EPS $0.41), non-GAAP EPS $0.72.
Progressive Leasing GMV $547.6M (+1.2% YoY); provision for lease write-offs 7.0% within 6%-8% target.
Board declared $0.12 quarterly dividend payable March 28, 2024 to holders of record March 14, 2024.
Board authorized additional $302M share repurchase, bringing total authorization to $500M through Feb 2027.
Curtis Doman retires as Chief Innovation Officer effective immediately; remains Special Advisor and Board member.

item 2.02 item 5.02 item 8.01 item 9.01

Executive movements

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Role change

Curtis L. Doman

Chief Innovation Officer

PRG · PROG Holdings, Inc.

Effective: 2024-02-21
Filed: February 21, 2024, 6:59 PM ET

On February 21, 2024, the Company announced that Curtis L. Doman, Co-Founder of Progressive Leasing, the Company's Chief Innovation Officer and a member of the Company's Board of Directors, will be retiring from his role as the Company's Chief Innovation Officer, effective immediately.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PROG Holdings, Inc. reported fourth quarter and fiscal year ended December 31, 2023 results: revenue $577.4 million, net income $18.6 million, EPS $0.41.

Period: fourth quarter and fiscal year ended December 31, 2023
Revenue: $577.4 million
Net income: $18.6 million
EPS: $0.41
Result: reported results

Exact text from the filing

Consolidated revenues for the fourth quarter of 2023 were $577.4 million, a decrease of 5.7% from the same period in 2022, driven by a lower gross leased asset balance entering the quarter. Consolidated net earnings for the quarter were $18.6 million, compared with $36.1 million in the prior year period.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Curtis L. Doman retired as Chief Innovation Officer at PROG Holdings, Inc..

Action: retired
Role: Chief Innovation Officer

Exact text from the filing

On February 21, 2024, the Company announced that Curtis L. Doman, Co-Founder of Progressive Leasing, the Company's Chief Innovation Officer and a member of the Company's Board of Directors, will be retiring from his role as the Company's Chief Innovation Officer, effective immediately.

View on SEC.gov

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PROG Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001808834-24-000020

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